Centamin (LON:CEY) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Centamin plc (LON:CEY)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 133.52 ($1.68) and traded as high as GBX 143.10 ($1.80). Centamin shares last traded at GBX 140.70 ($1.77), with a volume of 2,009,236 shares traded.

Analysts Set New Price Targets

CEY has been the topic of several recent analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 160 ($2.02) target price on shares of Centamin in a research report on Wednesday, August 21st. Canaccord Genuity Group restated a “buy” rating and set a GBX 150 ($1.89) price objective on shares of Centamin in a report on Tuesday, September 10th.

Centamin Stock Up 0.8 %

The stock has a market capitalization of £1.63 billion, a PE ratio of 2,814.00, a price-to-earnings-growth ratio of -1.53 and a beta of 0.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.44 and a quick ratio of 2.09. The business’s fifty day moving average price is GBX 153.17 and its two-hundred day moving average price is GBX 133.52.

About Centamin

Centamin plc, together with its subsidiaries, engages in the exploration, mining, and development of gold and precious metals in Egypt, Côte d'Ivoire, Burkina Faso, Jersey, the United Kingdom, and Australia. Its principal asset is the Sukari Gold Mine project, which covers an area of approximately 160 square kilometers located in the Eastern Desert of Egypt.