Centamin (LON:CEY) Reaches New 1-Year High - Time to Buy?

Shares of Centamin plc (LON:CEY - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as GBX 173.80 ($2.26) and last traded at GBX 171.50 ($2.23), with a volume of 5468875 shares trading hands. The stock had previously closed at GBX 167.92 ($2.18).

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Berenberg Bank restated a "buy" rating and issued a GBX 160 ($2.08) price target on shares of Centamin in a research report on Wednesday, August 21st. Canaccord Genuity Group restated a "buy" rating and issued a GBX 150 ($1.95) target price on shares of Centamin in a research note on Tuesday, September 10th.

Centamin Price Performance

The stock has a market capitalization of £2.01 billion, a price-to-earnings ratio of 3,464.00, 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 company has a 50-day simple moving average of GBX 142.81 and a two-hundred day simple moving average of GBX 130.11.

Centamin Increases Dividend

The company also recently declared a dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, August 29th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a dividend yield of 1.35%. This is a positive change from Centamin's previous dividend of $0.02. Centamin's dividend payout ratio (DPR) is presently 6,000.00%.

Centamin Company Profile

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.