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

Shares of Centamin plc (LON:CEY) 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 trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on CEY. Berenberg Bank reiterated a “buy” rating and issued a GBX 160 ($2.02) price objective on shares of Centamin in a research note on Wednesday, August 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 150 ($1.89) price target on shares of Centamin in a research report on Tuesday, September 10th.

Centamin Price Performance

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 stock has a fifty day simple moving average of GBX 153.17 and a 200-day simple moving average of GBX 133.52. The company has a market capitalization of £1.63 billion, a price-to-earnings ratio of 2,814.00, a P/E/G ratio of -1.53 and a beta of 0.56.

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.