Last checked at (Sharecast News) - Analysts at Bank of America raised their target price for shares of Centamin, highlighting to clients the group's multiple strengths.
Among those were its balance sheet "strength", zero debt and rising net cash position.
Earlier, the company posted first quarter production and sales numbers that came in 12% and 20% ahead of the analyst consensus, respectively.
Liquid assets at period end meanwhile stood at $331m.
BoA also highlighted management's focus on stabilising the miner's production profile and generating cash flow.
On the back of all of the above, BoA raised its target price on the shares from 130.0p to 140.0p while reiterating its recommendation to 'buy'.
23 Oct 2021 20:07
Citi sticks with 'short gold' as appropriate pain trade over medium-term
(Sharecast News) - Analysts at Citi still think short gold is the appropriate 'pain trade' over the medium-term, despite "tangible" upside risks to their fourth quarter 2021 average spot price forecast of $1,700/oz..
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