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Pin to quick picksCentamin PLC Share News (CEY)

Share Price Information for Centamin PLC (CEY)

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Share Price: 123.50
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UK WINNERS & LOSERS SUMMARY: Centamin Loses 20% On 2021 Guidance

Wed, 21st Oct 2020 10:37

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.

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FTSE 100 - LOSERS

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Fresnillo, down 4.4%. The gold and silver miner lowered its full-year gold guidance "marginally" as working restrictions due to the virus at the Herradura mine in Mexico hurt production. The Mexican company now expects annual gold production in the range of 745,000 to 775,000 ounces. Its previous guidance range was between 785,000 and 815,000 ounces. For the three months to September 30, gold output fell 6.3% quarter-on-quarter to 172,718 ounces from 184,356 due to the lower overall speed of recovery and ore grade at both Herradura and Noche Buena mines. Gold output fell 18% year-on-year from 209,752 ounces in the year ago quarter.

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FTSE 250 - LOSERS

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Centamin, down 20%. The gold miner reaffirmed its 2020 guidance but expects an output fall in 2021. During the third quarter, gold production fell 2% quarter-on-quarter to 128,240 ounces from 130,994 ounces. Gold sold in the quarter dropped 9% to 118,617 ounces from 130,745 ounces. It expects total 2020 output between 445,000 ounces to 455,000 ounces of gold produced but forecasts the 2021 figure to come in between 400,000 ounces to 430,000 ounces.

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OTHER MAIN MARKET AND AIM - WINNERS

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Thor Mining, up 31%. The exploration and development firm said it is "another step closer" to selecting drill targets at Ragged Range gold project, Australia. Thor reported "visible gold" along a 13 kilometre stretch in the project.

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Europa Oil & Gas, up 25%. The UK, Ireland and Morocco-focused oil and gas firm was given a one-year extension to Inezgane exploration permit by Moroccan regulators. The permit, which now runs to November 2022, was granted due to time lost as a result of Covid-19.

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Pipehawk, up 25%. The Hampshire-based provider of technology solutions to highways and rail industries said revenue in the year to June 30 jumped 24% to GBP8.3 million. Pretax profit surged to GBP194,000 from GBP12,000.

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ECO Animal Health Group, up 21%. The pet and livestock pharmaceuticals company said its revenue for the year to March 31 will exceed market expectations if current trends continue. ECO added that during the first half, revenue in China outperformed management expectations helped by the high price for pork.

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OTHER MAIN MARKET AND AIM - LOSERS

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Premier African Minerals, down 16%. The southern Africa-focused miner said it plans to raise GBP1.1 million through the placing of 2.75 billion shares at 0.04 pence each. "Premier intends to use the proceeds of the placing to assist with the funding to identify and secure high value exploration and/or cash generative assets," the company explained.

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D4T4 Solutions, down 13%. The data solutions provider said revenue in the six months ended September 30 fell 42% to GBP5.1 million from GBP8.8 million, though like adjusted profit, it came in in-line with internal expectations. D4T4 noted a "number of significant new contracts expected to close in the half" are still pending and now expected in the second half.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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