Wow I can’t believe no one has ...3 Feb 2019 18:36
commented on this..
This Sunday Times share tip will put ten pence on the price of Centamin right at 8am tomorrow!
Seriously this is as good as gold! (Pun intended)
Centamin, the Egyptian gold miners, was tipped in the Sunday Times' Inside the City column. The FTSE 250-listed company has had a mixed run, last year halving in value from above 160p in May before cutting its production guidance due to persistent low grades at its Sukari mine, hitting a low below 85p in September. Last month the company confirmed gold production in 2018 had fallen 13%, despite a 17% increase in the final quarter.
For full year results, which are due later this month, Centamin is expected to pay a dividend of 4.1 cents a share, putting its shares on a yield of 2.7% compared to peers around 4% and 5%. However, the stock is changing hands for just under 11 times earnings, compared to the likes of Fresnillo on a p/e ratio of 17.9. Broker Panmure Gordon have set a target for the shares, which finished last week at 118.35p, at 140p target, seeing many of its problems have been addressed. What's more, the gold price has risen steadily since November, closing last week at $1,317 an ounce.