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Prices & Quotes - UK Markets - Centamin (DI) (CEY)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 133.75p
Change Today:
0.25p
Market Cap:
1,546.09m
Sector:
Mining

BofA sees gold hitting $3,000/oz., silver at $50/oz.

By Alexander Bueso

Date: Wednesday 05 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Strategists at Bank of America hiked their 18-month target for gold futures from $2,000/oz. to $3,000/oz. as governments continue to act to mend the damage from Covid-19, backstopped by central banks.
So even after the recent drop in so-called 'real' or inflation-adjusted interest rates, continued fiscal spending and central bank actions meant that interest rates would remain low, reinforcing the yellow metal's allure.

The broker was even more upbeat on the prospects for silver, because it too would benefit from the same backdrop as gold, as well as stronger demand on the back of 'green spending'.

Silver at $35/oz. was feasible in 2021 and over the medium-term it could roughly double to $50/oz., they said.

In the case of palladium, BofA expected a market deficit to persist in both 2020 and 2021 and hence saw scope for further price gains.

BofA also highlighted how increased green spending would power prices for 'metals important for future technologies' "as a reduction in the usage of fossil fuels means the world needs to be powered by alternative solutions, almost all of which require mined commodities."

Platinum for one "should benefit from the hydrogenisation of the economy in the coming years," the broker said.

It also raised its short-term price deck for iron ore, forecasting prices of $95/$85/$75 per tonne over 2020-22, citing a combination of downside risks for Brazilian supplies and higher demand and production for steel in the People's Republic of China.



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Centamin (DI) Market Data

Currency UK Pounds
Price 133.75p
Change Today 0.25p
52 Week High 232.10p
52 Week Low 94.44p
Volume 9,601,862
Shares Issued 1,155.96m
Market Cap 1,546.09m

Performance Indicators

Compare performance with the sector and the market.

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Operating Margin
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What The Brokers Say

Strong Buy 2
Buy 1
Neutral 7
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Centamin (DI) Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 13-Aug-20 30-Apr-20
Paid 11-Sep-20 15-May-20
Amount 6.00¢ 6.00¢

Trades for 23-Oct-2020

Time Volume / Share Price
16:29 21 @ 133.70p
16:29 186 @ 133.55p
16:29 72 @ 133.60p
16:29 1,500 @ 133.65p
16:29 115 @ 133.70p

Centamin (DI) Key Personnel

CFO Ross Jerrard
CEO Martin Horgan