Centamin plc (OTCMKTS:CELTF) Sees Significant Growth in Short Interest

Centamin plc (OTCMKTS:CELTFGet Rating) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 448,900 shares, an increase of 282.4% from the April 30th total of 117,400 shares. Based on an average trading volume of 23,100 shares, the days-to-cover ratio is currently 19.4 days.

A number of research analysts recently issued reports on the company. Berenberg Bank cut their price objective on Centamin from GBX 112 ($1.41) to GBX 108 ($1.36) in a research note on Friday, March 18th. Royal Bank of Canada restated a “buy” rating and issued a $140.00 price target on shares of Centamin in a research note on Wednesday, April 20th. Finally, Zacks Investment Research cut shares of Centamin from a “buy” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $83.08.

Shares of OTCMKTS CELTF opened at $1.09 on Thursday. The firm’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.22. Centamin has a 52-week low of $1.00 and a 52-week high of $1.76.

About Centamin (Get Rating)

Centamin plc engages in the exploration, mining, and development of precious metals in Egypt, Burkina Faso, Côte d'Ivoire, Jersey, the United Kingdom, and Australia. The company explores for gold deposits. 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.

See Also

Receive News & Ratings for Centamin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centamin and related companies with MarketBeat.com's FREE daily email newsletter.