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22 Apr, 2021 14:47

BofA hikes target on Centamin citing balance sheet 'strength'

centamin sukari miners mining

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'.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.