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Centamin – a buy from here? Yes!

By Nigel Somerville | Monday 9 December 2019

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Fully-listed Egyptian gold-miner Centamin (CEY) saw its shares riding high on Tuesday in the wake of news of a potential bid from Canadian peer Endeavour Mining in the form of a proposed all-share deal which valued Centamin at around £1.5 billion. The shares, having been knocking around 110p moved up to 130p at the top – beating the intimated deal price of 126.27p – but have since dropped back and closed last week at 118.55p as the market appeared to lose interest. So is it now a buy?

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