Centamin Dividends - CEY

Centamin Dividends - CEY

Best deals to access real time data!
Level 2 Basic
Monthly Subscription
for only
Monthly Subscription
for only
UK/US Silver
Monthly Subscription
for only
VAT not included
Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Centamin CEY London Ordinary Share JE00B5TT1872 ORD NPV (DI)
  Price Change Price Change % Stock Price High Price Low Price Open Price Close Price Last Trade
  2.50 2.16% 118.00 121.80 117.20 117.65 115.50 16:35:13
more quote information »
Industry Sector

Centamin CEY Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

larry laffer: Probably easier to wait for the interims but Because there has been a decent increase in gold price 50% of which flows straight to the bottom line it is safe to assume at least another $4m attributable to FCF. If you wish to be more accurate you would need daily gold sold vs price achieved. I would be happy with an interim divi at the same level as 2018 final divi. Even better would be a bumper gold processed figure for Q2. And an improved share price thrown in.
jfishy55: Thanks Larry, My memory suggested PoG for forecasts was $1250oz & as it has been over $1400 for a while I though $1350 might do...however, given that it does affect the FCF quite significantly I think a better look is in order. I had a look on Kitco which suggests the average PoG in 2019 has been $1315 (I suspect, if I removed July figures that would fall to your 1305). Re-doing my figures for $1250 to $1305 gives about 3.5c I'm hoping for more than 118koz as well - anything over would be a bonus as 118 is at the top of CEYs guidance. I think the catalyst for the share price will be the dividend...I think people are looking for clear signs that the negatives are behind the company & a return to the divs of 2017 & 2018 is on the cards.
astjgroom: That's my concern. I'm supposed to be exposed to gold and CEY is only ticking along a penny or two at a time. Production concerns still weigh heavily IMHO. The days of a strong share price have been damaged by failures in 2018 and future confidence is proving hard won, gold rally or not.
garycook: Investor appetite for gold digger Centamin (LSE: CEY) picked up remarkably in the wake of first-quarter results unpackaged in late April. Its share price rose by rare double-digit percentages on the day, movement which also carried it away from three-year lows. Strangely though, demand for the FTSE 250 stock has petered out since then and so its share price remains at a significant 43% discount to levels seen a year ago. Look, I understand share pickers may remain cautious following production problems at its bellwether Sukari mine over the past year. But I believe there’s plenty of fuel that could see Centamin’s share price blast higher in the months ahead. Production surges in Q1 So those output issues at its mega complex in Egypt may be stemming buyer appetite, but April’s trading update could prove the first step on the road to long-term recovery. In it, Centamin declared production in the three months to March charged past forecasts, the 116,183 ounces of gold pulled from the ground blasting past expectations which ranged between 105,000 and 115,000 ounces. The show-stopping result reflected “ongoing operational improvements delivered in the open pit and underground,” the mining giant said, and included record processing plant throughput of 3.25m tonnes of ore. The African digger also affirmed expectations that production will pick up during the second half of the year, thanks to “increasing quarter on quarter open pit ounce contribution, as the grade profile improves with depth, and further optimisation of our underground operations.” Now Centamin elected to keep its full-year guidance locked at between 490,000 and 520,000 ounces of the yellow metal following that blistering first-quarter performance, and it may be a bit early to break out the bunting just yet and proclaim that it’s plain sailing from here. That said, the size at which output beat expectations provides plenty of reasons to be positive for the coming quarter and beyond. One last cause for celebration in quarter one: unit cash costs of $631 per ounce in quarter one also beat guidance, while all in sustaining costs came in at the lower end of guidance at $898. Another share price catalyst? Production improvements are not the only reason to be positive for the remainder of 2019, though. Because of the range of geopolitical and macroeconomic headaches that continue to swirl, precious metal demand keeps on rising from the investment community. This was laid bare by latest World Gold Council data which showed quarterly inflows into gold-backed exchange traded funds rose 49% in the first quarter to 40.3 tonnes. However, City analysts are forecasting that Centamin’s earnings will topple 7% in 2019. But given the robustness of gold demand and that aforementioned operational improvement at the mining play, I can easily see this prediction being upgraded as the year progresses. And so I’d be tempted to buy in despite the company’s elevated forward P/E ratio of 19 times. What’s more, at current prices, Centamin boasts monster dividend yields of 4% for this year and 5.7% for 2020. I think there’s plenty for share pickers to get their teeth into right now and reckon this FTSE 250 firm could prove to be a great success story for 2019 and probably beyond.
seemore: Simba, What you are missing is sentiment - this is what drives share prices. After multiple let downs in 2018, culminating in the Feb ann re dividend and 2019 guidance, for which the market was not prepared, sentiment drove the share price to silly low levels and valuations expecting even worse news in the Q1 results. Hence forecasts on here of 70p and even 50p. All against a background of bearish sentiment in gold and miners. But Q1 results > guidance + other positives = restored confidence = better sentiment = selling pressure falls = rising price This is the reverse of what happened in Feb when share price spiked on expectations re divi and hopes for 2019 guidance c560k based on a Q4 rate being maintained in every quarter in 2019. All going to be a tough ask. Now, CEY price may rise for a short while as the news and good vibes reaches more investors, but at some point, the rise will at least pause, if not reverse unless there is another boost to sentiment. This could come from further good news / surprises from CEY and / or from an improvement in sentiment in gold and miners.
jfishy55: As I gear up towards buying CEY, here's some conservative (used lower guidance figures) numbers I've put together from the FY accounts. I'd be interested if anyone disagrees with the numbers or if I've missed anything / got anything wrong: Q1: 105,000oz, $950oz AISC, $1280oz avg gold price realised = $33.6m profit FY: 490,000oz, $950 AISC, $1280oz avg gold price realised = $161.7m profit Cash at start of year $322.3m (adjusted for 2018 final dividend of $34.6m = $287.7) Interim 2018 dividend cost $28.9m Final 2018 dividend cost $34.6m Total 2018 dividends cost $63.5m So it looks like Q1 alone will cover the H1 dividend & see an increase. With H2 production scheduled to be much higher than H1 CEY should pay a significantly higher final dividend. This implies a significant rise in the share price and also the yield. This is dependent on: 1) gold price 2) production being met I do have these concerns as well: 1) Thursday is ex-div day (if you hold at close on Thursday you are entitled to div) AND the last day of trading before Q1 results...and the price has been pretty soft leading up to it.. 2) Don't profit warnings come in 3s?! I think there have only been two? So I'm waiting until the Q1 results to confirm things are on track. If they are I'll be buying, if not, I won't :-) Unless anyone wants to convince me otherwise?
jfishy55: Plat, I see your made up nonsense and raise you company guidance, RNS figures & accounts! "Half the cash in the pot than this time last year" CEYs stated intention is to keep circa $300m in the pot - it has maintained this for a few years now. Sure, timing of payments from one day to the next could make a difference, however, there is always $300m in the pot (we can see this from the dividend being paid out of free cash-flow, not cash-flow). "Improvements in basket price have been non existence" Basket price? Non existence? Not sure what you mean...however, CEY is currently basing its guidance on $1250 oz gold and gold has been above that all year. "No debt YET but everyone knows cash flow no longer cover pipeline capex lower production" Nonsense! Revenue for 2018 was $603.2m, revenue is expected to increase this year. Capex was $96.8m - significantly less! Guidance is for lower capex this year, however, there may be capital projects such as solar farm to pay for. How about the dividend? It was 100% of *FREE* cash-flow. I have no idea where the share price will go short term but the fundamentals show that CEY is well positioned to weather a storm (and did indeed do this several times in 2018) whilst still turning a profit, paying dividend, not taking on debt & not issuing paper. If you can give some objective reasons as why this would not be the case then I would be most grateful as I would then want to sell but in the meantime I think I'll hold and top-up on the 6th :-)
jfishy55: "How is that increased resource being paid for?" That's what the $300m cash pile is for, by maintaining it CEY can ensure it doesn't need to take on debt or issue paper to take other projects into production. As for EPS etc, as someone else pointed out, the dividend depends entirely on how much gold was dug out of the ground & sold. If there is a good run as in 2016 the figures will look great...if 2019 is the same as 2018 then the figures are not great. We already know that Q1 output will not be a quarter of 2019 annual guidance but do expect higher figures in H2. So I think the share price will rise gently through the year...however, I didn't think it would drop from 180p so who knows! Political risk is the only real issue I see - will CEY finally see a resolution of the court case / Law 32 etc? However, POG may have an influence if it moves solidly in any direction. Personally I'm bullish and am thinking about buying a few more for my ISA on the 6th.
creditcrunchies: throw what you like Kenny if it makes you happy but this is the golden rule when going for divi stocks they need cover comfortably over 1 that is a fact. Anything less than that you are likely to see a dividend cut. This is not a dividend stock it's a gold play that pays out a variable dividend. You guys need to focus on both ends of scales here it's like if you have a view that is different to blatent ramping you are a deramper. Which is nonsense because nobody takes any notice of BBs to move a share price they look at expectations and estimates, which is all I am stating
bocase: Ken: I think the market makers may mark the share price up a couple of pence in response to the 'Questor" tip. The Telegraph is usually quite influential. Likewise I might top up a bit. I currently have 46K so quite over weight but CEY's prospects look very good with the recent upgrade following the drill results, the better grade ore now being processed and the high dividend yield. I am anticipating a US led equity sell off at some stage this year and gold and of course miners will be the beneficiaries.
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190719 21:29:02