Closely-watched gold miner Centamin (LSE:CEY) is struggling to build the momentum it needs to hit the highs its share price achieved in 2021. Full year results out from the miner yesterday saw earnings down 16% on consensus estimates, mainly because of an impairment resulting from an exploration project in Burkina Faso.
There are a number of headwinds Centamin is struggling with at the moment - negative free cash flow is another factor. But the company is upbeat on the prospects for this year, with guidance issued of between 430,000 and 460,000 ounces of gold to be produced. Management told the market they had a clear road map which will take Centamin back to 500,000 ounces of gold production.
This is a critical time for Centamin, with a buoyant gold price and investors casting around for reliable gold producers which can also pay a dividend. What do the numbers say about Centamin right now? We took a look.
Want the full story? Start a free trial of The Armchair Trader Plus+ today.
Get weekly investment ideas and tips that will take your investing to the next level. Sign up here.
Free 28 day trial. Cancel anytime.
Log In or Sign Up to Armchair Trader+Already a member? Log in here:
Not a member? Sign up now or see the membership benefits
Further content of this article is not available as it is for members only. Please visit the registration page for Armchair Trader Plus+ for further details on the benefits of becoming a member.
