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Director dealings: Centamin chairman takes more profits

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Director dealings: Centamin chairman takes more profits

Mon, 27 February 2017
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Director dealings: Centamin chairman takes more profits
Centamin (DI) Quote more

Price: 176.90

Chg: 0.50

Chg %: 0.28%

Date: 17:04

FTSE 250 Quote

Price: 18,832.94 Chg: -155.08 Chg %: -0.82% Date: 16:59

(ShareCast News) - Centamin chairman Josef El-Raghy has sold another £13.4m worth of shares in the Egyptain gold miner, topping off a month where he has sold a week around £49m worth of stock as the gold price remains elevated.
El-Raghy, who transformed the company from an AIM tiddler to FTSE 250 star, offloaded 4m shares at a price of 179p and 3.5m at 176.4p.

Last Monday and Tuesday he jettisoned £17.7m-worth of shares at an average price of 176.9p. The previous fortnight he sold £17.9m at 173p.

With gold prices sky-high, and coming close to pushing through their 200-day moving average for the first time since November last year, the combination with recent strong results helped Centamin's shares this month topp 180p for the first time since 2010, the year when the company reached its all-time high of 190p.

Earlier this month, Centamin declared a bumper dividend as it posted full-year 2016 results that saw EBITDA up 145% to $373m, thanks to higher gold prices, increased production and lower costs.

Broker Numis said the EPS was slightly below its estimate of 20 cents per share but the full year dividend surged ahead of its forecast of 7 cents per share.

The dividend represented a payout ratio of 70% of 2016 free cash flow (FCF), well above the newly stated 15-30% of FCF policy, Numis said, but downgraded the shares to 'hold' on valuation grounds.

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Debenhams (DEB)
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International Consolidated Airlines Group Sa (cdi) (IAG)
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Redefine International (RDI)
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Redefine International (RDI)
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Indivior (INDV)
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Indivior (INDV)
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Indivior (INDV)
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Indivior (INDV)
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Centrica (CNA)
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Centrica (CNA)
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Sky (SKY)
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Sky (SKY)
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Director name: El-Raghy,Josef
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Metro Bank (MTRO)
Director name: Brierley,Michael
Amount sold: 3,333 @ 3,587.00p
Value: £119,554.71

Metro Bank (MTRO)
Director name: Donaldson,Craig
Amount sold: 3,333 @ 3,587.00p
Value: £119,554.71

Ortac Resources Ltd. (di) (OTC)
Director name: Balme,Anthony
Amount sold: 48,189,572 @ 0.02p
Value: £11,083.60

Pressure Technologies (PRES)
Director name: Cammerman,Philip Simon
Amount sold: 5,000 @ 190.00p
Value: £9,500.00