Director dealings: Centamin chairman takes more profits

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.

Top Director Buys

Bae Systems (BA.)
Director name: Woodburn,Charles
Amount purchased: 46,569 @ 610.00p
Value: £284,070.90

Debenhams (DEB)
Director name: Bucher,Sergio
Amount purchased: 187,617 @ 53.30p
Value: £99,999.86

International Consolidated Airlines Group Sa (cdi) (IAG)
Director name: Terol Esteban,Alberto
Amount purchased: 9,637 @ € 6.17
Value: € 51,915.31

Capital Gearing Trust (CGT)
Director name: Archibald ,Robin
Amount purchased: 920 @ 3,848.01p
Value: £35,401.69

Redefine International (RDI)
Director name: Oakenful,Stephen
Amount purchased: 50,000 @ 36.57p
Value: £18,284.00

Redefine International (RDI)
Director name: Horsburgh,Adrian
Amount purchased: 50,000 @ 36.47p
Value: £18,234.00

Redefine International (RDI)
Director name: Grant ,Donald
Amount purchased: 50,000 @ 36.15p
Value: £18,075.00

Ortac Resources Ltd. (di) (OTC)
Director name: Balme,Anthony
Amount purchased: 48,189,572 @ 0.02p
Value: £11,131.79

Indivior (INDV)
Director name: Tassé,Daniel
Amount purchased: 2,884 @ 341.60p
Value: £9,851.74

Indivior (INDV)
Director name: Phelan,Daniel J.
Amount purchased: 2,069 @ 341.60p
Value: £7,067.70

Indivior (INDV)
Director name: McLellan,A. Thomas
Amount purchased: 1,452 @ 341.60p
Value: £4,960.03

Indivior (INDV)
Director name: Greenstreet,Yvonne
Amount purchased: 1,419 @ 341.60p
Value: £4,847.30

Indivior (INDV)
Director name: Schade,Christian S.
Amount purchased: 1,231 @ 341.60p
Value: £4,205.10

Indivior (INDV)
Director name: Parker,Lorna
Amount purchased: 1,231 @ 341.60p
Value: £4,205.10

Indivior (INDV)
Director name: Zlatkus,Lizabeth
Amount purchased: 696 @ 341.60p
Value: £2,377.54

Indivior (INDV)
Director name: Zlatkus,Lizabeth
Amount purchased: 696 @ 341.60p
Value: £2,377.54

Centrica (CNA)
Director name: Pusey,Stephen
Amount purchased: 1,027 @ 227.40p
Value: £2,335.40

Centrica (CNA)
Director name: Valle,Margherita D.
Amount purchased: 874 @ 227.40p
Value: £1,987.48

Sky (SKY)
Director name: Gilbert,Martin J
Amount purchased: 101 @ 997.50p
Value: £1,007.48

Sky (SKY)
Director name: Pigasse,Matthieu
Amount purchased: 99 @ 997.50p
Value: £987.53

Sky (SKY)
Director name: Sukawaty,Andrew (Andy)
Amount purchased: 96 @ 997.50p
Value: £957.60

Sky (SKY)
Director name: Clarke,Tracy Jayne
Amount purchased: 63 @ 997.50p
Value: £628.43

Tesco (TSCO)
Director name: Stewart,Alan
Amount purchased: 72 @ 191.26p
Value: £137.71

Tesco (TSCO)
Director name: Lewis,Dave
Amount purchased: 72 @ 191.26p
Value: £137.71

Top Director Sells

Centamin (di) (CEY)
Director name: El-Raghy,Josef
Amount sold: 4,040,000 @ 179.00p
Value: £7,231,599.85

Metro Bank (MTRO)
Director name: Donaldson,Craig
Amount sold: 35,000 @ 3,602.00p
Value: £1,260,700.02

Metro Bank (MTRO)
Director name: Brierley,Michael
Amount sold: 14,000 @ 3,582.00p
Value: £501,480.00

Rightmove (RMV)
Director name: Perriss,Robyn
Amount sold: 11,375 @ 4,062.22p
Value: £462,077.35

Sthree (STHR)
Director name: Hughes,Justin
Amount sold: 89,688 @ 318.58p
Value: £285,728.04

Rightmove (RMV)
Director name: Perriss,Robyn
Amount sold: 3,199 @ 4,061.46p
Value: £129,926.11

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