Centamin (LSE: CEY, TSX: CEE) is a gold mining company focusing on exploiting the Arabian-Nubian shield. The company is well-established and has been mining gold since the 1970s.
They operate the Sukari /Alsukari mine alongside the Egyptian Ministry of Mineral Resources. It combines open pit mining and underground mining. The mine is estimated to have reserves of 15.4 million ounces of gold.
Scroll down to find out more about buying shares in Centamin.
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Step 1: Get a share dealing account
Centamin is listed on the London Stock Exchange, which your broker needs access to for investments in their shares.
Things to take into consideration before settling on a broker include their brokerage fee, their foreign exchange fee when buying shares on international markets, what tradeable assets are available, if they support fractional share investment, and the minimum deposit required to open an account. Some brokers offer demo accounts so you can check out their platform before taking a position.
Step 2: Deposit funds into your trading account
To purchase shares in Centamin, you'll require cleared funds in your account.
You can make a deposit using a debit or bank transfer. Due to the risk of fraud, many brokers don’t accept credit cards.
Step 3: Decide how much to invest in Centamin
Things can go wrong in the stock market, which is why you shouldn't invest more money than you can afford to lose without getting into financial difficulty.
If you regularly invest in shares over time, you can reduce your exposure to swings in the share price.
Step 4: Choose whether to invest in shares or an ETF
ETFs (Exchange Traded Funds) are a kind of diversified investment, managed by professional investors. They are a basket of shares of various companies. Some ETFs are themed such that they contain only shares of companies in a particular sector, for example, mining and natural resources. You can check what the fund has invested in online before taking a position.
ETFs that hold shares of Centamin include VanEck Vectors Gold Miners ETF (GDX), iShares Core MSCI EAFE ETF (IEFA), iShares MSCI Global Gold Miners ETF (RING), and Global X Gold Explorers ETF (GOEX).
Step 5: Set up your order
Market orders are a type of order that will buy shares at the next available price once executed. They are very easy to configure.
With most brokers, it’s possible to configure an order that is triggered automatically when the share hits a target price. Since you can set up a trigger to buy or sell, these orders are used in a number of ways. For example, an order could be configured to sell out of your position when the price has gone up to a certain level, letting you take profit. Conversely, they can be used to sell when it’s retracing to a lower price.
Step 6: Place your order
Once you have configured your order, submit it to buy your shares.
Monitoring the price of your Centamin shares is wise. Doing so will enable you to determine when or if you should sell them.
Follow news stories that mention Centamin, the precious metals industry, or their competitors. It is also good to read their company results and any official announcements.
You also need to keep track of what is happening with the gold price. Being seen as a safe resort and hedge against inflation, the gold market is the subject of much interest and discussion.
Centamin’s main competitors are Rio Tinto (LON: RIO), Anglo American (LON: AAL), Newmont (NYSE: NEM), and Barrick Gold (NYSE: GOLD).
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