Pan African Resources (LON:PAF) Hits New 12-Month High – What’s Next?

Pan African Resources PLC (LON:PAF) shares hit a new 52-week high during trading on Monday . The stock traded as high as GBX 92.80 ($1.25) and last traded at GBX 91.08 ($1.22), with a volume of 1208007 shares. The stock had previously closed at GBX 90.69 ($1.22).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lifted their price objective on shares of Pan African Resources from GBX 71 to GBX 83 and gave the company a “buy” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pan African Resources currently has an average rating of “Buy” and a consensus target price of GBX 83.

Pan African Resources Stock Up 0.6%

The stock has a market cap of £1.85 billion, a P/E ratio of 1,273.74, a PEG ratio of 8.95 and a beta of 0.89. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 35.80. The business has a 50-day simple moving average of GBX 70.44 and a 200-day simple moving average of GBX 55.04.

Insider Activity

In related news, insider Cobus Loots sold 200,000 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of GBX 87, for a total transaction of £174,000. Corporate insiders own 2.15% of the company’s stock.

Pan African Resources Company Profile

Pan African is an African-focused mid-tier gold producer, with annual production capacity of over 200,000 oz/year from long-life (+20 years) underground mines in the prolific Witwatersrand Basin and the Barberton Greenstone Belt, as well as from low-cost high-margin environmentally remediating surface remining operations.