Pan African Resources (LON:PAF) Hits New 1-Year High – Still a Buy?

Pan African Resources PLC (LON:PAF) shares hit a new 52-week high during trading on Monday . The stock traded as high as GBX 72.90 ($0.99) and last traded at GBX 72.90 ($0.99), with a volume of 625475 shares. The stock had previously closed at GBX 70.10 ($0.95).

Wall Street Analyst Weigh In

Separately, Berenberg Bank boosted their price target on Pan African Resources from GBX 55 to GBX 71 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 53.

Pan African Resources Price Performance

The firm has a market capitalization of £1.56 billion, a price-to-earnings ratio of 1,763.76, a PEG ratio of 8.95 and a beta of 0.89. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 35.80. The business has a 50-day moving average price of GBX 58.56 and a two-hundred day moving average price of GBX 48.98.

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.