Pan African Resources (OTCMKTS:PAFRF) Stock Price Down 7.4% – Should You Sell?

Pan African Resources PLC (OTCMKTS:PAFRF)’s share price fell 7.4% during trading on Monday. The company traded as low as $1.5750 and last traded at $1.5750. Approximately 250 shares traded hands during trading, a decline of 97% from the average daily volume of 9,677 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on shares of Pan African Resources in a research report on Monday, August 3rd. They set a “hold” rating on the stock. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Pan African Resources Price Performance

The firm has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.65.

Pan African Resources Company Profile

Pan African Resources plc is a mid-tier gold producer focused on developing and operating mines and gold recovery projects in South Africa. The company produces gold from conventional underground mining operations and from the retreatment of historical mine tailings, which contain residual gold-bearing material.

Its principal assets include Barberton Mines in Mpumalanga, comprising the Fairview, Sheba and Consort underground mines, and the Evander operations, which include underground mining and the Elikhulu tailings retreatment plant.