Pan African Resources (LON:PAF) Price Target Raised to GBX 83

Pan African Resources (LON:PAF) had its price objective hoisted by Berenberg Bank from GBX 71 to GBX 83 in a research note published on Friday, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Pan African Resources Trading Up 0.9%

LON PAF opened at GBX 77 on Friday. The stock has a 50-day simple moving average of GBX 60.30 and a 200 day simple moving average of GBX 49.96. The company has a market capitalization of £1.56 billion, a PE ratio of 1,766.06, a P/E/G 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. Pan African Resources has a 12 month low of GBX 30.45 and a 12 month high of GBX 79.

About Pan African Resources

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.