Pan African Resources (LON:PAF) Hits New 52-Week High – Here’s Why

Pan African Resources PLC (LON:PAFGet Free Report)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 115.60 and last traded at GBX 112.80, with a volume of 5563229 shares changing hands. The stock had previously closed at GBX 112.88.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 112 target price on shares of Pan African Resources in a research report on Thursday, November 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 112.

Read Our Latest Analysis on PAF

Pan African Resources Stock Up 1.3%

The firm has a market cap of £2.27 billion, a PE ratio of 15.61, a price-to-earnings-growth 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 moving average price of GBX 95.03 and a two-hundred day moving average price of GBX 73.47.

Insiders Place Their Bets

In other Pan African Resources news, insider Cobus Loots sold 200,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of GBX 87, for a total transaction of £174,000. 2.15% of the stock is currently owned by company insiders.

Pan African Resources Company Profile

(Get Free Report)

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.

Further Reading

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