Pan African Resources (LON:PAF) Sets New 1-Year High – Here’s What Happened

Shares of Pan African Resources PLC (LON:PAF) hit a new 52-week high during trading on Thursday . The company traded as high as GBX 100.40 and last traded at GBX 99.66, with a volume of 2261304 shares traded. The stock had previously closed at GBX 95.60.

Analysts Set New Price Targets

Separately, Berenberg Bank raised their price target on Pan African Resources from GBX 83 to GBX 112 and gave the company a “buy” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 112.

Pan African Resources Stock Performance

The company has a debt-to-equity ratio of 35.80, a current ratio of 0.78 and a quick ratio of 0.74. The company has a market cap of £2.02 billion, a PE ratio of 13.94, a PEG ratio of 8.95 and a beta of 0.89. The stock has a 50 day simple moving average of GBX 85.92 and a two-hundred day simple moving average of GBX 63.85.

Insiders Place Their Bets

In related news, insider Cobus Loots sold 200,000 shares of the 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. 2.15% of the stock is currently owned by corporate insiders.

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.