Pan African Resources (LON:PAF) Trading 9.9% Higher – Here’s What Happened

Pan African Resources PLC (LON:PAF)’s stock price was up 9.9% on Thursday . The company traded as high as GBX 160.40 and last traded at GBX 160.20. Approximately 8,635,302 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 23,019,322 shares. The stock had previously closed at GBX 145.80.

Analyst Ratings Changes

A number of analysts have commented on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 154 price objective on shares of Pan African Resources in a research note on Monday, February 9th. Canaccord Genuity Group boosted their price target on shares of Pan African Resources from GBX 135 to GBX 160 and gave the company a “buy” rating in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Pan African Resources has a consensus rating of “Buy” and an average price target of GBX 157.

Pan African Resources Price Performance

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 stock has a 50-day simple moving average of GBX 130.67 and a 200 day simple moving average of GBX 100.26. The stock has a market capitalization of £3.38 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89.

About Pan African Resources