Pan African Resources (LON:PAF) Trading 4.9% Higher – Here’s What Happened

Shares of Pan African Resources PLC (LON:PAF) shot up 4.9% on Wednesday . The company traded as high as GBX 153.80 and last traded at GBX 146.20. 11,657,466 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 19,187,143 shares. The stock had previously closed at GBX 139.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAF. Canaccord Genuity Group upped their price objective on Pan African Resources from GBX 135 to GBX 160 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Berenberg Bank lowered their target price on shares of Pan African Resources from GBX 190 to GBX 181 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Pan African Resources has a consensus rating of “Buy” and an average price target of GBX 170.50.

Pan African Resources Stock Up 4.9%

The company has a quick ratio of 0.74, a current ratio of 0.98 and a debt-to-equity ratio of 20.15. The firm has a 50 day simple moving average of GBX 148.39 and a 200-day simple moving average of GBX 117.52. The stock has a market cap of £2.96 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 8.95 and a beta of 0.66.

Pan African Resources Company Profile