Pan African Resources (LON:PAF) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Pan African Resources PLC (LON:PAF) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 135.12 and traded as low as GBX 91.69. Pan African Resources shares last traded at GBX 94.35, with a volume of 2,859,062 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank cut their price objective on Pan African Resources from GBX 165 to GBX 153 and set a “buy” rating for the company in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 156.50.

Pan African Resources Price Performance

The firm has a market cap of £1.91 billion, a P/E ratio of 7.89, a P/E/G ratio of 8.95 and a beta of 0.70. The firm’s fifty day simple moving average is GBX 120.51 and its 200 day simple moving average is GBX 135.12. The company has a debt-to-equity ratio of 19.51, a quick ratio of 0.74 and a current ratio of 0.98.

Insider Transactions at Pan African Resources

In related news, insider Keith Spencer sold 1,000,000 shares of Pan African Resources stock in a transaction dated Friday, April 17th. The shares were sold at an average price of GBX 157, for a total transaction of £1,570,000. 2.07% of the stock is currently owned by corporate insiders.

About Pan African Resources