Pan African Resources (LON:PAF) Reaches New 12-Month High – What’s Next?

Pan African Resources PLC (LON:PAF)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 115.60 and last traded at GBX 112.80, with a volume of 5563229 shares trading hands. The stock had previously closed at GBX 112.88.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 112 target price on shares of Pan African Resources in a research note on Thursday, November 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 112.

Pan African Resources Stock Performance

The company’s fifty day simple moving average is GBX 94.24 and its two-hundred day simple moving average is GBX 72.56. The company has a debt-to-equity ratio of 35.80, a quick ratio of 0.74 and a current ratio of 0.78. The stock has a market capitalization of £2.29 billion, a P/E ratio of 15.75, a PEG ratio of 8.95 and a beta of 0.89.

Insiders Place Their Bets

In related news, insider Cobus Loots sold 200,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of GBX 87, for a total value of £174,000. Insiders own 2.15% of the company’s stock.

About Pan African Resources

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.