Insider Selling: Pan African Resources (LON:PAF) Insider Sells 200,000 Shares of Stock

Key Points

• Insider Cobus Loots sold 200,000 shares of Pan African Resources for a total of £174,000, with shares trading at an average price of GBX 87.
• Following the transaction, Pan African Resources stock experienced a 2.4% decline, closing at GBX 86, with a trading volume exceeding average levels.
• Berenberg Bank raised its target price for the stock from GBX 71 to GBX 83 and maintains a "buy" rating, indicating positive analyst sentiment.

Pan African Resources PLC (LON:PAF - Get Free Report) insider Cobus Loots sold 200,000 shares of Pan African Resources 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.

Pan African Resources Stock Down 2.4%

Shares of LON PAF traded down GBX 2.10 during mid-day trading on Thursday, reaching GBX 86. 8,293,758 shares of the company's stock traded hands, compared to its average volume of 6,556,448. Pan African Resources PLC has a 1-year low of GBX 30.90 and a 1-year high of GBX 91.30. The stock has a market cap of £1.74 billion, a P/E ratio of 1,972.48, a PEG ratio of 8.95 and a beta of 0.89. 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 business has a 50-day simple moving average of GBX 65.74 and a 200 day simple moving average of GBX 52.44.

Analyst Ratings Changes

Separately, Berenberg Bank increased their target price on shares of Pan African Resources from GBX 71 to GBX 83 and gave the company a "buy" rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of GBX 83.

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.

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