Pan African Resources (LON:PAF) Reaches New 12-Month High - Should You Buy?

Key Points

• Pan African Resources PLC shares have reached a new 52-week high, trading at GBX 64 ($0.86) during the session, indicating strong market performance and increased investor interest.
• Analysts from Berenberg Bank have raised their price target for the stock from GBX 55 to GBX 71, reflecting a positive outlook and a "buy" rating.
• The company is recognized as a mid-tier gold producer in Africa, with an annual production capacity exceeding 200,000 ounces from long-life mines, highlighting its substantial operational capability.

Pan African Resources PLC (LON:PAF - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 64 ($0.86) and last traded at GBX 62.70 ($0.85), with a volume of 307140 shares changing hands. The stock had previously closed at GBX 63.10 ($0.85).

Analysts Set New Price Targets

Separately, Berenberg Bank lifted their target price on Pan African Resources from GBX 55 to GBX 71 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Two research analysts have 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 53.

Pan African Resources Trading Up 2.3%

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 55.26 and a two-hundred day simple moving average of GBX 47.32. The firm has a market capitalization of £1.28 billion, a P/E ratio of 1,449.54, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89.

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.