Pan African Resources (LON:PAF) Sets New 12-Month High - Here's Why

Pan African Resources PLC (LON:PAF - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 52.30 ($0.70) and last traded at GBX 51.70 ($0.69), with a volume of 7329810 shares changing hands. The stock had previously closed at GBX 50.90 ($0.68).

Analyst Ratings Changes

Separately, Berenberg Bank lifted their target price on shares of Pan African Resources from GBX 55 ($0.74) to GBX 71 ($0.95) and gave the company a "buy" rating in a research note on Wednesday, July 2nd.

Pan African Resources Stock Up 1.1%

The business's 50 day moving average price is GBX 47.65 and its 200-day moving average price is GBX 42.45. 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 company has a market cap of £1.13 billion, a P/E ratio of 24.39, a PEG 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.