Pan African Resources (LON:PAF) Hits New 52-Week High After Analyst Upgrade

Key Points

• Pan African Resources PLC shares reached a new 52-week high following an analyst upgrade from Berenberg Bank, which raised its price target from GBX 71 to GBX 83.
• The stock was last traded at GBX 79.50 ($1.08), reflecting an increase of 3.2% during mid-day trading.
• With a market capitalization of £1.61 billion and a production capacity of over 200,000 oz/year, Pan African is recognized as a mid-tier gold producer focused on the African market.

Pan African Resources PLC (LON:PAF - ) shares hit a new 52-week high during mid-day trading on Monday after Berenberg Bank raised their price target on the stock from GBX 71 to GBX 83. Berenberg Bank currently has a buy rating on the stock. Pan African Resources traded as high as GBX 79.50 ($1.08) and last traded at GBX 79.50 ($1.08), with a volume of 8380180 shares. The stock had previously closed at GBX 77 ($1.04).

Pan African Resources Trading Up 3.2%

The business has a fifty day moving average price of GBX 60.30 and a two-hundred day moving average price of GBX 49.96. The firm has a market capitalization of £1.61 billion, a PE ratio of 1,823.39, a PEG ratio of 8.95 and a beta of 0.89. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 35.80.

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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