Pan African Resources (LON:PAF) Price Target Raised to GBX 112

Key Points

• Investment analysts at Berenberg Bank raised the price target for Pan African Resources from GBX 83 to GBX 112, indicating a potential upside of 21.23% from the stock's previous close.
• On Tuesday, Pan African Resources' stock increased by 1.5%, trading at GBX 92.39, with a significantly higher trading volume of over 16 million shares.
• Company insider Cobus Loots sold 200,000 shares at an average price of GBX 87, totaling £174,000, with insiders owning 2.15% of the stock.

Pan African Resources (LON:PAF - Get Free Report) had its price target raised by investment analysts at Berenberg Bank from GBX 83 to GBX 112 in a note issued to investors on Tuesday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's target price would indicate a potential upside of 21.23% from the stock's previous close.

Pan African Resources Stock Up 1.5%

LON PAF traded up GBX 1.39 during trading on Tuesday, reaching GBX 92.39. The company's stock had a trading volume of 16,513,752 shares, compared to its average volume of 6,527,326. 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 market capitalization of £1.87 billion, a PE ratio of 1,290.31, a PEG ratio of 8.95 and a beta of 0.89. The business has a 50-day moving average price of GBX 71.91 and a 200-day moving average price of GBX 55.64. Pan African Resources has a 1-year low of GBX 30.90 and a 1-year high of GBX 94.04.

Insider Transactions at Pan African Resources

In other Pan African Resources news, insider Cobus Loots sold 200,000 shares of Pan African Resources stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of GBX 87, for a total value of £174,000. 2.15% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.