Berenberg Bank Issues Positive Forecast for Pan African Resources (LON:PAF) Stock Price

Key Points

• Pan African Resources' price target has been raised from GBX 71 to GBX 83 by Berenberg Bank, which maintains a "buy" rating on the stock.
• The stock is currently priced at GBX 78.20, indicating a potential upside of approximately 6.14% from the new target price.
• Pan African Resources is a mid-tier gold producer focused on environmentally sustainable mining, with an annual production capacity of over 200,000 ounces from its underground and surface operations.

Pan African Resources (LON:PAF - Get Free Report) had its price objective raised by equities research analysts at Berenberg Bank from GBX 71 to GBX 83 in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price target suggests a potential upside of 1.57% from the stock's previous close.

Pan African Resources Stock Down 1.2%

LON:PAF traded down GBX 0.98 during trading hours on Friday, reaching GBX 81.72. The company's stock had a trading volume of 7,327,320 shares, compared to its average volume of 6,448,816. The company has a market cap of £1.66 billion, a price-to-earnings ratio of 1,874.22, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. Pan African Resources has a one year low of GBX 30.90 and a one year high of GBX 84.50. The business's 50-day moving average is GBX 61.55 and its 200-day moving average is GBX 50.50. The company has a debt-to-equity ratio of 35.80, a current ratio of 0.78 and a quick ratio of 0.74.

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.