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

Key Points

• Shares of Pan African Resources PLC reached a new 52-week high trading at GBX 91.10 ($1.23), showcasing significant trading activity with over 55 million shares changing hands.
• Berenberg Bank has raised its target price for the stock from GBX 71 to GBX 83, maintaining a "buy" rating for the company, which currently holds an average price target of GBX 83 from analysts.
• Pan African Resources is a mid-tier gold producer in Africa with an annual production capacity exceeding 200,000 oz/year from its long-life underground mines and environmentally-friendly surface remining operations.

Pan African Resources PLC (LON:PAF - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as GBX 91.10 ($1.23) and last traded at GBX 89.33 ($1.21), with a volume of 55408559 shares changing hands. The stock had previously closed at GBX 85.11 ($1.15).

Analyst Ratings Changes

Separately, Berenberg Bank increased their target price on Pan African Resources from GBX 71 to GBX 83 and gave the company a "buy" rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Pan African Resources currently has an average rating of "Buy" and a consensus price target of GBX 83.

Pan African Resources Trading Up 1.9%

The company has a debt-to-equity ratio of 35.80, a quick ratio of 0.74 and a current ratio of 0.78. The stock has a market cap of £1.76 billion, a price-to-earnings ratio of 1,988.53, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. The company has a 50 day moving average of GBX 64.25 and a 200-day moving average of GBX 51.94.

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.