Pan African Resources (LON:PAF) Hits New 1-Year High - Here's Why

Shares of Pan African Resources PLC (LON:PAF - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 50.90 ($0.69) and last traded at GBX 50.84 ($0.69), with a volume of 1582093 shares trading hands. The stock had previously closed at GBX 49.80 ($0.67).

Analyst Ratings Changes

Separately, Berenberg Bank increased their price objective on shares of Pan African Resources from GBX 55 ($0.74) to GBX 71 ($0.96) and gave the company a "buy" rating in a research report on Wednesday, July 2nd.

Pan African Resources Stock Up 4.3%

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 company has a market capitalization of £1.11 billion, a PE ratio of 24.04, a P/E/G ratio of 8.95 and a beta of 0.89. The company's 50-day moving average is GBX 47.38 and its 200 day moving average is GBX 42.09.

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.