Pan African Resources (LON:PAF) Sets New 1-Year High - Still a Buy?

Key Points

• Pan African Resources PLC's share price reached a new 52-week high at GBX 63.40 ($0.86) during trading on Wednesday, up from a previous close of GBX 62.30 ($0.84).
• Berenberg Bank raised its target price for the stock from GBX 55 ($0.74) to GBX 71 ($0.96) and assigned a "buy" rating in its latest report.
• The company is an African-focused mid-tier gold producer, with an annual production capacity exceeding 200,000 ounces from its established underground and surface mining operations.

Shares of Pan African Resources PLC (LON:PAF - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 63.40 ($0.86) and last traded at GBX 63.40 ($0.86), with a volume of 390649 shares traded. The stock had previously closed at GBX 62.30 ($0.84).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lifted their target price on shares of Pan African Resources from GBX 55 ($0.75) to GBX 71 ($0.96) and gave the stock a "buy" rating in a research note on Wednesday, July 2nd.

Pan African Resources Stock Up 1.5%

The company has a debt-to-equity ratio of 35.80, a current ratio of 0.78 and a quick ratio of 0.74. The business's 50 day simple moving average is GBX 52.44 and its 200 day simple moving average is GBX 45.63. The company has a market capitalization of £1.36 billion, a PE ratio of 29.37, a P/E/G ratio of 8.95 and a beta of 0.89.

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.