Pan African Resources (LON:PAF) Shares Up 4% - What's Next?

Key Points

• Pan African Resources shares surged 4% during mid-day trading, reaching a high of GBX 83 ($1.13), with a total trading volume of 8,947,369 shares, a 39% increase from the average session volume.
• Berenberg Bank raised its price target for Pan African Resources from GBX 71 to GBX 83, maintaining a "buy" rating on the stock.
• The company has a market capitalization of £1.64 billion and an impressive annual production capacity of over 200,000 oz/year from its underground mines in South Africa.

Pan African Resources PLC (LON:PAF - Get Free Report)'s share price shot up 4% during mid-day trading on Wednesday . The stock traded as high as GBX 83 ($1.13) and last traded at GBX 82.70 ($1.13). 8,947,369 shares were traded during trading, an increase of 39% from the average session volume of 6,444,745 shares. The stock had previously closed at GBX 79.50 ($1.09).

Analyst Ratings Changes

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

Pan African Resources Price Performance

The company has a market capitalization of £1.64 billion, a price-to-earnings ratio of 1,850.92, a PEG ratio of 8.95 and a beta of 0.89. The company's 50 day simple moving average is GBX 61.55 and its 200-day simple moving average is GBX 50.50. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 35.80.

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.

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