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

Key Points

• Pan African Resources PLC saw a 4% increase in stock price, trading up to GBX 82.70 ($1.13) on high trading volume of nearly 9 million shares.
• Berenberg Bank raised its target price for Pan African Resources from GBX 71 to GBX 83, maintaining a "buy" rating, contributing to a consensus rating of "Buy" for the stock.
• The company, a mid-tier gold producer, boasts an annual production capacity of over 200,000 oz/year from long-life underground mines and environmentally remediating surface operations.

Pan African Resources PLC (LON:PAF - Get Free Report) rose 4% during mid-day trading on Wednesday . The stock traded as high as GBX 83 ($1.12) and last traded at GBX 82.70 ($1.11). Approximately 8,947,369 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 6,444,745 shares. The stock had previously closed at GBX 79.50 ($1.07).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank upped their price objective on shares of Pan African Resources from GBX 71 to GBX 83 and gave the company 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.com, the company currently has a consensus rating of "Buy" and a consensus target price of GBX 83.

Pan African Resources Stock Performance

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 company's fifty day simple moving average is GBX 63.54 and its two-hundred day simple moving average is GBX 51.50. The stock has a market cap of £1.73 billion, a price-to-earnings ratio of 1,951.83, 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.