Pantheon Resources (LON:PANR) Stock Price Up 9.2% - Should You Buy?

Pantheon Resources Plc (LON:PANR - Get Free Report) shares rose 9.2% during mid-day trading on Wednesday . The stock traded as high as GBX 23.96 ($0.32) and last traded at GBX 23.75 ($0.32). Approximately 14,871,592 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 8,073,307 shares. The stock had previously closed at GBX 21.75 ($0.29).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and set a GBX 74 ($0.99) target price on shares of Pantheon Resources in a research note on Monday, May 19th.

Pantheon Resources Stock Up 9.2%

The company has a market cap of £339.22 million, a price-to-earnings ratio of -22.16 and a beta of -0.36. The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The firm's 50 day simple moving average is GBX 27.10 and its 200-day simple moving average is GBX 42.44.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope ("ANS"), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska's Trans Alaska Pipeline System ("TAPS"). Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.