Pan African Resources (LON:PAF) Hits New 1-Year High – Time to Buy?

Pan African Resources PLC (LON:PAF) reached a new 52-week high on Friday . The company traded as high as GBX 39 ($0.49) and last traded at GBX 38.85 ($0.49), with a volume of 1844446 shares trading hands. The stock had previously closed at GBX 36.35 ($0.46).

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 35 ($0.44) price objective on shares of Pan African Resources in a research report on Wednesday, September 11th. Berenberg Bank reiterated a “buy” rating and set a GBX 38 ($0.48) price target on shares of Pan African Resources in a research report on Wednesday, August 14th.

Pan African Resources Trading Up 7.6 %

The company has a debt-to-equity ratio of 36.10, a quick ratio of 0.74 and a current ratio of 0.71. The stock has a market capitalization of £750.82 million, a P/E ratio of 1,211.67, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. The stock has a 50-day moving average price of GBX 34.46 and a two-hundred day moving average price of GBX 29.70.

Pan African Resources Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 28th will be issued a dividend of GBX 0.96 ($0.01) per share. This represents a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 28th. This is a boost from Pan African Resources’s previous dividend of $0.75. Pan African Resources’s payout ratio is 3,333.33%.

Pan African Resources Company Profile

Pan African Resources PLC engages in the mining, extraction, production, and sale of gold in South Africa. The company's flagship projects include the Barberton Mines that consists of three underground mines, including Fairview, Sheba, and Consort located in the Barberton Greenstone Belt; and Elikhulu tailings retreatment plant in Southern Africa.