Pan African Resources (LON:PAF) Sets New 12-Month High – Still a Buy?

Pan African Resources PLC (LON:PAF)’s share price hit a new 52-week high on Tuesday . The stock traded as high as GBX 109 and last traded at GBX 108.80, with a volume of 3026698 shares trading hands. The stock had previously closed at GBX 105.20.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 112 target price on shares of Pan African Resources in a research note on Thursday, November 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 112.

Pan African Resources Price Performance

The stock has a 50-day moving average of GBX 92.47 and a two-hundred day moving average of GBX 70.74. The firm has a market cap of £2.21 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 35.80.

Insider Activity at Pan African Resources

In other news, insider Cobus Loots sold 200,000 shares of Pan African Resources stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of GBX 87, for a total value of £174,000. 2.15% of the stock is currently owned by insiders.

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.