Pan African Resources (LON:PAF) Trading 4.9% Higher – Here’s What Happened

Shares of Pan African Resources PLC (LON:PAF) were up 4.9% during trading on Wednesday . The stock traded as high as GBX 153.80 and last traded at GBX 146.20. Approximately 11,657,466 shares were traded during trading, a decline of 39% from the average daily volume of 19,187,143 shares. The stock had previously closed at GBX 139.40.

Analysts Set New Price Targets

PAF has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on Pan African Resources from GBX 135 to GBX 160 and gave the company a “buy” rating in a report on Thursday, February 5th. Berenberg Bank reduced their target price on Pan African Resources from GBX 190 to GBX 181 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 170.50.

Pan African Resources Price Performance

The stock’s fifty day simple moving average is GBX 148.67 and its two-hundred day simple moving average is GBX 117.73. The company has a debt-to-equity ratio of 20.15, a current ratio of 0.98 and a quick ratio of 0.74. The company has a market capitalization of £3.00 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 8.95 and a beta of 0.66.

About Pan African Resources