Pan African Resources (LON:PAF) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Pan African Resources PLC (LON:PAF)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 135.85 and traded as low as GBX 93.20. Pan African Resources shares last traded at GBX 100.82, with a volume of 5,253,343 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reduced their target price on Pan African Resources from GBX 165 to GBX 153 and set a “buy” rating on the stock in a research note on Monday, June 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 156.50.

Pan African Resources Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.74 and a debt-to-equity ratio of 19.51. The company has a market capitalization of £2.10 billion, a PE ratio of 8.66, a PEG ratio of 8.95 and a beta of 0.70. The firm’s 50-day simple moving average is GBX 125.03 and its 200-day simple moving average is GBX 135.62.

Insider Activity

In related news, insider Keith Spencer sold 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of GBX 157, for a total value of £1,570,000. Insiders own 2.10% of the company’s stock.

About Pan African Resources