Pan African Resources (LON:PAF) Shares Up 9.9% – Still a Buy?

Pan African Resources PLC (LON:PAFGet Free Report)’s share price was up 9.9% during trading on Wednesday . The company traded as high as GBX 160.40 and last traded at GBX 160.20. Approximately 8,635,302 shares changed hands during trading, a decline of 62% from the average daily volume of 23,019,322 shares. The stock had previously closed at GBX 145.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Pan African Resources from GBX 135 to GBX 160 and gave the company a “buy” rating in a research report on Thursday, February 5th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 154 target price on shares of Pan African Resources in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 157.

Get Our Latest Analysis on PAF

Pan African Resources Stock Performance

The company’s fifty day moving average price is GBX 127.72 and its two-hundred day moving average price is GBX 98.70. The company has a debt-to-equity ratio of 35.80, a quick ratio of 0.74 and a current ratio of 0.78. The firm has a market capitalization of £3.25 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89.

About Pan African Resources

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