Pan African Resources (LON:PAF) Stock Breaks Above Fifty Day Moving Average – Here’s What Happened

Shares of Pan African Resources PLC (LON:PAF) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of GBX 119.76 and traded as high as GBX 121.50. Pan African Resources shares last traded at GBX 120.20, with a volume of 4,573,905 shares trading hands.

Analyst Upgrades and Downgrades

PAF has been the subject of several research analyst reports. Berenberg Bank restated a “buy” rating and issued a GBX 153 price objective on shares of Pan African Resources in a research note on Friday, September 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 155 target price on shares of Pan African Resources in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 156.

Pan African Resources Price Performance

The firm’s fifty day moving average price is GBX 119 and its 200 day moving average price is GBX 127.70. The firm has a market capitalization of £2.35 billion, a PE ratio of 6.43, a P/E/G ratio of 8.95 and a beta of 0.74. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 5.71.

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. The company is dual primary listed on the main board of the London Stock Exchange and the main board of the JSE in South Africa. Our shares also trade on the OTCQX Best Market in the USA through a Level 1 ADR programme backed by the Bank of New York (ticker PAFRY/PAFRF)