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

Pan African Resources PLC (LON:PAF) shares shot up 9.9% on Wednesday . The company traded as high as GBX 160.40 and last traded at GBX 160.20. 8,635,302 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 23,019,322 shares. The stock had previously closed at GBX 145.80.

Wall Street Analyst Weigh In

PAF has been the subject of a number of recent analyst reports. Berenberg Bank restated a “buy” rating and set a GBX 154 target price on shares of Pan African Resources in a research report on Monday, February 9th. Canaccord Genuity Group raised 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 note on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 157.

Pan African Resources Stock Performance

The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 35.80. The firm has a market capitalization of £3.25 billion, a PE ratio of 22.37, a PEG ratio of 8.95 and a beta of 0.89. The stock’s 50 day moving average price is GBX 127.72 and its two-hundred day moving average price is GBX 98.70.

Pan African Resources Company Profile