Pan African Resources (LON:PAF) Trading 9.9% Higher – Time to Buy?

Pan African Resources PLC (LON:PAF) shares traded up 9.9% on Wednesday . The stock traded as high as GBX 160.40 and last traded at GBX 160.20. 8,635,302 shares traded hands during 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 Analysts Forecast Growth

Several research firms have recently commented on PAF. Canaccord Genuity Group upped their target price 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 restated a “buy” rating and set a GBX 154 price objective on shares of Pan African Resources in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 157.

Pan African Resources Stock Performance

The company has a market cap of £3.25 billion, a P/E ratio of 22.37, a PEG ratio of 8.95 and a beta of 0.89. The stock has a fifty day moving average price of GBX 127.72 and a two-hundred day moving average price of GBX 98.70. The company has a debt-to-equity ratio of 35.80, a current ratio of 0.78 and a quick ratio of 0.74.

Pan African Resources Company Profile