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

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

PAF has been the subject of a number of recent research 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 lifted their price objective on Pan African Resources from GBX 135 to GBX 160 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, Based on 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 stock 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 simple moving average of GBX 127.72 and a 200-day simple moving average of GBX 98.70. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 35.80.

About Pan African Resources