Pan African Resources (LON:PAF) Shares Up 8.8% – Still a Buy?

Pan African Resources PLC (LON:PAF) rose 8.8% on Wednesday . The stock traded as high as GBX 159.20 and last traded at GBX 158.60. Approximately 13,543,158 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 23,163,670 shares. The stock had previously closed at GBX 145.80.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PAF shares. Berenberg Bank reissued a “buy” rating and set a GBX 154 target price on shares of Pan African Resources in a research note on Monday, February 9th. Canaccord Genuity Group lifted their price target on shares of Pan African Resources from GBX 135 to GBX 160 and gave the company a “buy” rating in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 157.

Pan African Resources Trading Up 9.9%

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

Pan African Resources Company Profile