Pan African Resources (LON:PAF) Trading 4.9% Higher – Here’s What Happened

Pan African Resources PLC (LON:PAF)’s stock price traded up 4.9% during mid-day trading on Wednesday . The stock traded as high as GBX 153.80 and last traded at GBX 146.20. 11,657,466 shares were traded during mid-day trading, a decline of 39% from the average session volume of 19,187,143 shares. The stock had previously closed at GBX 139.40.

Analysts Set New Price Targets

Several research firms have weighed in on PAF. Berenberg Bank decreased their price objective on shares of Pan African Resources from GBX 190 to GBX 181 and set a “buy” rating for the company in a report on Tuesday, March 10th. Canaccord Genuity Group boosted 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 170.50.

Pan African Resources Stock Up 4.9%

The firm’s 50-day simple moving average is GBX 148.39 and its 200 day simple moving average is GBX 117.52. The company has a debt-to-equity ratio of 20.15, a quick ratio of 0.74 and a current ratio of 0.98. The stock has a market capitalization of £2.96 billion, a P/E ratio of 12.22, a PEG ratio of 8.95 and a beta of 0.66.

About Pan African Resources