Pan African Resources PLC (LON:PAF – Get Free Report) hit a new 52-week high on Monday . The stock traded as high as GBX 35.65 ($0.47) and last traded at GBX 35.49 ($0.46), with a volume of 3008044 shares traded. The stock had previously closed at GBX 34.40 ($0.45).
Analyst Upgrades and Downgrades
PAF has been the subject of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 35 ($0.46) target price on shares of Pan African Resources in a research report on Wednesday, September 11th. Berenberg Bank reiterated a “buy” rating and issued a GBX 38 ($0.50) price target on shares of Pan African Resources in a research note on Wednesday, August 14th.
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Pan African Resources Stock Performance
Pan African Resources Increases Dividend
The company also recently disclosed a dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 28th will be paid a dividend of GBX 0.96 ($0.01) per share. The ex-dividend date is Thursday, November 28th. This represents a yield of 3.22%. This is a boost from Pan African Resources’s previous dividend of $0.75. Pan African Resources’s dividend payout ratio is presently 3,333.33%.
About Pan African Resources
Pan African Resources PLC engages in the mining, extraction, production, and sale of gold in South Africa. The company's flagship projects include the Barberton Mines that consists of three underground mines, including Fairview, Sheba, and Consort located in the Barberton Greenstone Belt; and Elikhulu tailings retreatment plant in Southern Africa.
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