Pan African Resources (LON:PAF) Hits New 52-Week High – What’s Next?

Pan African Resources PLC (LON:PAF)’s share price reached a new 52-week high during trading on Friday . The company traded as high as GBX 39 ($0.49) and last traded at GBX 38.85 ($0.49), with a volume of 1844446 shares traded. The stock had previously closed at GBX 36.35 ($0.46).

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 38 ($0.48) price objective on shares of Pan African Resources in a research note on Wednesday, August 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 35 ($0.44) price target on shares of Pan African Resources in a report on Wednesday, September 11th.

Pan African Resources Trading Up 7.6 %

The company has a debt-to-equity ratio of 36.10, a current ratio of 0.71 and a quick ratio of 0.74. The company has a market cap of £750.82 million, a price-to-earnings ratio of 1,211.67, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. The business’s fifty day moving average price is GBX 34.46 and its 200 day moving average price is GBX 29.70.

Pan African Resources Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 28th will be issued a GBX 0.96 ($0.01) dividend. This is a positive change from Pan African Resources’s previous dividend of $0.75. The ex-dividend date is Thursday, November 28th. This represents a yield of 3.22%. Pan African Resources’s 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.