Pan African Resources (LON:PAF) Sets New 12-Month High – What’s Next?

Pan African Resources PLC (LON:PAF)’s stock price reached a new 52-week high on Monday . The company traded as high as GBX 37.95 ($0.50) and last traded at GBX 37.95 ($0.50), with a volume of 703212 shares changing hands. The stock had previously closed at GBX 37.65 ($0.49).

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Canaccord Genuity Group restated a “buy” rating and issued a GBX 35 ($0.46) price target on shares of Pan African Resources in a research report on Wednesday, September 11th. Berenberg Bank reissued a “buy” rating and issued a GBX 38 ($0.50) target price on shares of Pan African Resources in a report on Wednesday, August 14th.

Pan African Resources Price Performance

The firm has a 50 day simple moving average of GBX 32.01 and a two-hundred day simple moving average of GBX 27.82. The stock has a market capitalization of £722.88 million, a P/E ratio of 1,255.00, 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 0.71 and a debt-to-equity ratio of 36.10.

Pan African Resources Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 28th will be given a dividend of GBX 0.96 ($0.01) per share. This is an increase from Pan African Resources’s previous dividend of $0.75. This represents a dividend yield of 3.22%. The ex-dividend date is Thursday, November 28th. Pan African Resources’s dividend payout ratio is currently 3,333.33%.

Pan African Resources Company Profile

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.