Pan African Resources (LON:PAF) Reaches New 1-Year High – Time to Buy?

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PAF shares. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 35 ($0.44) price objective 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 ($0.48) price target on shares of Pan African Resources in a report on Wednesday, August 14th.

Pan African Resources Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.74 and a debt-to-equity ratio of 36.10. The company has a 50 day moving average of GBX 34.63 and a 200-day moving average of GBX 29.80. The firm has a market capitalization of £736.32 million, a P/E ratio of 1,278.33, a P/E/G ratio of 8.95 and a beta of 0.89.

Pan African Resources Increases Dividend

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