Pan African Resources (LON:PAF) Sets New 1-Year High at $33.46

Pan African Resources PLC (LON:PAF) shares hit a new 52-week high during trading on Thursday . The company traded as high as GBX 33.46 ($0.44) and last traded at GBX 33.45 ($0.44), with a volume of 939881 shares trading hands. The stock had previously closed at GBX 32.60 ($0.43).

Analysts Set New Price Targets

Several equities research analysts have issued reports on PAF shares. Berenberg Bank restated a “buy” rating and set a GBX 38 ($0.50) price objective on shares of Pan African Resources in a report on Wednesday, August 14th. Canaccord Genuity Group reissued a “buy” rating and set a GBX 35 ($0.46) price objective on shares of Pan African Resources in a report on Wednesday, September 11th.

Pan African Resources Trading Up 3.4 %

The company has a debt-to-equity ratio of 35.91, a current ratio of 0.71 and a quick ratio of 0.74. The business’s fifty day simple moving average is GBX 29.24 and its 200 day simple moving average is GBX 25.87. The stock has a market cap of £647.04 million, a price-to-earnings ratio of 1,115.00, a P/E/G ratio of 8.95 and a beta of 0.80.

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 represents a dividend yield of 3.22%. The ex-dividend date of this dividend is Thursday, November 28th. This is an increase from Pan African Resources’s previous dividend of $0.75. Pan African Resources’s dividend payout ratio is currently 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.