Pan African Resources (LON:PAF) Sets New 1-Year High at $31.80

Shares of Pan African Resources PLC (LON:PAF) hit a new 52-week high on Friday . The stock traded as high as GBX 31.80 ($0.42) and last traded at GBX 31.73 ($0.41), with a volume of 1134011 shares traded. The stock had previously closed at GBX 30.85 ($0.40).

Wall Street Analysts Forecast Growth

PAF has been the topic of a number of recent analyst reports. Berenberg Bank reiterated a “buy” rating and set a GBX 38 ($0.50) target price on shares of Pan African Resources in a research report on Wednesday, August 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 35 ($0.46) price objective on shares of Pan African Resources in a report on Wednesday.

Pan African Resources Trading Up 3.8 %

The company has a 50 day simple moving average of GBX 28.81 and a 200 day simple moving average of GBX 25.49. The company has a market capitalization of £614.90 million, a PE ratio of 1,028.33, a price-to-earnings-growth ratio of 8.95 and a beta of 0.80. The company has a debt-to-equity ratio of 28.41, a quick ratio of 0.74 and a current ratio of 1.05.

Pan African Resources Increases Dividend

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