Pan African Resources (LON:PAF) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Pan African Resources PLC (LON:PAF) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 35.30 ($0.44) and traded as high as GBX 35.45 ($0.44). Pan African Resources shares last traded at GBX 34.10 ($0.43), with a volume of 3,362,062 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 35 ($0.44) target price on shares of Pan African Resources in a research note on Wednesday, September 11th.

Pan African Resources Trading Up 0.4 %

The firm has a market capitalization of £657.27 million, a P/E ratio of 1,141.10, a P/E/G ratio of 8.95 and a beta of 0.89. 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 stock has a 50 day simple moving average of GBX 35.30 and a 200-day simple moving average of GBX 32.03.

About Pan African Resources

Pan African is an African-focused mid-tier gold producer, with annual production capacity of over 200,000 oz/year from long-life (+20 years) underground mines in the prolific Witwatersrand Basin and the Barberton Greenstone Belt, as well as from low-cost high-margin environmentally remediating surface remining operations.