Pan African Resources (LON:PAF) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Pan African Resources (LON:PAF) in a report published on Wednesday, Marketbeat.com reports. They currently have a GBX 35 ($0.46) target price on the stock.

Separately, Berenberg Bank reissued a buy rating and set a GBX 38 ($0.50) price target on shares of Pan African Resources in a research note on Wednesday, August 14th.

Pan African Resources Stock Performance

Pan African Resources stock opened at GBX 29.85 ($0.39) on Wednesday. The company has a debt-to-equity ratio of 28.41, a current ratio of 1.05 and a quick ratio of 0.74. The firm has a market capitalization of £573.16 million, a P/E ratio of 961.67, a price-to-earnings-growth ratio of 8.95 and a beta of 0.80. Pan African Resources has a 1-year low of GBX 12.86 ($0.17) and a 1-year high of GBX 31.80 ($0.42). The company’s 50-day moving average is GBX 28.75 and its 200 day moving average is GBX 25.41.

Pan African Resources Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 28th will be paid a GBX 0.96 ($0.01) dividend. This represents a 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 (DPR) 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.