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

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

Wall Street Analysts Forecast Growth

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

Pan African Resources Stock Up 3.4 %

The firm has a market cap of £647.04 million, a price-to-earnings ratio of 1,115.00, a price-to-earnings-growth ratio of 8.95 and a beta of 0.80. The company has a quick ratio of 0.74, a current ratio of 0.71 and a debt-to-equity ratio of 35.91. The stock’s 50 day moving average is GBX 29.24 and its 200 day moving average is GBX 25.87.

Pan African Resources Increases Dividend

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