Pan African Resources’ (PAF) Buy Rating Reiterated at Canaccord Genuity Group

Pan African Resources (LON:PAF)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a report issued on Monday, Digital Look reports. They currently have a GBX 31 ($0.40) price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 10.12% from the company’s previous close.

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 38 ($0.49) price target on shares of Pan African Resources in a report on Monday.

Pan African Resources Price Performance

Shares of Pan African Resources stock traded down GBX 0.35 ($0.00) during trading on Monday, reaching GBX 28.15 ($0.36). 2,229,881 shares of the company’s stock were exchanged, compared to its average volume of 3,307,518. 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 has a 1-year low of GBX 12.06 ($0.16) and a 1-year high of GBX 28.75 ($0.37). The company has a market cap of £540.48 million, a P/E ratio of 938.33, a PEG ratio of 8.95 and a beta of 0.67. The firm’s 50-day moving average price is GBX 26.15 and its 200 day moving average price is GBX 22.63.

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.