Pan African Resources (LON:PAF) Share Price Passes Below 200 Day Moving Average of $0.00

Pan African Resources plc (LON:PAF)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as low as $12.94. Pan African Resources shares last traded at $13.02, with a volume of 440,442 shares changing hands.

A number of brokerages recently weighed in on PAF. Peel Hunt boosted their price objective on shares of Pan African Resources from GBX 15.50 ($0.20) to GBX 16.50 ($0.22) and gave the company a “buy” rating in a research report on Wednesday, July 10th. Numis Securities reaffirmed a “buy” rating on shares of Pan African Resources in a research report on Monday, June 3rd.

The company has a current ratio of 0.41, a quick ratio of 0.31 and a debt-to-equity ratio of 85.83. The stock has a market cap of $252.61 million and a P/E ratio of -2.73. The firm’s 50-day simple moving average is GBX 11.54 and its 200 day simple moving average is GBX 10.10.

About Pan African Resources (LON:PAF)

Pan African Resources PLC engages in the exploration of precious metals in South Africa. It operates through Barberton Mines, Evander Mines, Corporate, and Funding Company segments. The company primarily explores gold ores, platinum-group elements, and coal. Its principal property is the Barberton gold project that consists of three mines, including Fairview, New Consort, and Sheba located in the Mpumalanga Province.

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