Pan African Resources (LON:PAF) Shares Down 8.1% – Here’s Why

Pan African Resources PLC (LON:PAF) was down 8.1% during mid-day trading on Wednesday . The company traded as low as GBX 117.20 and last traded at GBX 118.49. Approximately 9,457,574 shares traded hands during trading, a decline of 60% from the average daily volume of 23,848,684 shares. The stock had previously closed at GBX 129.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 112 price objective on shares of Pan African Resources in a report on Thursday, November 27th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 112.

Pan African Resources Price Performance

The business has a 50-day moving average of GBX 105.42 and a two-hundred day moving average of GBX 81.58. The firm has a market cap of £2.41 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 35.80.

Pan African Resources Company Profile