Pan African Resources (LON:PAF) Sets New 12-Month High - Here's Why

Shares of Pan African Resources PLC (LON:PAF - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as GBX 35.65 ($0.47) and last traded at GBX 35.49 ($0.46), with a volume of 3008044 shares. The stock had previously closed at GBX 34.40 ($0.45).

Analyst Ratings Changes

PAF has been the subject of a number of analyst reports. 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 report on Wednesday, September 11th. Berenberg Bank reaffirmed 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 Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.71 and a debt-to-equity ratio of 36.10. The company has a market cap of £682.56 million, a PE ratio of 1,185.00, a price-to-earnings-growth ratio of 8.95 and a beta of 0.89. The firm has a 50 day simple moving average of GBX 31.31 and a 200-day simple moving average of GBX 27.46.

Pan African Resources Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 28th will be paid a GBX 0.96 ($0.01) dividend. This represents a dividend yield of 3.22%. This is a boost from Pan African Resources's previous dividend of $0.75. The ex-dividend date of this dividend is Thursday, November 28th. Pan African Resources's dividend payout ratio (DPR) 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.