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Pan African Resources (LON:PAF) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Pan African Resources logo with Basic Materials background

Pan African Resources PLC (LON:PAF - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 27.26 ($0.36) and traded as high as GBX 33.80 ($0.44). Pan African Resources shares last traded at GBX 33.80 ($0.44), with a volume of 2,974,861 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on PAF shares. 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 reissued 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.

Check Out Our Latest Report on PAF

Pan African Resources Trading Up 1.8 %

The company has a debt-to-equity ratio of 36.10, a quick ratio of 0.74 and a current ratio of 0.71. The stock has a market cap of £660.48 million, a PE ratio of 1,140.00, a PEG ratio of 8.95 and a beta of 0.89. The stock has a fifty day moving average price of GBX 31.08 and a 200 day moving average price of GBX 27.26.

Pan African Resources Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 28th will be issued a dividend of GBX 0.96 ($0.01) per share. This represents a yield of 3.22%. This is an increase from Pan African Resources's previous dividend of $0.75. The ex-dividend date is Thursday, November 28th. Pan African Resources's dividend payout ratio is presently 3,333.33%.

About Pan African Resources

(Get Free Report)

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.

Further Reading

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