Pan African Resources (LON:PAF) Shares Cross Below 200 Day Moving Average of $16.91

Pan African Resources PLC (LON:PAF – Get Rating)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 16.91 ($0.21) and traded as low as GBX 16.64 ($0.21). Pan African Resources shares last traded at GBX 16.88 ($0.21), with a volume of 3,066,048 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 32 ($0.40) target price on shares of Pan African Resources in a research report on Monday, March 13th.

Pan African Resources Stock Performance

The stock has a market cap of £259.58 million, a P/E ratio of 844.00, a PEG ratio of 8.95 and a beta of 0.70. The company has a debt-to-equity ratio of 29.73, a current ratio of 1.18 and a quick ratio of 0.74. The stock has a 50-day simple moving average of GBX 17.50 and a 200-day simple moving average of GBX 16.91.

About Pan African Resources

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Pan African Resources PLC engages in the mining, extraction, production, and the sale of gold in South Africa. The company's flagship projects include the Barberton gold project 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.