Pan African Resources PLC (OTCMKTS:PAFRF) Short Interest Update

Pan African Resources PLC (OTCMKTS:PAFRF) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 2,274,640 shares, a growth of 143.3% from the July 15th total of 935,031 shares. Based on an average daily trading volume, of 133 shares, the days-to-cover ratio is presently 17,102.6 days.

Pan African Resources Stock Performance

OTCMKTS:PAFRF opened at $1.50 on Friday. The firm has a 50-day moving average price of $1.37 and a two-hundred day moving average price of $1.79. Pan African Resources has a twelve month low of $0.80 and a twelve month high of $2.53.

Analysts Set New Price Targets

Separately, Jefferies Financial Group began coverage on Pan African Resources in a report on Monday, August 3rd. They set a “hold” rating for the company. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Pan African Resources presently has an average rating of “Hold”.

About Pan African Resources

Pan African Resources is a South Africa–focused gold mining and exploration company with diversified operations in the country’s prolific Witwatersrand and Barberton mining districts. The company’s core business activities include the extraction, processing and sale of gold from both conventional hard rock mines and retreatment of tailings. Through its flagship Evander Gold Mines and Barberton Mines operations, Pan African produces saleable gold doré bars while continuously investing in exploration and development projects to extend mine life and enhance production efficiency.

In addition to conventional mining, Pan African Resources operates a significant tailings retreatment plant at the Elikhulu Complex, which recovers gold from historic waste material and contributes to both sustainable resource utilization and environmental rehabilitation.