Pan African Resources (LON:PAF) Shares Down 10.6% on Analyst Downgrade

Pan African Resources PLC (LON:PAF) shares fell 10.6% during trading on Monday after Berenberg Bank lowered their price target on the stock from GBX 165 to GBX 153. Berenberg Bank currently has a buy rating on the stock. Pan African Resources traded as low as GBX 123.10 and last traded at GBX 123.10. 3,997,716 shares were traded during mid-day trading, a decline of 87% from the average session volume of 30,241,848 shares. The stock had previously closed at GBX 137.70.

Separately, Canaccord Genuity Group lifted their price objective on Pan African Resources from GBX 135 to GBX 160 and gave the stock a “buy” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Pan African Resources currently has a consensus rating of “Buy” and an average price target of GBX 156.50.

Insider Activity

In other Pan African Resources news, insider Keith Spencer sold 1,000,000 shares of Pan African Resources stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of GBX 157, for a total transaction of £1,570,000. 2.15% of the stock is owned by insiders.

Pan African Resources Stock Performance

The company has a 50-day simple moving average of GBX 144.68 and a two-hundred day simple moving average of GBX 134.98. The company has a debt-to-equity ratio of 20.15, a quick ratio of 0.74 and a current ratio of 0.98. The firm has a market capitalization of £2.32 billion, a P/E ratio of 9.58, a PEG ratio of 8.95 and a beta of 0.78.

Pan African Resources Company Profile