Pan African Resources (LON:PAF) Shares Down 10.6% – Here’s What Happened

Pan African Resources PLC (LON:PAF) shares dropped 10.6% during mid-day trading on Monday . The stock traded as low as GBX 123.10 and last traded at GBX 123.10. Approximately 3,997,716 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 30,241,848 shares. The stock had previously closed at GBX 137.70.

Wall Street Analysts Forecast Growth

PAF has been the subject of several recent research reports. Berenberg Bank reduced their price target on Pan African Resources from GBX 190 to GBX 181 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Canaccord Genuity Group boosted their price target on Pan African Resources from GBX 135 to GBX 160 and gave the company a “buy” rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 170.50.

Pan African Resources Trading Down 10.6%

The business has a 50-day moving average price of GBX 144.53 and a two-hundred day moving average price of GBX 134.69. The stock has a market capitalization of £2.50 billion, a P/E ratio of 10.29, a P/E/G ratio of 8.95 and a beta of 0.78. The company has a current ratio of 0.98, a quick ratio of 0.74 and a debt-to-equity ratio of 20.15.

Insider Buying and Selling at Pan African Resources

In other news, insider Keith Spencer sold 1,000,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of GBX 157, for a total transaction of £1,570,000. Insiders own 2.15% of the company’s stock.

About Pan African Resources