Pan African Resources (LON:PAF) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Pan African Resources PLC (LON:PAF)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 136.31 and traded as low as GBX 97.30. Pan African Resources shares last traded at GBX 97.84, with a volume of 6,524,122 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their target price on shares of Pan African Resources from GBX 165 to GBX 153 and set a “buy” rating on the stock in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 156.50.

Pan African Resources Stock Performance

The business has a 50 day simple moving average of GBX 133.63 and a 200 day simple moving average of GBX 136.31. The company has a debt-to-equity ratio of 19.51, a current ratio of 0.98 and a quick ratio of 0.74. The company has a market cap of £1.98 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 8.95 and a beta of 0.73.

Insider Transactions at Pan African Resources

In other Pan African Resources news, insider Keith Spencer sold 1,000,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of GBX 157, for a total transaction of £1,570,000. 2.10% of the stock is currently owned by company insiders.

About Pan African Resources