Numis Securities Reiterates Buy Rating for Pan African Resources (PAF)

Pan African Resources (LON:PAF)‘s stock had its “buy” rating reissued by equities researchers at Numis Securities in a research note issued on Thursday. They presently have a GBX 20 ($0.28) price objective on the stock. Numis Securities’ price objective would suggest a potential upside of 117.63% from the company’s previous close.

Several other equities research analysts also recently commented on PAF. Peel Hunt reissued an “under review” rating on shares of Pan African Resources in a report on Tuesday. raised Pan African Resources to a “buy” rating and boosted their target price for the stock from GBX 15 ($0.21) to GBX 16 ($0.22) in a report on Tuesday, October 31st. Four analysts have rated the stock with a buy rating, Pan African Resources has an average rating of “Buy” and an average price target of GBX 19.40 ($0.27).

Shares of Pan African Resources (LON PAF) opened at GBX 9.19 ($0.13) on Thursday. Pan African Resources has a 1-year low of GBX 8.56 ($0.12) and a 1-year high of GBX 18.25 ($0.25). The company has a market capitalization of $204.70 and a price-to-earnings ratio of 919.00.

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About Pan African Resources

Pan African Resources PLC is a precious metals producer engaged in mining. The Company operates through six segments: Barberton Mines, located in Barberton South Africa, derives revenue from sale of gold to South African financial institutions; Evander Gold Mining Proprietary Limited and Evander Gold Mines Limited (collectively known as Evander Mines), located in Evander South Africa, derives revenue from sale of gold to South African financial institutions; Phoenix Platinum, located in North West province in South Africa, derives revenue from sale of platinum group element concentrate to Western Platinum Limited; Uitkomst Colliery, located in Newcastle, KwaZulu-Natal, derives revenue from sale of coal to local and export markets; Corporate office and growth projects, including PAR Gold Proprietary Limited, derives revenue from management fee from providing management and administration services to other group companies, and Funding Company, which provides treasury function activities.

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