The stock of Pan African Resources plc (LON:PAF) gapped up by GBX 0.375 today and has GBX 48.14 target or 132.00% above today’s GBX 20.75 share price. The 5 months technical chart setup indicates low risk for the GBX 440.63M company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 48.14 price target is reached, the company will be worth GBX 581.63 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock decreased 4.60% or GBX 1 on November 10, hitting GBX 20.75. About 4.41M shares traded hands or 87.66% up from the average. Pan African Resources plc (LON:PAF) has risen 47.37% since April 14, 2016 and is uptrending. It has outperformed by 41.72% the S&P500.
Pan African Resources plc (LON:PAF) Ratings Coverage
Out of 5 analysts covering Pan African Resources (LON:PAF), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Pan African Resources has been the topic of 15 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Numis Securities maintained the shares of PAF in a report on Thursday, September 22 with “Buy” rating. The firm has “Buy” rating by Peel Hunt given on Wednesday, September 21. HSBC maintained Pan African Resources plc (LON:PAF) rating on Friday, September 23. HSBC has “Buy” rating and GBX 24 price target. The stock has “Buy” rating given by Numis Securities on Tuesday, July 19. Peel Hunt maintained Pan African Resources plc (LON:PAF) rating on Tuesday, May 3. Peel Hunt has “Buy” rating and GBX 17 price target. HSBC maintained Pan African Resources plc (LON:PAF) on Thursday, February 25 with “Buy” rating. The firm earned “Hold” rating on Wednesday, June 15 by FinnCap. FinnCap maintained Pan African Resources plc (LON:PAF) rating on Monday, March 21. FinnCap has “Buy” rating and GBX 11.70 price target. Numis Securities maintained the shares of PAF in a report on Wednesday, August 3 with “Buy” rating. On Tuesday, October 11 the stock rating was maintained by Numis Securities with “Buy”.
More news for Pan African Resources plc (LON:PAF) were recently published by: Fool.Co.Uk, which released: “Can Royal Dutch Shell plc & Pan African Resources plc extend their 2016 gains?” on June 01, 2016. Fool.Co.Uk‘s article titled: “Do Price Falls Make Range Resources Ltd, Sound Oil plc And Pan African …” and published on June 09, 2015 is yet another important article.
Pan African Resources PLC is a South-Africa based gold mining and exploration Company. The company has a market cap of 440.63 million GBP. The Firm focuses on exploitation of high grade ore-bodies that yield high margins with a low cash cost base through experienced management teams. It has a 14.73 P/E ratio. The Company’s activities include Barberton, The Barberton Tailings Retreatment Project (BTRP), Evander Gold Mines and Phoenix Platinum Project.
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