Pan African Resources (PAF)

Sector:

Mining

Index:

FTSE AIM 100

21.85p
   
  • Change Today:
    -0.050p
  • 52 Week High: 22.00
  • 52 Week Low: 12.02
  • Currency: UK Pounds
  • Shares Issued: 2,222.86m
  • Volume: 1,736,855
  • Market Cap: £485.70m
  • RiskGrade: 255

Sector movers: Mining stocks rise strongly, Glencore Xstrata gains

Date: Monday 17 Mar 2014

LONDON (ShareCast) - The FTSE 350 mining sector, which fell nearly four per cent last week on the back of uncertainties surrounding Ukraine and fears of a slowdown in China, recovered strongly on Monday with Glencore Xstrata among the best performers in London.

Glencore Xstrata was trading 3.3% higher at 306.8p this afternoon on speculation that it is close to a deal to sell its Las Bambas copper mine in Peru.

According to The Wall Street Journal, Glencore Xstrata and Chinese state-controlled copper firm China Minmetals Corp are hoping to sign an agreement at a final meeting on Tuesday.

The proposed disposal of Las Bambas, expected to be valued at around $5bn, was agreed by Glencore at the time of its merger with Xstrata in May 2013 in an effort for the deal to win approval from Chinese regulators.

Speaking earlier this month, analysts at Jefferies said: “We expect at least a portion of what should be circa $5bn of proceeds from a Las Bambas sale to be returned to shareholders via a special dividend.”

Other mining stocks were performing well today, with heavyweights Anglo American, BHP Billiton and Antofagasta also making decent gains.

As of 13:30 three month copper futures were moving higher by 0.6% to $6,542.50 on the LME.

Meanwhile, precious metal miners Pan African Resources, Polymetal and Petropavlovsk were in demand as gold prices continue to trade near a six-month high.

Despite the recent run in gold, Canaccord Genuity believes prices have further to go: “Given the worries of further potential corporate bond defaults in China and global geopolitical tensions between Russia and the West over Ukraine we see potential for the gold price to rally further in the near term.”

The broker lifted their average gold price estimate for 2014-2018 by 6% to $1,354 per ounce and their long-term projection by 5% to $1,455 per ounce.


Top performing sectors so far today
Industrial Metals & Mining 819.46 +2.97%
Mining 16,365.06 +2.45%
Forestry & Paper 11,762.32 +2.06%
General Retailers 2,957.50 +1.98%
Software & Computer Services 1,178.61 +1.97%

Bottom performing sectors so far today
Food & Drug Retailers 3,947.01 -0.95%
Beverages 13,190.39 -0.43%
Tobacco 36,527.18 -0.23%
Health Care Equipment & Services 5,222.23 -0.02%

BC

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PAF Market Data

Currency UK Pounds
Share Price 21.85p
Change Today -0.050p
% Change -0.23 %
52 Week High 22.00
52 Week Low 12.02
Volume 1,736,855
Shares Issued 2,222.86m
Market Cap £485.70m
RiskGrade 255

PAF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.12% above the market average78.12% above the market average78.12% above the market average78.12% above the market average78.12% above the market average
40.46% above the sector average40.46% above the sector average40.46% above the sector average40.46% above the sector average40.46% above the sector average
Price Trend
86.63% above the market average86.63% above the market average86.63% above the market average86.63% above the market average86.63% above the market average
88.81% above the sector average88.81% above the sector average88.81% above the sector average88.81% above the sector average88.81% above the sector average
Income
62.63% above the market average62.63% above the market average62.63% above the market average62.63% above the market average62.63% above the market average
4.35% below the sector average4.35% below the sector average4.35% below the sector average4.35% below the sector average4.35% below the sector average
Growth
81.42% below the market average81.42% below the market average81.42% below the market average81.42% below the market average81.42% below the market average
59.38% below the sector average59.38% below the sector average59.38% below the sector average59.38% below the sector average59.38% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PAF Dividends

  Latest Previous
  Final Final
Ex-Div 30-Nov-23 01-Dec-22
Paid 12-Dec-23 13-Dec-22
Amount 0.75p 0.91p

Trades for 28-Mar-2024

Time Volume / Share Price
12:21 1,572 @ 21.85p
12:21 10 @ 21.85p
12:21 705 @ 21.85p
12:21 8,000 @ 21.85p
12:21 1,883 @ 21.85p

PAF Key Personnel

CEO Cobus Loots
Finance Director Deon Louw

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