Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Pan African Resources PLC    PAF   GB0004300496

PAN AFRICAN RESOURCES PLC

(PAF)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/23 11:38:42 am
20.7 GBX   +0.49%
02:01aPAN AFRICAN RESOURCES : to trade on OTCQX Market in the US
PR
10/13PAN AFRICAN RESOURCES : s) in Company
PR
09/18PAN AFRICAN RESOURCES : Director/PDMR Shareholding
PR
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Pan African Resources : Gold miner Pan African counts on gold price to maintain strong growth, says CEO

share with twitter share with LinkedIn share with facebook
09/16/2020 | 12:23pm EDT

* Firm could maintain growth if gold price is steady

* Company to be debt free by June 2021

* Weak rand against dollar natural hedge for gold miners

JOHANNESBURG, Sept 16 (Reuters) - South African gold miner Pan African Resources could maintain its strong rate of profit growth and dividend payout in the current financial year if gold prices remain at current levels, its chief executive Cobus Loots said on Wednesday.

Pan African, which produced around 180,000 ounces of gold metal last year to beat its own guidance, posted a 92.4% increase in its headline earnings per share (HEPS) - South Africa's main profit measure - to 2.29 U.S. cents for the year ended June 2020, it said in a statement.

"The earnings growth had been on the back of much lower gold prices that were there most part of last year. If gold prices are resilient, then that bodes well," Loots told Reuters in an interview.

He did not want to comment on specific numbers but said the momentum could be continued.

Pan African will pay a final dividend for the year at 312.9 million rand ($19.21 million), more than six times what it paid out last year.

Record gold prices, which surpassed the milestone of $2000 per ounce early August, have given a lifeline to South African gold miners, and have been helped by a weak currency.

Gold prices rose by up to 28% in the last fiscal year while the rand depreciated against the dollar by around 18%. This made the local currency production cost of the metal cheaper, while while the selling price, in dollars, was higher.

The company aims to be net debt free by June 2021, the 41-year old chief executive of the mining company said. (Reporting by Promit Mukherjee;Editing by Elaine Hardcastle)


Stocks mentioned in the article
ChangeLast1st jan.
GOLD -0.20% 1901.174 Delayed Quote.26.64%
PAN AFRICAN RESOURCES PLC 0.49% 20.7 Delayed Quote.72.50%
share with twitter share with LinkedIn share with facebook
All news about PAN AFRICAN RESOURCES PLC
02:01aPAN AFRICAN RESOURCES : to trade on OTCQX Market in the US
PR
10/13PAN AFRICAN RESOURCES : s) in Company
PR
09/18PAN AFRICAN RESOURCES : Director/PDMR Shareholding
PR
09/17PAN AFRICAN RESOURCES : Restructure of Long-term Incentive Schemes
PR
09/16PAN AFRICAN RESOURCES : Gold miner Pan African counts on gold price to maintain ..
RE
09/16PAN AFRICAN RESOURCES : Provisional Summarised Audited Results
PR
09/01PAN AFRICAN RESOURCES : s) in Company
PR
09/01PAN AFRICAN RESOURCES : Trading Statement
PR
09/01PAN AFRICAN RESOURCES : Change of Nomad and Broker
PR
08/14PAN AFRICAN RESOURCES : s) in Company
PR
More news
Financials
Sales 2021 252 M 329 M 329 M
Net income 2021 87,5 M 114 M 114 M
Net Debt 2021 0,75 M 0,98 M 0,98 M
P/E ratio 2021 4,54x
Yield 2021 4,35%
Capitalization 397 M 520 M 519 M
EV / Sales 2021 1,58x
EV / Sales 2022 1,19x
Nbr of Employees 2 126
Free-Float 68,6%
Chart PAN AFRICAN RESOURCES PLC
Duration : Period :
Pan African Resources PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PAN AFRICAN RESOURCES PLC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Average target price 31,00 GBX
Last Close Price 20,60 GBX
Spread / Highest target 50,5%
Spread / Average Target 50,5%
Spread / Lowest Target 50,5%
EPS Revisions
Managers
NameTitle
Cobus Loots Chief Executive Officer & Executive Director
Keith Cousens Spencer Independent Non-Executive Chairman
Andre van den Bergh Chief Operating Officer
Gideon Petrus Louw Finance Director & Executive Director
Niel Symington Group Manager-Management Accounting & IT
Sector and Competitors
1st jan.Capitalization (M$)
PAN AFRICAN RESOURCES PLC71.67%520
NEWMONT CORPORATION39.33%49 423
BARRICK GOLD CORPORATION49.09%48 687
POLYUS136.97%29 425
WHEATON PRECIOUS METALS CORP.68.43%22 218
AGNICO EAGLE MINES LIMITED29.33%19 754