Update shared on21 Sep 2025
Fair value Increased 14%Despite sharply lower revenue growth forecasts, Pan African Resources’ consensus price target has increased, largely driven by a higher expected valuation multiple (Future P/E rising from 3.76x to 6.58x), resulting in the price target climbing from £0.662 to £0.752.
What's in the News
- Issued FY26 production guidance: H1 between 130,000–137,000oz, H2 between 145,000–155,000oz, and full year 275,000–292,000oz, driven by contributions from new MTR and Tennant Mines operations.
- FY26 AISC guidance set at USD 1,525/oz–1,575/oz, assuming USD/ZAR:18.50.
- Achieved record gold production of 111,822oz in FY25 H2, up 28% from previous period.
- Initiated a share buyback program, with authorization to repurchase up to 111,734,375 shares (5% of issued capital) at minimum 1 pence per share and maximum price not exceeding 5% above average closing price.
- Entered agreement with Peel Hunt LLP to execute up to £8.2 million (ZAR 200 million/$11.1 million) in share repurchases, commencing July 1, 2025.
Valuation Changes
Summary of Valuation Changes for Pan African Resources
- The Consensus Analyst Price Target has significantly risen from £0.662 to £0.752.
- The Future P/E for Pan African Resources has significantly risen from 3.76x to 6.58x.
- The Consensus Revenue Growth forecasts for Pan African Resources has significantly fallen from 36.0% per annum to 20.3% per annum.
Disclaimer
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