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PAF

Pan African ResourcesAIM:PAF Stock Report

Market Cap

UK£340.2m

7D

2.7%

1Y

-13.6%

Updated

26 Oct, 2021

Data

Company Financials +
PAF fundamental analysis
Snowflake Score
Valuation6/6
Future Growth1/6
Past Performance5/6
Financial Health3/6
Dividends5/6

PAF Overview

Pan African Resources PLC engages in the mining, extraction, production, and the sale of gold in South Africa.

Pan African Resources Competitors

Centamin

LSE:CEY

UK£1.1b

Shanta Gold

AIM:SHG

UK£139.9m

Hummingbird Resources

AIM:HUM

UK£70.5m

Glencore

LSE:GLEN

UK£48.9b

Price History & Performance

Summary of all time highs, changes and price drops for Pan African Resources
Historical stock prices
Current Share PriceUK£0.17
52 Week HighUK£0.15
52 Week LowUK£0.27
Beta1.03
1 Month Change4.58%
3 Month Change6.24%
1 Year Change-13.63%
3 Year Change111.71%
5 Year Change-18.31%
Change since IPO396.00%

Recent News & Updates

Shareholder Returns

PAFGB Metals and MiningGB Market
7D2.7%-2.3%0.5%
1Y-13.6%32.0%26.7%

Return vs Industry: PAF underperformed the UK Metals and Mining industry which returned 30.8% over the past year.

Return vs Market: PAF underperformed the UK Market which returned 24.7% over the past year.

Price Volatility

Is PAF's price volatile compared to industry and market?
PAF volatility
PAF Beta1.03
Industry Beta0.97
Market Beta1

Stable Share Price: PAF is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PAF's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20002,104Cobus Lootshttps://www.panafricanresources.com

Pan African Resources PLC engages in the mining, extraction, production, and the sale of gold in South Africa. Its flagship projects include the Barberton gold project that consists of three underground mines, including Fairview, Sheba, and New Consort located in the Barberton Greenstone Belt; and Elikhulu tailings retreatment plant in Southern Africa. The company was incorporated in 2000 and is based in Johannesburg, South Africa.

Pan African Resources Fundamentals Summary

How do Pan African Resources's earnings and revenue compare to its market cap?
PAF fundamental statistics
Market CapUS$468.87m
Earnings (TTM)US$74.69m
Revenue (TTM)US$368.91m

6.2x

P/E Ratio

1.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PAF income statement (TTM)
RevenueUS$368.91m
Cost of RevenueUS$212.27m
Gross ProfitUS$156.65m
ExpensesUS$81.95m
EarningsUS$74.69m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Feb 16, 2022

Earnings per share (EPS)0.039
Gross Margin42.46%
Net Profit Margin20.25%
Debt/Equity Ratio24.2%

How did PAF perform over the long term?

See historical performance and comparison

Dividends

5.3%

Current Dividend Yield

33%

Payout Ratio

Does PAF pay a reliable dividends?

See PAF dividend history and benchmarks
When do you need to buy PAF by to receive an upcoming dividend?
Pan African Resources dividend dates
Ex Dividend DateDec 02 2021
Dividend Pay DateDec 14 2021
Days until Ex dividend35 days
Days until Dividend pay date47 days

Does PAF pay a reliable dividends?

See PAF dividend history and benchmarks

Valuation

Is Pan African Resources undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PAF (£0.17) is trading below our estimate of fair value (£0.35)

Significantly Below Fair Value: PAF is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PAF is good value based on its PE Ratio (6.2x) compared to the UK Metals and Mining industry average (9.2x).

PE vs Market: PAF is good value based on its PE Ratio (6.2x) compared to the UK market (21.2x).


Price to Earnings Growth Ratio

PEG Ratio: PAF is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: PAF is good value based on its PB Ratio (1.6x) compared to the GB Metals and Mining industry average (1.9x).


Future Growth

How is Pan African Resources forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

6.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAF's forecast earnings growth (6.2% per year) is above the savings rate (0.9%).

Earnings vs Market: PAF's earnings (6.2% per year) are forecast to grow slower than the UK market (12.7% per year).

High Growth Earnings: PAF's earnings are forecast to grow, but not significantly.

Revenue vs Market: PAF's revenue is expected to decline over the next 3 years (-1.3% per year).

High Growth Revenue: PAF's revenue is forecast to decline over the next 3 years (-1.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PAF's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Pan African Resources performed over the past 5 years?

14.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAF has high quality earnings.

Growing Profit Margin: PAF's current net profit margins (20.2%) are higher than last year (16.2%).


Past Earnings Growth Analysis

Earnings Trend: PAF's earnings have grown by 14% per year over the past 5 years.

Accelerating Growth: PAF's earnings growth over the past year (68.6%) exceeds its 5-year average (14% per year).

Earnings vs Industry: PAF earnings growth over the past year (68.6%) underperformed the Metals and Mining industry 143.5%.


Return on Equity

High ROE: PAF's Return on Equity (26.3%) is considered high.


Financial Health

How is Pan African Resources's financial position?


Financial Position Analysis

Short Term Liabilities: PAF's short term assets ($84.6M) do not cover its short term liabilities ($106.0M).

Long Term Liabilities: PAF's short term assets ($84.6M) do not cover its long term liabilities ($93.5M).


Debt to Equity History and Analysis

Debt Level: PAF's debt to equity ratio (24.2%) is considered satisfactory.

Reducing Debt: PAF's debt to equity ratio has increased from 13.2% to 24.2% over the past 5 years.

Debt Coverage: PAF's debt is well covered by operating cash flow (119.9%).

Interest Coverage: PAF's interest payments on its debt are well covered by EBIT (19.1x coverage).


Balance Sheet


Dividend

What is Pan African Resources's current dividend yield, its reliability and sustainability?

5.29%

Current Dividend Yield


Upcoming Dividend Payment

TodayOct 27 2021Ex Dividend DateDec 02 2021Dividend Pay DateDec 14 202112 days from Ex DividendBuy in the next 35 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: PAF's dividend (5.29%) is higher than the bottom 25% of dividend payers in the UK market (1.39%).

High Dividend: PAF's dividend (5.29%) is in the top 25% of dividend payers in the UK market (4.08%)


Stability and Growth of Payments

Stable Dividend: PAF's dividend payments have been volatile in the past 10 years.

Growing Dividend: PAF's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.7%), PAF's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PAF's dividends in 3 years are forecast to be well covered by earnings (31.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Cobus Loots (43 yo)

6.58yrs

Tenure

US$811,900

Compensation

Mr. Jacobus Albertus Johannes Loots, also known as Cobus, C.A.(S.A.), C.F.A. has been the Chief Executive Officer of Pan African Resources PLC since March 1, 2015 and served as its Financial Director since...


CEO Compensation Analysis

Compensation vs Market: Cobus's total compensation ($USD811.90K) is about average for companies of similar size in the UK market ($USD745.27K).

Compensation vs Earnings: Cobus's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PAF's management team is considered experienced (4.2 years average tenure).


Board Members

Experienced Board: PAF's board of directors are considered experienced (6.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PAF insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pan African Resources PLC's employee growth, exchange listings and data sources


Key Information

  • Name: Pan African Resources PLC
  • Ticker: PAF
  • Exchange: AIM
  • Founded: 2000
  • Industry: Gold
  • Sector: Materials
  • Market Cap: UK£340.157m
  • Shares outstanding: 1.93b
  • Website: https://www.panafricanresources.com

Number of Employees


Location

  • Pan African Resources PLC
  • The Firs Building
  • 2nd Floor, Office 204
  • Johannesburg
  • Gauteng
  • 2196
  • South Africa

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/26 21:18
End of Day Share Price2021/10/26 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.