Short Interest in Pan African Resources PLC (OTCMKTS:PAFRF) Expands By 129.7%

Pan African Resources PLC (OTCMKTS:PAFRF) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 23,200 shares, an increase of 129.7% from the September 15th total of 10,100 shares. Based on an average trading volume of 4,400 shares, the short-interest ratio is currently 5.3 days.

OTCMKTS PAFRF remained flat at $$0.22 on Thursday. Pan African Resources has a fifty-two week low of $0.21 and a fifty-two week high of $0.35. The stock has a fifty day simple moving average of $0.23.

Several brokerages have weighed in on PAFRF. BMO Capital Markets began coverage on Pan African Resources in a report on Friday, September 24th. They set an “outperform” rating for the company. Berenberg Bank reissued a “buy” rating on shares of Pan African Resources in a report on Thursday, July 8th.

About Pan African Resources

Pan African Resources Plc engages in the exploration, mining and production of precious metals. It operates through the following segments: Barberton Mines, Evander Mines, Corporate Office & Other, and Funding Company. The Barberton Mines segment sells gold to financial institutions located in Barberton, South Africa.

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