IN BRIEF: Pan African Resources stock up after upbeat interim guidance

Pan African Resources PLC - Rosebank-headquartered gold producer - Expects interim earnings to ...

Alliance News 2 February, 2024 | 8:27AM
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Pan African Resources PLC - Rosebank-headquartered gold producer - Expects interim earnings to surge at least 41% due to strong revenue. Guides for a sharp rise in earnings per share and headline EPS to a range of between 2.14 US cents and 2.30 cents for the first six months that ended December 31, from 1.52 cents a year earlier. This amounts to an increase of between 41% and 51%. Says these likely robust earnings are largely attributed to a 24% jump in revenue to USD193.9 million from USD156.5 million in the first half. Over this period, gold sold volumes rose 8.9% to 98,458 ounces from 90,439 ounces, and the average gold price climbed 14% to USD1,961 an ounce from USD1,725 an ounce.

Current stock price in Johannesburg: ZAR4.45, up 3.0% on Friday morning

12-month change: up 25%

Current stock price in London: 18.60 pence, up 3.8%

12-month change: up 13%

By Artwell Dlamini, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Pan African Resources PLC 47.80 GBX 4.03 -

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