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General information

Sector: Basic Materials

The company is not available at Interactive Brokers

Pan African Resources (JSE:PAN) is a mid-tier African-focused gold producer with a production capacity in excess of 170,000oz of gold per annum. The company owns and operates a portfolio of high-quality, low-cost operations and projects, which are located in South Africa.

The company is not a faceless organisation but a group of people united around a common purpose and values. The company constantly balances its financial and business goals against its human goals. Pan African Resources strives for growth but also sustainability. Efficiencies but never at the cost of communities or the environment. The company strives for profits but will never compromise on the safety of its people.

Sustainability

Pan African Resources views sustainability as a core business priority and critical to the group’s ability to operate successfully. Sustainability challenges, such as climate change, resource scarcity and energy efficiency are everyday business realities that impact the mining industry. Managing these issues underpins the company's license to operate.



  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 2.4% (LTM), projected 2.4%
  • Share price is 87.2% higher than minimum and 0.0% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (5.2x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (5.1x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)5.39
Share price, USD: 0.2849
Common stocks: 2 165 120 594

Dividend Yield:  0.0%
FCF Yield LTM / expected: 2.4% / 2.4%
EV / LTM EBITDA: 5.2x
Last revenue growth (y/y):  -9.6%
Last growth of EBITDA (y/y):  +1.9%
Historical revenue growth:  +1.5%
Historical growth of EBITDA:  +4.7%
EV / expected EBITDA:
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 617
Net Debt ($m): 22
EV (Enterprise Value): 638
EBITDA LTM ($m): 122
EV / LTM EBITDA: 5.2x
Price to Book: 2.10x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

Reuters Headlines

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

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.

2020-09-16

JSE:PAN

Record bullion prices give South African gold miners a lifeline, risks remain

South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.

2020-08-07

JSE:GFI JSE:SSW JSE:NED JSE:AVI JSE:PAN JSE:JSE

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Releases

2022-07-25
TR-1: Standard form for notification of major holdings
2022-07-14
Operational update for FY2022 - Record annual gold production and significant reduction in net senior debt
2022-07-07
TR-1: Standard form for notification of major holdings
2022-06-30
Pan African successfully concludes Mintails’ Mogale Gold Definitive Feasibility Study (“DFS”)
2022-06-14
TR-1: Standard form for notification of major holdings
2022-06-01
Appointment of Berenberg as Joint Broker
2022-05-12
Pan African Resources PLC - Completion of Phase 1 of share buyback
2022-05-10
Pan African successfully commissions 10MW solar photovoltaic (PV) plant at Evander Gold Mines
2022-05-10
Pan African Resources PLC - Transaction in own shares
2022-05-09
Pan African Resources PLC Transaction in own shares
2022-05-06
Pan African successfully explores extensions of its world class ore bodies at Barberton Mines
2022-04-26
Pan African Resources PLC Transaction in own shares
2022-04-26
Pan African Resources PLC - Transaction in own shares
2022-04-25
Pan African Resources PLC - Transaction in own shares
2022-04-22
Pan African Resources PLC - Transaction in own shares
2022-04-21
Pan African Resources PLC transaction in own shares
2022-04-12
Pan African Resources PLC – Transaction in own shares
2022-04-11
TR-1: Standard form for notification of major holdings
2022-04-07
Pan African Resources PLC transaction in own shares
2022-04-04
Pan African Resources PLC – Transaction in own shares
2022-04-01
Pan African Resources PLC share buyback programme
2022-03-14
Pan African Resources initiates gold exploration programme in the Republic of the Sudan
2022-03-07
TR-1: Standard form for notification of major holdings

SENS Announcements

2024-02-14
Unaudited interim financial results for the six months ended 31 December 2023
2022-11-25
Results of annual general meeting and salient dividend dates
2022-11-09
TR-1: Standard form for notification of major holdings
2022-11-09
TR-1: Standard form for notification of major holdings
2022-10-26
Notice of annual general meeting and no change statement
2022-10-25
Availability of medium term note roadshow investor presentation
2022-10-12
TR-1: Standard form for notification of major holdings
2022-10-06
Pan African closes transaction to acquire Mintails SA assets
2022-09-14
Provisional summarised audited results for the year ended 30 June 2022
2022-09-01
Mintails SA transaction update
2022-07-25
TR-1: Standard form for notification of major holdings
2022-07-14
Operational update for FY2022 - Record annual gold production and significant reduction in net senior debt
2022-07-07
TR-1: Standard form for notification of major holdings
2022-06-30
Pan African successfully concludes Mintails’ Mogale Gold Definitive Feasibility Study (“DFS”)
2022-06-14
TR-1: Standard form for notification of major holdings
2022-06-01
Appointment of Berenberg as Joint Broker
2022-05-12
Pan African Resources PLC - Completion of Phase 1 of share buyback
2022-05-10
Pan African successfully commissions 10MW solar photovoltaic (PV) plant at Evander Gold Mines
2022-05-10
Pan African Resources PLC - Transaction in own shares
2022-05-09
Pan African Resources PLC Transaction in own shares