Research, Charts & Company Announcements
Research Tree offers PAN AFRICAN RESOURCES PLC research coverage from 4 professional analysts, and we have 12 reports on our platform.
Our simple but effective charting function allows for a quick scan of PAN AFRICAN RESOURCES PLC's performance over multiple time horizons.
Frequency of research reports
Research reports on PAN AFRICAN RESOURCES PLC
Providers covering PAN AFRICAN RESOURCES PLC
28 Oct 16
This quarter’s topic: We look at some recent smaller company mine start-ups. Some have been impeccably managed, with projects coming in ahead of schedule and on or under budget. Others have suffered teething problems before settling down whereas a few have fallen seriously short of expectations and have required substantial refinancing.
New dividend policy unveiled
28 Sep 16
Pan African’s FY16 results were closely in line with Edison’s expectations. Excluding Uitkomst, revenue of £164.7m compared with our forecast of £165.1m and costs of £103.9m compared with our forecast of £104.6m; precious metal mining profit was therefore £49.3m vs our expectation of £48.9m. The only material negative variance was in ‘other expenses’, where a loss of £12.2m (largely attributable to a mark-to-market loss on its small hedge position) compared with our expectation of an £8.9m loss, with the result that actual earnings were £25.5m (or 1.41p for EPS and HEPS) vs our expectation of 1.48p/share. Normalised HEPS and EPS were reported to be ZAR0.4424/share, or 2.08p/share (Edison conversion).
18 Aug 16
Continuing its tradition, Pan African (PAF) has released a trading statement under paragraph 3.4 (b) of the JSE listing requirements stating that its FY16 results will differ by at least 20% cf FY15. In this case, PAF has indicated that headline EPS (HEPS) will be 114-134% higher at 1.37-1.50p and that normalised HEPS (excluding financial instruments) will be 208-228% higher at 2.00-2.13p.
Consensus eps falling…falling…falling…rising 2.0
29 Apr 16
In January we screened for companies with estimates that had been declining consistently since a year previously, but which had risen in the immediately preceding three months (see our note dated 22 January 2016). We have reviewed the performance of those companies and, given the overall strength of this selection, we have re-run the screen. In the c.3 months since selection, the unweighted average rise was c.34% against a c.11% rise in the main All-Share index. From the same universe as before (some 900 companies) we find 38 companies selected by the screen. We note a number of stocks in the list where we have a supportive stance including: Devro (DVO LN, Buy), James Fisher (FSJ LN, Corporate), Mattioli Woods (MTW LN, Buy) and Spirent Communications (SPT LN, Buy).
Tailings: finnCap Mining sector quarterly report (Issue 2)
21 Mar 16
This quarter’s topic: We consider the possibility that the Mining sector may have reached the low point of the current cycle. The finnCap 40 Mining Index has now been running since March 2014. Since our previous quarterly it has begun to show signs of recovery, with strong price appreciation since the start of 2016. The index low was reached on 20 January; since then it has risen by nearly 37%. It is far too soon to call a definite bottom in this cycle, but nevertheless this is encouraging.
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21 Oct 16
STM* (STM): Acquisition of London & Colonial (CORP) | Hurricane Energy (HUR): £70m placing and open offer (BUY) | Firestone Diamonds* (FDI): Liqhobong commissioning update (BUY) | Accsys (AXS): Acorn aiming to be a mighty oak – analyst interview (BUY) | Avacta* (AVCT): Act now… – analyst interview (CORP) | Tristel* (TSTL): Full year 2016 results – analyst interview (CORP)