Resolute Mining (LON:RSG) Shares Down 9.5% – Here’s What Happened

Resolute Mining Limited (LON:RSG)’s stock price fell 9.5% during trading on Tuesday . The company traded as low as GBX 47 ($0.63) and last traded at GBX 49.24 ($0.66). 1,834,497 shares were traded during trading, an increase of 621% from the average session volume of 254,314 shares. The stock had previously closed at GBX 54.40 ($0.73).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank increased their price objective on shares of Resolute Mining from GBX 46 to GBX 65 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Resolute Mining currently has a consensus rating of “Buy” and an average target price of GBX 65.

Resolute Mining Stock Down 10.7%

The company has a market cap of £1.04 billion, a P/E ratio of 83.79 and a beta of 1.28. The company has a current ratio of 1.19, a quick ratio of 0.41 and a debt-to-equity ratio of 9.86. The firm’s 50 day moving average price is GBX 44.70 and its 200-day moving average price is GBX 34.32.

About Resolute Mining

Resolute is an African-focused gold miner with more than 30 years of experience as an explorer, developer and operator. Throughout its history the Company has produced more than 9 million ounces of gold from ten gold mines. The Company is now entering a growth phase through the development of the Doropo project in Côte d’Ivoire which will supplement the existing production from the Syama mine in Mali and Mako mine in Senegal.