Resolute Mining (LON:RSG) Stock Price Up 2.6% – Here’s What Happened

Shares of Resolute Mining Limited (LON:RSG) shot up 2.6% on Thursday . The stock traded as high as GBX 79.80 and last traded at GBX 78. 33,782 shares changed hands during trading, a decline of 79% from the average session volume of 160,072 shares. The stock had previously closed at GBX 76.

Wall Street Analyst Weigh In

Several research firms have commented on RSG. JPMorgan Chase & Co. cut their price target on Resolute Mining to GBX 635 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Berenberg Bank cut their price target on Resolute Mining to GBX 600 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 110 price target on shares of Resolute Mining in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 448.33.

Resolute Mining Stock Performance

The firm has a market cap of £1.67 billion, a price-to-earnings ratio of 13.02 and a beta of 1.53. The company has a quick ratio of 0.41, a current ratio of 1.01 and a debt-to-equity ratio of 29.62. The stock has a fifty day moving average price of GBX 73.65 and a 200-day moving average price of GBX 62.71.

Resolute Mining Company Profile

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. The Company trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG.