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

Resolute Mining Limited (LON:RSG)’s share price traded down 9.5% during mid-day trading on Wednesday . The stock traded as low as GBX 51.20 and last traded at GBX 51.40. Approximately 629,910 shares traded hands during mid-day trading, an increase of 303% from the average daily volume of 156,130 shares. The stock had previously closed at GBX 56.80.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RSG. JPMorgan Chase & Co. lowered their target price on Resolute Mining to GBX 635 and set an “overweight” rating on the stock in a research note on Thursday, March 26th. Stifel Nicolaus restated a “buy” rating and set a GBX 110 price target on shares of Resolute Mining in a report on Thursday, March 5th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 105 price objective on shares of Resolute Mining in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of GBX 283.33.

Resolute Mining Trading Up 5.5%

The company has a 50 day moving average of GBX 65.34 and a 200 day moving average of GBX 67.41. The firm has a market cap of £1.14 billion, a P/E ratio of 8.91 and a beta of 1.33. The company has a debt-to-equity ratio of 29.62, a quick ratio of 0.41 and a current ratio of 1.01.

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.