Resolute Mining (LON:RSG) Stock Price Up 7.9% – Here’s What Happened

Resolute Mining Limited (LON:RSG)’s share price shot up 7.9% during trading on Friday . The stock traded as high as GBX 56 and last traded at GBX 54.60. 177,693 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 155,956 shares. The stock had previously closed at GBX 50.60.

Wall Street Analyst Weigh In

Several research firms have commented on RSG. Berenberg Bank restated a “buy” rating and issued a GBX 105 price target on shares of Resolute Mining in a report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of Resolute Mining to GBX 635 and set an “overweight” 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. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 283.33.

Resolute Mining Trading Up 7.9%

The company has a market capitalization of £1.17 billion, a PE ratio of 9.12 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. The business has a fifty day moving average price of GBX 65.34 and a 200 day moving average price of GBX 67.41.

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.