Resolute Mining (LON:RSG) Shares Down 9.5% – What’s Next?

Resolute Mining Limited (LON:RSG)’s share price fell 9.5% on Wednesday . The company traded as low as GBX 51.20 and last traded at GBX 51.40. Approximately 629,910 shares were traded 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 Analyst Weigh In

Several research firms recently weighed in on RSG. JPMorgan Chase & Co. dropped their price objective on shares of Resolute Mining to GBX 635 and set an “overweight” rating for the company in a research report on Thursday, March 26th. Stifel Nicolaus reissued a “buy” rating and issued a GBX 110 target price on shares of Resolute Mining in a research note on Thursday, March 5th. Finally, Berenberg Bank dropped their target price on Resolute Mining from GBX 109 to GBX 107 and set a “buy” rating for the company in a research report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Resolute Mining has an average rating of “Buy” and an average target price of GBX 284.

Resolute Mining Stock Down 9.5%

The firm’s 50 day moving average price is GBX 66.42 and its 200-day moving average price is GBX 67.46. The company has a current ratio of 1.01, a quick ratio of 0.41 and a debt-to-equity ratio of 29.62. The company has a market cap of £1.10 billion, a P/E ratio of 8.58 and a beta of 1.33.

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.