Resolute Mining (LON:RSG) Trading 7.9% Higher – Here’s What Happened

Resolute Mining Limited (LON:RSG)’s share price shot up 7.9% during trading on Friday . The company traded as high as GBX 56 and last traded at GBX 54.60. 177,693 shares were traded 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.

Analyst Ratings Changes

RSG has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Resolute Mining to GBX 635 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Stifel Nicolaus restated a “buy” rating and set a GBX 110 price objective on shares of Resolute Mining in a report on Thursday, March 5th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 105 target price on shares of Resolute Mining in a research report on Thursday. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 283.33.

Resolute Mining Stock Performance

The firm has a market cap of £1.17 billion, a P/E ratio of 9.12 and a beta of 1.33. 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’s 50-day moving average is GBX 64.92 and its two-hundred day moving average is GBX 67.32.

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.