Resolute Mining Limited (OTCMKTS:RMGGF) Sees Large Decline in Short Interest

Resolute Mining Limited (OTCMKTS:RMGGF) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 3,228,499 shares, a drop of 46.4% from the July 30th total of 6,024,331 shares. Based on an average daily volume of 1,481 shares, the days-to-cover ratio is currently 2,179.9 days.

Analyst Ratings Changes

Separately, Royal Bank Of Canada initiated coverage on Resolute Mining in a report on Friday, August 7th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Resolute Mining Stock Performance

Resolute Mining stock opened at $1.02 on Tuesday. The business has a 50-day moving average of $0.74 and a 200-day moving average of $0.86. Resolute Mining has a 1 year low of $0.44 and a 1 year high of $1.22.

Resolute Mining Company Profile

Resolute Mining Limited, trading OTC under the symbol RMGGF, is an Australian‐based gold producer focused on the exploration, development and operation of gold mining assets across Africa and Australia. The company’s core activities include open‐pit and underground mining, ore processing and the sale of gold dore bars to regional refineries. Resolute’s vertically integrated approach encompasses the full mining lifecycle, from early‐stage exploration to sustained production and asset optimisation.

Resolute’s principal operating assets include the Syama Gold Mine in Mali, the Bibiani Gold Mine in Ghana, the Mako Gold Mine in Senegal and the Ravenswood Gold Mine in Queensland, Australia.