Resolute Mining (LON:RSG) Trading 10.1% Higher – Time to Buy?

Shares of Resolute Mining Limited (LON:RSG) shot up 10.1% during trading on Friday . The stock traded as high as GBX 76 and last traded at GBX 76. 314,652 shares were traded during mid-day trading, an increase of 116% from the average daily volume of 145,762 shares. The stock had previously closed at GBX 69.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RSG shares. Royal Bank Of Canada restated an “outperform” rating and set a GBX 110 price objective on shares of Resolute Mining in a research report on Friday, August 7th. Berenberg Bank lifted their price objective on Resolute Mining from GBX 105 to GBX 106 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Resolute Mining currently has a consensus rating of “Buy” and an average price target of GBX 240.25.

Resolute Mining Price Performance

The company has a current ratio of 1.61, a quick ratio of 0.41 and a debt-to-equity ratio of 19.83. The firm’s 50-day moving average price is GBX 55.32 and its 200-day moving average price is GBX 64.88. The stock has a market capitalization of £1.62 billion, a PE ratio of 12.69 and a beta of 1.32.

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.