Resolute Mining (LON:RSG) Hits New 12-Month High - Still a Buy?

Key Points

• Resolute Mining's shares reached a new 52-week high at GBX 47.80 ($0.65) during trading on Tuesday, up from the previous close of GBX 43.80 ($0.59).
• Berenberg Bank has restated a "buy" rating for Resolute Mining and set a target price of GBX 46, contributing to an average consensus rating of "Buy" for the stock.
• The company is entering a new growth phase with the development of the Doropo project in Côte d'Ivoire, which will complement existing production from its other sites in Mali and Senegal.

Resolute Mining Limited (LON:RSG - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 47.80 ($0.65) and last traded at GBX 46.86 ($0.63), with a volume of 2173418 shares changing hands. The stock had previously closed at GBX 43.80 ($0.59).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 46 target price on shares of Resolute Mining in a research report on Thursday, August 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of GBX 46.

Resolute Mining Trading Up 5.7%

The company has a quick ratio of 0.41, a current ratio of 1.19 and a debt-to-equity ratio of 9.86. The firm's 50-day simple moving average is GBX 34.26 and its 200 day simple moving average is GBX 28.74. The stock has a market capitalization of £986.05 million, a P/E ratio of 7,982.76 and a beta of 1.28.

About Resolute Mining

Resolute Mining ASX/LSE: RSG 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.

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