Resolute Mining (LON:RSG) Hits New 52-Week High - Time to Buy?

Key Points

• Resolute Mining Limited shares reached a new 52-week high of GBX 58.80 ($0.79), indicating strong market performance with a notable trading volume of 82,598 shares.
• Berenberg Bank upgraded Resolute's price target from GBX 46 to GBX 65 and assigned the stock a "buy" rating, contributing to a consensus "buy" rating with an average target price of GBX 65.
• Resolute Mining, an experienced African gold miner, is entering a growth phase with the development of the Doropo project in Côte d'Ivoire, enhancing its existing operations in Mali and Senegal.

Shares of Resolute Mining Limited (LON:RSG - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 58.80 ($0.79) and last traded at GBX 58.20 ($0.78), with a volume of 82598 shares. The stock had previously closed at GBX 57 ($0.76).

Analysts Set New Price Targets

Separately, Berenberg Bank raised their price objective on Resolute Mining from GBX 46 to GBX 65 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of GBX 65.

Resolute Mining Stock Performance

The company has a current ratio of 1.19, a quick ratio of 0.41 and a debt-to-equity ratio of 9.86. The company has a market cap of £1.21 billion, a PE ratio of 97.93 and a beta of 1.28. The firm's 50-day simple moving average is GBX 42.68 and its two-hundred day simple moving average is GBX 33.09.

About Resolute Mining

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.

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