Resolute Mining (LON:RSG) Reaches New 52-Week High - Here's What Happened

Key Points

• Resolute Mining shares reached a new 52-week high of GBX 56.60 ($0.75) during trading, indicating strong market performance.
• Berenberg Bank upgraded Resolute Mining's price target from GBX 46 to GBX 65, maintaining a "buy" rating for the stock.
• The company, an African-focused gold miner, is entering a growth phase with the development of the Doropo project in Côte d'Ivoire, which will enhance production from existing mines.

Resolute Mining Limited (LON:RSG - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 56.60 ($0.75) and last traded at GBX 56.60 ($0.75), with a volume of 24896 shares changing hands. The stock had previously closed at GBX 55.50 ($0.74).

Analyst Upgrades and Downgrades

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

Resolute Mining Trading Up 1.8%

The stock has a market capitalization of £1.20 billion, a P/E ratio of 9,740.86 and a beta of 1.28. The company has a debt-to-equity ratio of 9.86, a current ratio of 1.19 and a quick ratio of 0.41. The business's 50 day simple moving average is GBX 40.67 and its 200-day simple moving average is GBX 32.01.

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.

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