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

Key Points

• Resolute Mining's shares reached a new 52-week high of GBX 47.90 ($0.64) during trading, indicating strong performance amid increased investment interest.
• Analysts from Berenberg Bank have reissued a "buy" rating for the stock, setting a price objective of GBX 46, reflecting positive sentiment in the market.
• Resolute Mining is currently in a growth phase with plans to develop the Doropo project in Côte d'Ivoire, building on its existing operations in Mali and Senegal.

Shares of Resolute Mining Limited (LON:RSG - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as GBX 47.90 ($0.64) and last traded at GBX 47.60 ($0.64), with a volume of 34389 shares traded. The stock had previously closed at GBX 46.80 ($0.63).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a "buy" rating and issued a GBX 46 price objective on shares of Resolute Mining in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Resolute Mining has a consensus rating of "Buy" and a consensus price target of GBX 46.

Resolute Mining Price Performance

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 company's 50-day simple moving average is GBX 35.41 and its 200-day simple moving average is GBX 29.48. The stock has a market capitalization of £1.03 billion, a P/E ratio of 8,327.59 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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