Resolute Mining (LON:RSG) Shares Down 1.6% - Here's What Happened

Key Points

• Shares fell 1.6% on Friday to GBX 69.83 (intraday low GBX 66.40) as volume surged ~183% to about 480,514 shares traded.
• The stock carries an average analyst rating of Buy with an average price target of GBX 278, though recent broker targets vary widely (Berenberg GBX 89, JPMorgan GBX 635, Stifel GBX 110).
• Resolute is an African-focused gold miner (market cap £1.51bn, P/E 11.82, debt-to-equity 29.62) entering a growth phase via the Doropo project to supplement output from the Syama and Mako mines.

Resolute Mining Limited (LON:RSG - Get Free Report) dropped 1.6% during trading on Friday . The stock traded as low as GBX 66.40 and last traded at GBX 69.83. Approximately 480,514 shares traded hands during trading, an increase of 183% from the average daily volume of 169,671 shares. The stock had previously closed at GBX 71.

Analysts Set New Price Targets

RSG has been the subject of several recent analyst reports. Berenberg Bank reaffirmed a "buy" rating and set a GBX 89 target price on shares of Resolute Mining in a research note on Thursday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Resolute Mining to GBX 635 and set an "overweight" rating for the company in a research note on Thursday, March 26th. Finally, Stifel Nicolaus reissued a "buy" rating and issued a GBX 110 price objective on shares of Resolute Mining in a research note on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of GBX 278.

Resolute Mining Stock Down 0.3%

The company has a quick ratio of 0.41, a current ratio of 1.01 and a debt-to-equity ratio of 29.62. The stock has a 50 day simple moving average of GBX 72.78 and a 200 day simple moving average of GBX 64.31. The stock has a market cap of £1.51 billion, a price-to-earnings ratio of 11.82 and a beta of 1.36.

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.

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