Resolute Mining (LON:RSG) Stock Price Down 6.3% - Here's Why

Key Points

• Shares fell 6.3% intraday to GBX 70.10 (low GBX 69) on Monday, with volume spiking ~693% to 1,340,374 shares versus the average of 169,107 and a prior close of GBX 74.80.
• The stock carries an average analyst rating of "Buy" from three analysts with a consensus target of GBX 278, though individual targets vary widely (e.g., GBX 89, GBX 110 and GBX 635).
• Resolute is an African-focused gold miner (market cap £1.42bn, P/E 11.07) entering a growth phase via the Doropo project in Côte d'Ivoire to supplement production from Syama (Mali) and Mako (Senegal).

Resolute Mining Limited (LON:RSG - Get Free Report) shares fell 6.3% during mid-day trading on Monday . The company traded as low as GBX 69 and last traded at GBX 70.10. 1,340,374 shares changed hands during mid-day trading, an increase of 693% from the average session volume of 169,107 shares. The stock had previously closed at GBX 74.80.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RSG. Stifel Nicolaus reissued a "buy" rating and issued a GBX 110 target price on shares of Resolute Mining in a report on Thursday, March 5th. Berenberg Bank reissued a "buy" rating and issued a GBX 89 target price on shares of Resolute Mining in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on Resolute Mining to GBX 635 and set an "overweight" rating for the company in a report on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of GBX 278.

Resolute Mining Stock Performance

The firm has a market capitalization of £1.42 billion, a P/E ratio of 11.07 and a beta of 1.53. The stock has a 50-day moving average of GBX 74.13 and a 200 day moving average of GBX 63.84. The company has a debt-to-equity ratio of 29.62, a quick ratio of 0.41 and a current ratio of 1.01.

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. The Company trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG.

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