Resolute Mining (LON:RSG) Stock Price Up 2.6% - Here's What Happened

Key Points

• Resolute Mining shares rose 2.6% during mid-day trading to around GBX 78–79.80 on Thursday, though volume was thin at ~33,782 shares—about 79% below the average.
• Analysts have revised forecasts (JPMorgan and Berenberg cut targets while Stifel maintained a buy), leaving a MarketBeat consensus rating of Moderate Buy and a consensus price target of GBX 448.33.
• Resolute is an African-focused gold miner entering a growth phase with the Doropo project in Côte d'Ivoire, and currently has a market cap of £1.67 billion and a P/E of 13.02.

Resolute Mining Limited (LON:RSG - Get Free Report) shares rose 2.6% during mid-day trading on Thursday . The stock traded as high as GBX 79.80 and last traded at GBX 78. Approximately 33,782 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 160,072 shares. The stock had previously closed at GBX 76.

Analysts Set New Price Targets

RSG has been the subject of several recent research reports. JPMorgan Chase & Co. decreased 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. Stifel Nicolaus restated a "buy" rating and set a GBX 110 target price on shares of Resolute Mining in a research note on Thursday, March 5th. Finally, Berenberg Bank decreased their target price on Resolute Mining to GBX 600 and set a "hold" rating for the company in a research note on Thursday, March 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 448.33.

Resolute Mining Stock Performance

The firm has a 50 day moving average of GBX 73.65 and a two-hundred day moving average of GBX 62.71. The stock has a market cap of £1.67 billion, a PE ratio of 13.02 and a beta of 1.53. The company has a debt-to-equity ratio of 29.62, a current ratio of 1.01 and a quick ratio of 0.41.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.