Resolute Mining (LON:RSG) Shares Up 9.6% - Should You Buy?

Key Points

• Resolute Mining's shares rose by 9.6% during trading, reaching as high as GBX 39 ($0.53) with a significant increase in trading volume, up 868% from the average.
• Analysts have set a target price of GBX 46 for Resolute Mining, reaffirming a "buy" rating, contributing to a consensus rating of "Buy" for the stock.
• Resolute Mining, an African gold miner, has a target gold production of 275,000 - 300,000 ounces in 2025, with a total production exceeding nine million ounces to date.

Resolute Mining Limited (LON:RSG - Get Free Report)'s stock price shot up 9.6% on Tuesday . The company traded as high as GBX 39 ($0.53) and last traded at GBX 38.63 ($0.52). 2,288,156 shares were traded during trading, an increase of 868% from the average session volume of 236,303 shares. The stock had previously closed at GBX 35.25 ($0.48).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 46 price objective on shares of Resolute Mining in a research report on Thursday, August 28th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of GBX 46.

Resolute Mining Stock Up 2.4%

The business's fifty day moving average is GBX 33.02 and its two-hundred day moving average is GBX 27.79. The stock has a market cap of £907.25 million, a price-to-earnings ratio of 7,344.83 and a beta of 1.28. The company has a quick ratio of 0.41, a current ratio of 1.19 and a debt-to-equity ratio of 9.86.

Resolute Mining Company Profile

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.