Resolute Mining (LON:RSG) Shares Up 9.5% – Here’s What Happened

Resolute Mining Limited (LON:RSG)’s stock price shot up 9.5% during mid-day trading on Tuesday . The company traded as high as GBX 21.80 ($0.28) and last traded at GBX 21.56 ($0.27). 480,247 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 402,058 shares. The stock had previously closed at GBX 19.70 ($0.25).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 39 ($0.49) price objective on shares of Resolute Mining in a research note on Friday, August 30th.

Resolute Mining Price Performance

The company has a market capitalization of £459.87 million, a PE ratio of 1,680.00 and a beta of 1.28. The company has a current ratio of 1.19, a quick ratio of 0.41 and a debt-to-equity ratio of 10.70. The company’s 50 day moving average price is GBX 36.22 and its 200-day moving average price is GBX 32.26.

Resolute Mining Company Profile

Resolute Mining Limited engages in mining, prospecting, and exploration for minerals in Africa, the United Kingdom, and Australia. It is involved in mining gold and silver. The company’s flagship project is the Syama Gold Mine located in Mali, West Africa. It also owns Mako Gold Mine in Senegal, West Africa.