Berenberg Bank analyst Richard Hatch reiterated a Buy rating on Resolute Mining Limited (RMGGF – Research Report) today and set a price target of p30.00. The company’s shares closed last Tuesday at $0.27.
Hatch covers the Basic Materials sector, focusing on stocks such as Anglo American, Resolute Mining Limited, and Centamin. According to TipRanks, Hatch has an average return of 0.9% and a 44.68% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Resolute Mining Limited with a $0.38 average price target, implying a 39.65% upside from current levels. In a report released on August 24, Macquarie also maintained a Buy rating on the stock with a A$0.55 price target.
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RMGGF market cap is currently $501.8M and has a P/E ratio of 8.87.
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Resolute Mining Ltd. operates as a holding company, which engages in exploration, development, and operation of gold mines across Australia and Africa. It currently operates Syama, Bibiani and Ravenswood gold mines in Africa and Australia. The company was founded on June 8, 2001 and is headquartered in Perth, Australia.
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