In a report released today, Andrew Bowler from Macquarie maintained a Buy rating on Resolute Mining Limited (RMGGF – Research Report), with a price target of A$0.59. The company’s shares closed yesterday at $0.25.
Bowler covers the Basic Materials sector, focusing on stocks such as Westgold Resources Ltd, Regis Resources Limited, and Ramelius Resources Limited. According to TipRanks, Bowler has an average return of -0.5% and a 40.40% success rate on recommended stocks.
Currently, the analyst consensus on Resolute Mining Limited is a Moderate Buy with an average price target of $0.39, a 53.97% upside from current levels. In a report released on September 4, Berenberg Bank also reiterated a Buy rating on the stock with a p30.00 price target.
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RMGGF market cap is currently $454.8M and has a P/E ratio of 7.73.
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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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