Resolute Mining Limited (ASX:RSG) Stock Catapults 30% Though Its Price And Business Still Lag The Industry
Despite an already strong run, Resolute Mining Limited (ASX:RSG) shares have been powering on, with a gain of 30% in the last thirty days. The last 30 days bring the annual gain to a very sharp 30%.
Even after such a large jump in price, Resolute Mining may still be sending very bullish signals at the moment with its price-to-sales (or “P/S”) ratio of 1.5x, since almost half of all companies in the Metals and Mining industry in Australia have P/S ratios greater than 77.9x and even P/S higher than 619x are not unusual. However, the P/S might be quite low for a reason and it requires further investigation to determine if it’s justified.
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