Griffin Mining (LON:GFM) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Griffin Mining Limited (LON:GFM)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 184.02 and traded as high as GBX 189.50. Griffin Mining shares last traded at GBX 186, with a volume of 192,346 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GFM shares. Canaccord Genuity Group lifted their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Berenberg Bank restated a “buy” rating and set a GBX 200 price objective on shares of Griffin Mining in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Griffin Mining presently has a consensus rating of “Buy” and an average target price of GBX 220.

Griffin Mining Trading Up 1.1%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76. The firm has a market cap of £332.14 million, a PE ratio of 38.37 and a beta of 0.76. The stock has a 50-day simple moving average of GBX 189.79 and a two-hundred day simple moving average of GBX 184.18.

About Griffin Mining

Griffin Mining Limited (“Griffin” or “the Company”) is a mining and investment company, incorporated in Bermuda in 1988 whose shares were admitted to trading on the Alternative Investment Market of the London Stock Exchange (“AIM”) in 1997.
The major asset of the Company is an 88.8% interest in Hebei Hua Ao Mining Industry Company Limited (“Hebei Hua Ao”) through its wholly-owned Hong Kong subsidiary, China Zinc Limited (“China Zinc”), which holds licences, the operating mine and processing facilities (the “Caijiaying Mine”) near Zhangjiakou City in the People’s Republic of China (“PRC” or “China”).