Griffin Mining (LON:GFM) Reaches New 12-Month High – Here’s What Happened

Griffin Mining Limited (LON:GFM)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 257 and last traded at GBX 257, with a volume of 79638 shares changing hands. The stock had previously closed at GBX 236.

Analysts Set New Price Targets

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

Griffin Mining Trading Up 8.9%

The company has a 50 day moving average of GBX 205.85 and a 200-day moving average of GBX 192.69. The stock has a market cap of £453.84 million, a price-to-earnings ratio of 52.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76.

Griffin Mining Company Profile

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”).