Griffin Mining (LON:GFM) Hits New 12-Month High – Time to Buy?

Griffin Mining Limited (LON:GFM)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as GBX 269 and last traded at GBX 269, with a volume of 100903 shares. The stock had previously closed at GBX 258.

Wall Street Analysts Forecast Growth

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

Griffin Mining Trading Up 4.3%

The firm’s 50-day simple moving average is GBX 215.88 and its 200-day simple moving average is GBX 198.01. The firm has a market capitalization of £475.03 million, a PE ratio of 54.90 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.25.

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”).