Griffin Mining (LON:GFM) Shares Cross Below 200-Day Moving Average – Should You Sell?

Griffin Mining Limited (LON:GFM) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 298.21 and traded as low as GBX 261.40. Griffin Mining shares last traded at GBX 264, with a volume of 29,311 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank lowered their target price on Griffin Mining from GBX 360 to GBX 340 and set a “buy” rating for the company in a report on Thursday, September 10th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Griffin Mining presently has a consensus rating of “Buy” and an average price target of GBX 290.

Griffin Mining Trading Up 4.9%

The company has a quick ratio of 0.98, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. The company has a market cap of £489.16 million, a P/E ratio of 22.89 and a beta of 0.50. The firm’s 50 day moving average is GBX 288.09 and its two-hundred day moving average is GBX 298.06.

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”).