Griffin Mining (LON:GFM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Griffin Mining Limited (LON:GFM) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 156.01 ($2.03) and traded as high as GBX 185 ($2.41). Griffin Mining shares last traded at GBX 183 ($2.38), with a volume of 63,906 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 190 ($2.47) price objective on shares of Griffin Mining in a research note on Thursday, January 2nd.

Griffin Mining Stock Performance

The stock has a market capitalization of £424.38 million, a PE ratio of 20.55 and a beta of 0.76. The company’s 50 day moving average price is GBX 168.70 and its two-hundred day moving average price is GBX 156.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.76 and a quick ratio of 0.98.

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”).