Griffin Mining (LON:GFM) Share Price Passes Above 200-Day Moving Average – Here’s Why

Griffin Mining Limited (LON:GFM)’s share price 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 ($2.40). Griffin Mining shares last traded at GBX 183 ($2.38), with a volume of 63,906 shares changing hands.

Analysts Set New Price Targets

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

Griffin Mining Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of GBX 168.18 and a 200 day simple moving average of GBX 156.01. The company has a market capitalization of £422.08 million, a price-to-earnings ratio of 20.44 and a beta of 0.76.

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”).