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

Shares of Griffin Mining Limited (LON:GFM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 158.67 ($2.06) and traded as high as GBX 182 ($2.36). Griffin Mining shares last traded at GBX 180 ($2.34), with a volume of 62,472 shares.

Wall Street Analyst Weigh In

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

Griffin Mining Trading Up 1.1 %

The business has a 50 day moving average of GBX 176.08 and a 200-day moving average of GBX 158.67. The stock has a market cap of £415.16 million, a PE ratio of 20.11 and a beta of 0.76. The company has a current ratio of 1.76, a quick ratio of 0.98 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”).