Griffin Mining (LON:GFM) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Griffin Mining Limited (LON:GFM) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 184.02 and traded as high as GBX 189.50. Griffin Mining shares last traded at GBX 186, with a volume of 192,346 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 target price on shares of Griffin Mining in a research note on Tuesday, September 9th. Canaccord Genuity Group upped their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 220.

Griffin Mining Trading Up 2.2%

The firm’s 50-day moving average price is GBX 189.72 and its 200-day moving average price is GBX 184.02. 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 company has a market cap of £328.61 million, a P/E ratio of 37.96 and a beta of 0.76.

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”).