Griffin Mining (LON:GFM) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Griffin Mining Limited (LON:GFM)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 313.77 and traded as high as GBX 315. Griffin Mining shares last traded at GBX 295, with a volume of 14,969 shares.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 360 price objective on shares of Griffin Mining in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of GBX 300.

Griffin Mining Stock Down 0.7%

The stock has a market cap of £526.24 million, a P/E ratio of 24.63 and a beta of 0.51. The company has a current ratio of 1.32, a quick ratio of 0.98 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is GBX 313.28 and its 200 day moving average is GBX 298.39.

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”).