Griffin Mining (LON:GFM) Shares Cross Below 200 Day Moving Average – Here’s Why

Griffin Mining Limited (LON:GFM)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 299.89 and traded as low as GBX 295. Griffin Mining shares last traded at GBX 297, with a volume of 32,024 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 360 price target on shares of Griffin Mining in a report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 300.

Griffin Mining Stock Performance

The company has a 50 day moving average of GBX 312.06 and a two-hundred day moving average of GBX 300.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 1.32. The stock has a market capitalization of £529.78 million, a PE ratio of 24.79 and a beta of 0.51.

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”).