Griffin Mining (LON:GFM) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Griffin Mining Limited (LON:GFM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 157.70 ($2.04) and traded as high as GBX 186 ($2.41). Griffin Mining shares last traded at GBX 178 ($2.30), with a volume of 33,025 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 190 ($2.46) price target on shares of Griffin Mining in a research note on Thursday, January 2nd.

Griffin Mining Stock Performance

The stock’s 50 day moving average price is GBX 173.92 and its two-hundred day moving average price is GBX 157.94. The company has a current ratio of 1.76, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of £389.79 million, a price-to-earnings ratio of 18.88 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”).