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

Shares of Griffin Mining Limited (LON:GFM) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 145.34 ($1.77) and traded as high as GBX 149 ($1.81). Griffin Mining shares last traded at GBX 147 ($1.79), with a volume of 92,604 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 190 ($2.31) target price on shares of Griffin Mining in a report on Thursday, January 2nd.

Griffin Mining Stock Performance

The firm has a fifty day simple moving average of GBX 146.31 and a 200-day simple moving average of GBX 145.34. 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 £269.47 million, a PE ratio of 1,633.33 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”).