Griffin Mining (LON:GFM) Sets New 1-Year High – Time to Buy?

Shares of Griffin Mining Limited (LON:GFM) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 180.17 ($2.25) and last traded at GBX 175 ($2.19), with a volume of 310111 shares trading hands. The stock had previously closed at GBX 165 ($2.06).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 190 ($2.38) price objective on shares of Griffin Mining in a research report on Thursday, January 2nd.

Griffin Mining Stock Up 6.1 %

The stock has a market capitalization of £320.79 million, a PE ratio of 1,944.44 and a beta of 0.76. 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 company’s 50-day moving average is GBX 147.24 and its 200 day moving average is GBX 145.04.

Griffin Mining Company Profile

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”).