Griffin Mining (LON:GFM) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Griffin Mining Limited (LON:GFM)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 148.66 ($1.88) and traded as high as GBX 181.15 ($2.29). Griffin Mining shares last traded at GBX 181 ($2.29), with a volume of 523,323 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 190 ($2.40) price objective on shares of Griffin Mining in a research note on Thursday, January 2nd.

Griffin Mining Stock Up 0.6 %

The company has a market cap of £417.47 million, a PE ratio of 20.22 and a beta of 0.76. The stock’s 50 day moving average price is GBX 155.75 and its 200-day moving average price is GBX 148.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76.

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”).