Canaccord Genuity Group Issues Positive Forecast for Griffin Mining (LON:GFM) Stock Price

Key Points

• Canaccord Genuity Group has increased its price target for Griffin Mining (LON:GFM) from GBX 220 to GBX 240, indicating a potential upside of 30.35% based on the current stock price.
• Berenberg Bank has also rated Griffin Mining as a "buy" with a price objective of GBX 200, contributing to a consensus target price of GBX 220.
• Griffin Mining's stock recently traded at GBX 184.13, with a market capitalization of £325.30 million and trading volume of 17,895 shares on the last reported day.

Griffin Mining (LON:GFM - Get Free Report) had its price objective upped by investment analysts at Canaccord Genuity Group from GBX 220 to GBX 240 in a research note issued to investors on Tuesday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 30.35% from the stock's current price.

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 200 price objective on shares of Griffin Mining in a report on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Griffin Mining has an average rating of "Buy" and a consensus target price of GBX 220.

Griffin Mining Trading Up 1.0%

GFM stock traded up GBX 1.88 on Tuesday, reaching GBX 184.13. The company's stock had a trading volume of 17,895 shares, compared to its average volume of 134,872. The business has a fifty day simple moving average of GBX 186.92 and a two-hundred day simple moving average of GBX 180.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76. The firm has a market cap of £325.30 million, a PE ratio of 3,757.65 and a beta of 0.76. Griffin Mining has a 12-month low of GBX 137 and a 12-month high of GBX 206.95.

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”).

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