Greatland Resources (LON:GGP) Share Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• Technical breakout: GGP's share price climbed above its 50-day moving average (GBX 669.72), trading as high as GBX 732 and last at GBX 723.50 on volume of 2,639,431 shares.
• Analyst upgrades: Royal Bank of Canada and Citigroup raised targets to GBX 816, with a MarketBeat consensus of "Moderate Buy" and a consensus target of GBX 755.67 (two Buy ratings, one Hold).
• Valuation and risk: The company has a market cap of £4.74 billion, a P/E of 3.97 and a debt-to-equity ratio of 2.28, despite the stock being reported down about 2.6% in the latest update.

Greatland Resources Ltd (LON:GGP - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 669.72 and traded as high as GBX 732. Greatland Resources shares last traded at GBX 723.50, with a volume of 2,639,431 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GGP. Royal Bank Of Canada raised their price target on Greatland Resources from GBX 675 to GBX 816 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Citigroup raised their price target on Greatland Resources from GBX 780 to GBX 816 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 755.67.

Greatland Resources Stock Down 2.6%

The firm has a market capitalization of £4.74 billion, a price-to-earnings ratio of 3.97 and a beta of 1.55. The company has a current ratio of 2.48, a quick ratio of 2.36 and a debt-to-equity ratio of 2.28. The firm has a 50 day moving average price of GBX 669.72 and a two-hundred day moving average price of GBX 557.17.

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