Greatland Resources (LON:GGP) Shares Pass Above 50-Day Moving Average - Here's What Happened

Key Points

• Greatland Resources shares moved above their 50-day moving average on Friday, trading as high as GBX 792.08 before last changing hands at GBX 759.33.
• Broker sentiment remains mixed but generally constructive, with RBC and Citigroup both lifting price targets to GBX 816; the consensus rating is Moderate Buy with a target of GBX 755.67.
• The company has a £5.11 billion market cap and relatively low valuation metrics, including a P/E ratio of 4.28, alongside a debt-to-equity ratio of 2.28 and current ratio of 2.48.

Greatland Resources Ltd (LON:GGP - Get Free Report)'s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 674.11 and traded as high as GBX 792.08. Greatland Resources shares last traded at GBX 759.33, with a volume of 3,689,516 shares trading hands.

Analyst Upgrades and Downgrades

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

Greatland Resources Stock Down 4.4%

The business's 50-day moving average is GBX 674.11 and its two-hundred day moving average is GBX 566.46. The firm has a market capitalization of £5.11 billion, a price-to-earnings ratio of 4.28 and a beta of 1.55. The company has a debt-to-equity ratio of 2.28, a quick ratio of 2.36 and a current ratio of 2.48.

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