Greatland Resources (LON:GGP) Stock Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Greatland Resources shares fell below their 50-day moving average
• Analysts remain broadly positive: Royal Bank of Canada and Citigroup recently raised targets and issued "buy" ratings, and the consensus is a Moderate Buy with an average target of GBX 591.50 (three Buys, one Hold).
• On fundamentals, the stock sits above its 200‑day MA (GBX 492.54) with a market cap of £3.62 billion, a low P/E of 3.03, strong liquidity (quick ratio 2.36, current ratio 2.48) but a high debt-to-equity of 2.28.

Greatland Resources Ltd (LON:GGP - Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 648.51 and traded as low as GBX 525.60. Greatland Resources shares last traded at GBX 537.75, with a volume of 11,672,205 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GGP shares. Royal Bank Of Canada upped their price objective on shares of Greatland Resources from GBX 675 to GBX 816 and gave the stock a "buy" rating in a report on Thursday, January 29th. Citigroup raised their target price on shares of Greatland Resources from GBX 595 to GBX 675 and gave the company a "buy" rating in a research note on Thursday, January 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 591.50.

Greatland Resources Price Performance

The business has a 50-day simple moving average of GBX 648.51 and a two-hundred day simple moving average of GBX 492.54. The company has a quick ratio of 2.36, a current ratio of 2.48 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of £3.62 billion, a price-to-earnings ratio of 3.03 and a beta of 1.27.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.