Griffin Mining (LON:GFM) Sets New 12-Month High - Time to Buy?

Key Points

• Griffin Mining Limited's share price reached a new 52-week high, trading as high as GBX 213 ($2.86), and closed at GBX 209 ($2.80) on Thursday.
• Analysts have increased price targets for Griffin Mining, with Canaccord Genuity setting a new target of GBX 240, maintaining a "buy" rating.
• The company has a market cap of £369.24 million and is primarily invested in the Caijiaying Mine in China, holding an 88.8% interest in Hebei Hua Ao Mining Industry Company.

Griffin Mining Limited (LON:GFM - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 213 ($2.86) and last traded at GBX 209 ($2.80), with a volume of 304183 shares changing hands. The stock had previously closed at GBX 196.75 ($2.64).

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GFM shares. Canaccord Genuity Group upped their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Berenberg Bank restated a "buy" rating and set a GBX 200 price objective on shares of Griffin Mining in a research note on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of GBX 220.

Griffin Mining Stock Performance

The firm has a market cap of £369.24 million, a PE ratio of 4,265.31 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of GBX 187.15 and a two-hundred day moving average price of GBX 181.56.

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”).

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