Griffin Mining (LON:GFM) Share Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• Griffin Mining's share price has fallen below its200-day moving average of GBX 180.40, indicating potential concerns among investors.
• Berenberg Bank has upgraded Griffin Mining's target price from GBX 190 to GBX 200, maintaining a "buy" rating for the stock.
• The company's stock is trading down by 2.6%, with a current market capitalization of £411.53 million and a PE ratio of 19.93.

Griffin Mining Limited (LON:GFM - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 180.40 ($2.44) and traded as low as GBX 180 ($2.43). Griffin Mining shares last traded at GBX 186.50 ($2.52), with a volume of 8,227 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank upped their target price on shares of Griffin Mining from GBX 190 to GBX 200 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Griffin Mining presently has an average rating of "Buy" and an average target price of GBX 200.

Griffin Mining Stock Performance

The stock's 50 day moving average price is GBX 187.21 and its 200 day moving average price is GBX 180.36. The company has a current ratio of 1.76, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market capitalization of £340.15 million, a price-to-earnings ratio of 3,037.17 and a beta of 0.76.

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”).