Griffin Mining (LON:GFM) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Griffin Mining's share price fell below its 200-day moving average during trading, with the stock last being priced at GBX 183 ($2.46).
• Berenberg Bank has reaffirmed a "buy" rating for the stock, setting a price target of GBX 200.
• The company's current market capitalization stands at £339.85 million, with a PE ratio of 3,034.54.

Griffin Mining Limited (LON:GFM - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 181.03 ($2.43) and traded as low as GBX 177 ($2.38). Griffin Mining shares last traded at GBX 183 ($2.46), with a volume of 22,610 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 200 price target on shares of Griffin Mining in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Griffin Mining has a consensus rating of "Buy" and a consensus price target of GBX 200.

Griffin Mining Stock Performance

The firm has a fifty day moving average price of GBX 187.24 and a two-hundred day moving average price of GBX 181.03. The stock has a market capitalization of £339.85 million, a PE ratio of 3,034.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.76 and a quick ratio of 0.98.

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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