Griffin Mining (LON:GFM) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Griffin Mining shares have surged above their 200-day moving average, indicating potential bullish sentiment, with recent trading prices reaching GBX 191 ($2.52) before settling at GBX 185 ($2.44).
• Berenberg Bank has set a new price target for Griffin Mining, raising it from GBX 190 ($2.51) to GBX 200 ($2.64) with a "buy" rating.
• The company's current market capitalization is approximately £426.69 million, and it has a PE ratio of 20.67.

Shares of Griffin Mining Limited (LON:GFM - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 175.82 ($2.34) and traded as high as GBX 191 ($2.54). Griffin Mining shares last traded at GBX 185 ($2.46), with a volume of 552,127 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank lifted their target price on shares of Griffin Mining from GBX 190 ($2.53) to GBX 200 ($2.66) and gave the company a "buy" rating in a research note on Thursday, July 3rd.

Griffin Mining Stock Down 0.8%

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 cap of £438.22 million, a price-to-earnings ratio of 21.22 and a beta of 0.76. The firm's fifty day simple moving average is GBX 181.21 and its 200 day simple moving average is GBX 176.94.

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”).