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

Key Points

• Griffin Mining's stock price has crossed above its 200-day moving average, reaching a high of GBX 200 ($2.69) during trading, with its last recorded price at GBX 190 ($2.55).
• Berenberg Bank has upgraded the stock's price target from GBX 190 to GBX 200, maintaining a "buy" rating for Griffin Mining.
• The company has a market capitalization of £343.56 million and a notably high price-to-earnings ratio of 3,067.62.

Griffin Mining Limited (LON:GFM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 180.57 ($2.43) and traded as high as GBX 200 ($2.69). Griffin Mining shares last traded at GBX 190 ($2.55), with a volume of 172,706 shares traded.

Analyst Ratings Changes

Separately, Berenberg Bank upped their price target 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of GBX 200.

Griffin Mining Price Performance

The company has a market capitalization of £343.56 million, a price-to-earnings ratio of 3,067.62 and a beta of 0.76. 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's 50 day simple moving average is GBX 188.20 and its 200-day simple moving average is GBX 180.57.

About Griffin Mining

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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