Griffin Mining (LON:GFM) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Griffin Mining Limited's stock has surpassed its 200-day moving average, trading at GBX 184.50 ($2.48) after reaching a high of GBX 191.50 ($2.58).
• Berenberg Bank increased its price target for Griffin Mining from GBX 190 ($2.56) to GBX 200 ($2.69), maintaining a "buy" rating.
• The company has a market capitalization of £425.54 million and a P/E ratio of 20.61, indicating a stable financial position despite a recent 2.9% drop in stock price.

Griffin Mining Limited (LON:GFM - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 177.66 ($2.40) and traded as high as GBX 191.50 ($2.59). Griffin Mining shares last traded at GBX 184.50 ($2.49), with a volume of 14,562 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lifted their price target on shares of Griffin Mining from GBX 190 ($2.57) to GBX 200 ($2.70) and gave the company a "buy" rating in a report on Thursday, July 3rd.

Griffin Mining Trading Down 0.5%

The stock has a 50 day moving average of GBX 183.11 and a 200-day moving average of GBX 178.39. The company has a market capitalization of £431.30 million, a P/E ratio of 20.89 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.

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”).