Griffin Mining (LON:GFM) Stock Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Griffin Mining's stock (LON:GFM) has fallen below its 200-day moving average, signaling potential concerns from investors as it traded as low as GBX 178.
• Analysts from Berenberg Bank and Canaccord Genuity Group have issued "buy" ratings, with price targets set at GBX 200 and GBX 240, respectively.
• The company holds an 88.8% interest in Hebei Hua Ao Mining Industry Company Limited and operates the Caijiaying Mine in China.

Shares of Griffin Mining Limited (LON:GFM - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 181.02 ($2.42) and traded as low as GBX 178 ($2.38). Griffin Mining shares last traded at GBX 184 ($2.46), with a volume of 31,207 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on GFM shares. Berenberg Bank reissued a "buy" rating and issued a GBX 200 price target on shares of Griffin Mining in a research note on Tuesday, September 9th. Canaccord Genuity Group boosted their price target on Griffin Mining from GBX 220 to GBX 240 and gave the company a "buy" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of GBX 220.

Griffin Mining Trading Up 1.4%

The company has a fifty day moving average of GBX 186.83 and a two-hundred day moving average of GBX 181.02. 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 stock has a market capitalization of £325.08 million, a price-to-earnings ratio of 3,755.10 and a beta of 0.76.

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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