Griffin Mining (LON:GFM) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Griffin Mining Limited (LON:GFM)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 271.39 and traded as high as GBX 310. Griffin Mining shares last traded at GBX 306.39, with a volume of 32,244 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank raised their price target on Griffin Mining from GBX 300 to GBX 340 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 290.

Griffin Mining Price Performance

The firm has a 50 day simple moving average of GBX 293.56 and a 200-day simple moving average of GBX 272.37. The company has a quick ratio of 0.98, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. The company has a market cap of £535.07 million, a PE ratio of 61.84 and a beta of 0.54.

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”).