Greatland Resources (LON:GGP) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Greatland Resources Ltd (LON:GGP)’s stock price passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of GBX 598.52 and traded as low as GBX 507.45. Greatland Resources shares last traded at GBX 520.50, with a volume of 1,508,034 shares.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their price objective on shares of Greatland Resources from GBX 816 to GBX 750 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 783.

Greatland Resources Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 3.55 and a quick ratio of 2.36. The company has a 50 day simple moving average of GBX 598.52 and a 200-day simple moving average of GBX 642.81. The stock has a market cap of £3.51 billion, a P/E ratio of 4.14 and a beta of 1.40.

Insider Buying and Selling at Greatland Resources

In other news, insider Alex Borrelli sold 526,880 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of GBX 700, for a total value of £3,688,160. Insiders own 35.93% of the company’s stock.

Greatland Resources Ltd is a materials company in the Gold industry.