Griffin Mining (LON:GFM) Sets New 1-Year High – Should You Buy?

Griffin Mining Limited (LON:GFM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 257 and last traded at GBX 257, with a volume of 79638 shares changing hands. The stock had previously closed at GBX 236.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GFM shares. Berenberg Bank restated a “buy” rating and issued a GBX 200 price target on shares of Griffin Mining in a report on Tuesday, September 9th. Canaccord Genuity Group lifted their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Griffin Mining presently has a consensus rating of “Buy” and a consensus price target of GBX 220.

Griffin Mining Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.76 and a quick ratio of 0.98. The company has a fifty day moving average price of GBX 208.02 and a 200 day moving average price of GBX 193.59. The company has a market capitalization of £453.84 million, a P/E ratio of 52.45 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”).