Griffin Mining (LON:GFM) Stock Passes Below 200-Day Moving Average – What’s Next?

Griffin Mining Limited (LON:GFM)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 302.82 and traded as low as GBX 271. Griffin Mining shares last traded at GBX 286, with a volume of 19,943 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 360 price objective on shares of Griffin Mining in a research note on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Griffin Mining presently has a consensus rating of “Buy” and an average target price of GBX 300.

Griffin Mining Stock Up 1.4%

The company has a market capitalization of £512.12 million, a price-to-earnings ratio of 23.97 and a beta of 0.50. 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 business has a 50-day moving average price of GBX 297.42 and a 200-day moving average price of GBX 302.87.

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”).