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

Shares of Griffin Mining Limited (LON:GFM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 263.15 and traded as high as GBX 321. Griffin Mining shares last traded at GBX 317, with a volume of 38,221 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 320 price objective on shares of Griffin Mining in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 280.

Griffin Mining Stock Performance

The firm has a market capitalization of £558.90 million, a PE ratio of 64.59 and a beta of 0.50. The company has a current ratio of 1.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The business’s 50 day simple moving average is GBX 296.36 and its two-hundred day simple moving average is GBX 263.15.

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”).