Griffin Mining (LON:GFM) Sets New 52-Week High – What’s Next?

Shares of Griffin Mining Limited (LON:GFM) hit a new 52-week high during trading on Monday . The company traded as high as GBX 290 and last traded at GBX 285, with a volume of 56389 shares trading hands. The stock had previously closed at GBX 278.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on shares of Griffin Mining from GBX 220 to GBX 240 and gave the company a “buy” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Griffin Mining currently 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’s 50-day moving average price is GBX 231.62 and its 200-day moving average price is GBX 203.85. The company has a market cap of £503.28 million, a P/E ratio of 58.16 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”).