Griffin Mining (LON:GFM) Hits New 1-Year High – Time to Buy?

Griffin Mining Limited (LON:GFM) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 241 and last traded at GBX 238, with a volume of 33024 shares. The stock had previously closed at GBX 234.

Wall Street Analysts Forecast Growth

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

Griffin Mining Stock Performance

The firm has a market capitalization of £411.45 million, a PE ratio of 47.55 and a beta of 0.76. The company’s 50-day moving average price is GBX 201.16 and its 200-day moving average price is GBX 190.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76.

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”).