Greatland Resources (LON:GGP) Stock Jumps 5.4% – Still a Buy?

Shares of Greatland Resources Ltd (LON:GGP) were up 5.4% during mid-day trading on Monday. The company traded as high as GBX 572 and last traded at GBX 569. Approximately 1,974,153 shares changed hands during trading, a decline of 66% from the average daily volume of 5,813,241 shares. The stock had previously closed at GBX 540.

Wall Street Analyst Weigh In

Separately, Citigroup reduced their price objective on shares of Greatland Resources from GBX 816 to GBX 750 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Greatland Resources has a consensus rating of “Buy” and a consensus price target of GBX 783.

Greatland Resources Price Performance

The company’s 50 day simple moving average is GBX 546.65 and its 200-day simple moving average is GBX 631.89. The company has a market capitalization of £3.84 billion, a price-to-earnings ratio of 4.53 and a beta of 1.40. The company has a current ratio of 3.55, a quick ratio of 2.36 and a debt-to-equity ratio of 1.00.

Insider Transactions at Greatland Resources

In other Greatland Resources news, insider Alex Borrelli sold 526,880 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of GBX 700, for a total value of £3,688,160. Insiders own 35.93% of the company’s stock.

Greatland Resources Ltd is a materials company in the Gold industry.