Griffin Mining (LON:GFM) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Griffin Mining Limited (LON:GFM)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 296.67 and traded as low as GBX 278. Griffin Mining shares last traded at GBX 293.84, with a volume of 78,844 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on Griffin Mining from GBX 360 to GBX 340 and set a “buy” rating for the company in a report on Thursday, September 10th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 290.

Griffin Mining Stock Up 1.3%

The firm’s 50 day moving average price is GBX 286.22 and its two-hundred day moving average price is GBX 296.67. The firm has a market capitalization of £518.90 million, a PE ratio of 24.28 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 0.13.

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”).