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

Shares of Griffin Mining Limited (LON:GFM) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 146.32 ($1.84) and traded as high as GBX 150 ($1.89). Griffin Mining shares last traded at GBX 148 ($1.86), with a volume of 36,443 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 190 ($2.39) price target on shares of Griffin Mining in a report on Friday, October 25th.

Griffin Mining Stock Performance

The company’s 50 day simple moving average is GBX 148.60 and its 200 day simple moving average is GBX 146.32. The stock has a market cap of £271.30 million, a price-to-earnings ratio of 1,644.44 and a beta of 0.76. 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”).