Griffin Mining (LON:GFM) Reaches New 52-Week High – Still a Buy?

Griffin Mining Limited (LON:GFM)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 180.17 ($2.24) and last traded at GBX 175 ($2.17), with a volume of 310111 shares. The stock had previously closed at GBX 165 ($2.05).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 190 ($2.36) target price on shares of Griffin Mining in a research note on Thursday, January 2nd.

Griffin Mining Stock Performance

The stock has a market capitalization of £331.79 million, a price-to-earnings ratio of 2,011.11 and a beta of 0.76. The stock’s 50-day simple moving average is GBX 147.90 and its 200 day simple moving average is GBX 145.25. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.25.

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”).