Griffin Mining (LON:GFM) Reaches New 1-Year High – Here’s Why

Griffin Mining Limited (LON:GFM) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 264 and last traded at GBX 264, with a volume of 117842 shares traded. The stock had previously closed at GBX 256.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Berenberg Bank reissued a “buy” rating and set a GBX 200 target price on shares of Griffin Mining in a research report on Tuesday, September 9th. Canaccord Genuity Group raised their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 220.

Griffin Mining Price Performance

The company has a current ratio of 1.76, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average price is GBX 210.08 and its 200 day moving average price is GBX 195.34. The company has a market cap of £466.20 million, a price-to-earnings ratio of 53.88 and a beta of 0.76.

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”).