Griffin Mining (LON:GFM) Reaches New 52-Week High – Here’s What Happened

Shares of Griffin Mining Limited (LON:GFM) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 290 and last traded at GBX 285, with a volume of 56389 shares changing hands. The stock had previously closed at GBX 278.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Griffin Mining has an average rating of “Buy” and a consensus target price of GBX 220.

Griffin Mining Trading Up 1.3%

The business’s 50-day simple moving average is GBX 235.53 and its two-hundred day simple moving average is GBX 205.12. The firm has a market capitalization of £506.24 million, a price-to-earnings ratio of 58.51 and a beta of 0.76. The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.25.

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”).