Griffin Mining (LON:GFM) Reaches New 1-Year High – What’s Next?

Shares of Griffin Mining Limited (LON:GFM) hit a new 52-week high on Monday . The company traded as high as GBX 294 and last traded at GBX 284, with a volume of 89968 shares. The stock had previously closed at GBX 282.15.

Analyst Ratings Changes

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

Griffin Mining Stock Performance

The company has a market capitalization of £501.52 million, a PE ratio of 57.96 and a beta of 0.76. The firm has a 50-day moving average of GBX 241.30 and a two-hundred day moving average of GBX 207.05. 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”).