Griffin Mining (LON:GFM) Share Price Passes Below 200 Day Moving Average – What’s Next?

Griffin Mining Limited (LON:GFM) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 146.02 ($1.84) and traded as low as GBX 146 ($1.84). Griffin Mining shares last traded at GBX 147 ($1.85), with a volume of 27,344 shares trading hands.

Analyst Upgrades and Downgrades

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

Griffin Mining Price Performance

The business’s 50-day simple moving average is GBX 146.59 and its 200 day simple moving average is GBX 146. The firm has a market capitalization of £269.47 million, a P/E ratio of 1,633.33 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.

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”).