Greatland Gold (LON:GGP) Trading 7.5% Higher – Here’s Why

Greatland Gold plc (LON:GGP)’s stock price shot up 7.5% on Wednesday . The stock traded as high as GBX 16.20 ($0.22) and last traded at GBX 15.70 ($0.21). 84,810,727 shares changed hands during trading, an increase of 19% from the average session volume of 71,329,664 shares. The stock had previously closed at GBX 14.60 ($0.20).

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GGP. Berenberg Bank raised their price objective on shares of Greatland Gold from GBX 11 ($0.15) to GBX 12 ($0.16) and gave the company a “hold” rating in a research report on Monday, April 14th. Canaccord Genuity Group upgraded shares of Greatland Gold to a “buy” rating and raised their price objective for the company from GBX 20 ($0.27) to GBX 25 ($0.34) in a research report on Wednesday, April 16th.

Greatland Gold Stock Performance

The firm’s fifty day simple moving average is GBX 13.24 and its 200 day simple moving average is GBX 9.84. The company has a market capitalization of £2.28 billion, a price-to-earnings ratio of -38.58 and a beta of 0.73. The company has a debt-to-equity ratio of 102.07, a current ratio of 1.33 and a quick ratio of 2.36.

Greatland Gold Company Profile

Greatland Gold plc is a mining development and exploration company with a focus on precious and base metals.