Griffin Mining (LON:GFM) Hits New 1-Year High – Time to Buy?

Shares of Griffin Mining Limited (LON:GFM) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 241 and last traded at GBX 238, with a volume of 33024 shares trading hands. The stock had previously closed at GBX 234.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Griffin Mining from GBX 220 to GBX 240 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 target price on shares of Griffin Mining in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 220.

Griffin Mining Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76. The business has a 50 day moving average price of GBX 199.07 and a 200-day moving average price of GBX 189.35. The company has a market capitalization of £420.28 million, a price-to-earnings ratio of 48.57 and a beta of 0.76.

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”).