Griffin Mining (LON:GFM) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Griffin Mining Limited (LON:GFM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 303.82 and traded as low as GBX 294.68. Griffin Mining shares last traded at GBX 295, with a volume of 15,169 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 360 price objective on shares of Griffin Mining in a report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 300.

Griffin Mining Stock Up 0.3%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 1.32. The company’s fifty day moving average price is GBX 307.16 and its 200-day moving average price is GBX 303.87. The stock has a market cap of £513.88 million, a P/E ratio of 24.05 and a beta of 0.51.

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”).