Griffin Mining (LON:GFM) Hits New 1-Year High - Here's Why

Griffin Mining Limited (LON:GFM - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as GBX 180.17 ($2.23) and last traded at GBX 175 ($2.16), with a volume of 310111 shares trading hands. The stock had previously closed at GBX 165 ($2.04).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 190 ($2.35) price target on shares of Griffin Mining in a report on Thursday, January 2nd.

Griffin Mining Trading Up 2.2 %

The stock has a fifty day moving average of GBX 149.48 and a 200 day moving average of GBX 145.78. The company has a market capitalization of £339.12 million, a P/E ratio of 2,055.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.76.

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”).