Griffin Mining (LON:GFM) Share Price Crosses Above 200-Day Moving Average - Here's Why

Griffin Mining Limited (LON:GFM - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 157.70 ($2.04) and traded as high as GBX 186 ($2.41). Griffin Mining shares last traded at GBX 178 ($2.30), with a volume of 33,025 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "buy" rating and set a GBX 190 ($2.46) price target on shares of Griffin Mining in a report on Thursday, January 2nd.

Griffin Mining Stock Down 3.5 %

The company has a market cap of £378.26 million, a PE ratio of 18.32 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. The company's fifty day moving average is GBX 174.26 and its 200-day moving average is GBX 158.05.

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”).