Griffin Mining (LON:GFM) Shares Down 0.9% – Time to Sell?

Shares of Griffin Mining Limited (LON:GFM) dropped 0.9% on Wednesday. The stock traded as low as GBX 308 and last traded at GBX 309.09. Approximately 40,450 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 78,704 shares. The stock had previously closed at GBX 312.

Analyst Ratings Changes

Separately, Berenberg Bank dropped their price objective on Griffin Mining from GBX 360 to GBX 340 and set a “buy” rating on the stock in a research report on Thursday, September 10th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 340.

Griffin Mining Trading Down 0.9%

The firm has a market cap of £535.62 million, a price-to-earnings ratio of 16.07 and a beta of 0.50. The company has a fifty day moving average price of GBX 301.03 and a 200-day moving average price of GBX 301.64. The company has a current ratio of 1.32, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

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”).