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Griffin Mining ( (GB:GFM) ) has issued an update.
Griffin Mining Limited has announced the completion of a share buyback program through a reverse accelerated bookbuild, acquiring over 7.5 million ordinary shares at 194 pence each, totaling approximately £14.6 million. This buyback, which includes transactions with substantial shareholders, will result in the cancellation of these shares, reducing the company’s issued share capital and affecting the voting rights. The move is considered fair and reasonable by the company’s directors, excluding those involved in the buyback, and reflects a strategic effort to manage the company’s share capital and enhance shareholder value.
The most recent analyst rating on (GB:GFM) stock is a Hold with a £192.00 price target. To see the full list of analyst forecasts on Griffin Mining stock, see the GB:GFM Stock Forecast page.
Spark’s Take on GB:GFM Stock
According to Spark, TipRanks’ AI Analyst, GB:GFM is a Neutral.
The overall stock score of 60 reflects a combination of stable financial health and technical indicators that suggest caution. The strong balance sheet is a positive, but declining revenue, profitability margins, and negative free cash flow are significant concerns. Additionally, the high P/E ratio indicates potential overvaluation, which could limit upside potential.
To see Spark’s full report on GB:GFM stock, click here.
More about Griffin Mining
Griffin Mining Limited is a company involved in the mining industry, primarily focused on the extraction and production of mineral resources. The company operates with a market focus on mining activities and related services.
Average Trading Volume: 102,638
Technical Sentiment Signal: Strong Buy
Current Market Cap: £346.3M
For an in-depth examination of GFM stock, go to TipRanks’ Overview page.