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Griffin Mining ( (GB:GFM) ) has issued an update.
Griffin Mining Limited has announced the results of its share buyback program, acquiring 7,531,308 ordinary shares at a total cost of £14,610,737.52 through a reverse accelerated bookbuild. This move reduces the company’s issued ordinary share capital to 176,672,173 shares, impacting the voting rights and shareholding percentages of directors and substantial shareholders. The buyback includes related party transactions with substantial shareholders Richard Griffiths and Overbrook Management, deemed fair and reasonable by the company’s directors.
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 operates in the mining industry, focusing on the extraction and production of mineral resources. The company is known for its involvement in mining operations and related activities, targeting markets that require mineral commodities.
Average Trading Volume: 106,338
Technical Sentiment Signal: Buy
Current Market Cap: £357.4M
For a thorough assessment of GFM stock, go to TipRanks’ Stock Analysis page.