Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Griffin Mining ( (GB:GFM) ) has provided an update.
Griffin Mining Limited has announced the launch of a new share buyback program via a reverse accelerated bookbuild (RABB Buyback) following limited activity in its existing buyback program. The company has engaged Panmure Liberum Ltd to execute the RABB Buyback, aiming to repurchase up to 10 million ordinary shares, which represents 5.4% of its total shares, with a budget of up to $20 million. This strategic move is intended to reduce the company’s share capital and enhance earnings per share, reflecting a positive outlook on 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 operates in the mining industry and is primarily focused on the extraction and production of zinc, gold, silver, and lead. The company has a market focus on mining operations and related activities, with its primary operations located in China.
Average Trading Volume: 86,614
Technical Sentiment Signal: Strong Buy
Current Market Cap: £344.5M
See more data about GFM stock on TipRanks’ Stock Analysis page.