Greatland Resources (LON:GGP) Share Price Passes Below 50-Day Moving Average – Here’s Why

Greatland Resources Ltd (LON:GGP – Get Free Report) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 672.49 and traded as low as GBX 534. Greatland Resources shares last traded at GBX 540.50, with a volume of 1,716,744 shares changing hands.

Analysts Set New Price Targets

Separately, Citigroup increased their price objective on Greatland Resources from GBX 780 to GBX 816 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of GBX 755.67.

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Greatland Resources Trading Down 4.5%

The company has a market capitalization of £3.47 billion, a P/E ratio of 2.91 and a beta of 1.54. The stock’s 50 day moving average is GBX 667.62 and its 200-day moving average is GBX 659.37. The company has a debt-to-equity ratio of 2.28, a current ratio of 2.48 and a quick ratio of 2.36.

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