Greatland Gold (LON:GGP) Shares Down 22.5%

Shares of Greatland Gold plc (LON:GGP) dropped 22.5% during mid-day trading on Wednesday . The company traded as low as GBX 5.20 ($0.07) and last traded at GBX 5.33 ($0.07). Approximately 143,528,813 shares traded hands during trading, an increase of 1,098% from the average daily volume of 11,983,083 shares. The stock had previously closed at GBX 6.87 ($0.09).

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GGP. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 20 ($0.26) price objective on shares of Greatland Gold in a research report on Thursday, May 23rd. Berenberg Bank reissued a “buy” rating and issued a GBX 12 ($0.16) target price on shares of Greatland Gold in a research note on Monday, July 1st.

Greatland Gold Trading Up 6.2 %

The business’s 50-day simple moving average is GBX 7.19 and its 200-day simple moving average is GBX 6.86. The company has a debt-to-equity ratio of 82.97, a quick ratio of 2.36 and a current ratio of 4.40. The company has a market capitalization of £279.95 million, a price-to-earnings ratio of -938.00 and a beta of 0.73.

About Greatland Gold

Greatland Gold plc, together with its subsidiaries, engages in the exploration and development of precious and base metals in Australia. It explores for gold, copper, cobalt, and nickel deposits. The company's flagship project is the 30% owned Havieron deposit, covering an area of 38 square kilometers located in the Paterson province of Western Australia.