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Gem Diamonds Ltd (LON:GEMD)‘s stock had its “buy” rating reaffirmed by Goldman Sachs Group Inc. in a research note issued on Tuesday, American Banking News.com reports. They currently have a GBX 180 ($2.97) price target on the stock. Goldman Sachs Group Inc.’s target price points to a potential upside of 12.15% from the stock’s previous close.

Shares of Gem Diamonds Ltd (LON:GEMD) traded up 0.16% on Tuesday, hitting GBX 160.50. 128,909 shares of the company’s stock traded hands. Gem Diamonds Ltd has a 1-year low of GBX 106.00 and a 1-year high of GBX 177.50. The stock has a 50-day moving average of GBX 146.2 and a 200-day moving average of GBX 149.. The company’s market cap is £222.0 million.

GEMD has been the subject of a number of other recent research reports. Analysts at Westhouse Securities upgraded shares of Gem Diamonds Ltd to a “buy” rating in a research note to investors on Wednesday, January 8th. They now have a GBX 180 ($2.97) price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Gem Diamonds Ltd from GBX 185 ($3.05) to GBX 190 ($3.13) in a research note to investors on Friday, December 13th. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Gem Diamonds Ltd in a research note to investors on Tuesday, December 10th. They now have a GBX 180 ($2.97) price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of GBX 172.64 ($2.85).

Gem Diamonds Limited is a global diamond mining company. The Company owns two production mines, the Letseng mine in Lesotho and the Ellendale mine in Australia, as well as the Ghaghoo mine, which is in development in Botswana.

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