Gemfields PLC Downgraded to “Hold” at Investec (GEM)
Gemfields PLC (LON:GEM) was downgraded by equities research analysts at Investec to a “hold” rating in a research note issued to investors on Wednesday, AnalystRatingsNetwork.com reports. They currently have a GBX 36 ($0.60) price objective on the stock, down from their previous price objective of GBX 37.50 ($0.62). Investec’s target price points to a potential upside of 1.41% from the company’s current price.
Gemfields PLC (LON:GEM) traded up 2.11% on Wednesday, hitting GBX 36.25. The stock had a trading volume of 150,805 shares. Gemfields PLC has a one year low of GBX 19.00 and a one year high of GBX 38.50. The stock has a 50-day moving average of GBX 35.14 and a 200-day moving average of GBX 31.19.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Gemfields PLC in a research note on Wednesday. They now have a GBX 40 ($0.67) price target on the stock.
Gemfields PLC is engaged in the business of exploring, mining, processing and selling colored gemstones.
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