Gemfields Group (LON:GEM) Shares Pass Above 50-Day Moving Average – What’s Next?

Shares of Gemfields Group Limited (LON:GEM) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 5.84 and traded as high as GBX 6. Gemfields Group shares last traded at GBX 5.50, with a volume of 154,841 shares traded.

Wall Street Analysts Forecast Growth

Separately, Panmure Gordon reiterated a “buy” rating and issued a GBX 13 price target on shares of Gemfields Group in a report on Friday, December 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gemfields Group has a consensus rating of “Buy” and an average target price of GBX 13.

Gemfields Group Trading Down 6.4%

The company has a debt-to-equity ratio of 16.51, a quick ratio of 2.46 and a current ratio of 2.11. The company’s fifty day simple moving average is GBX 5.84 and its 200-day simple moving average is GBX 5.85. The company has a market capitalization of £94.83 million, a P/E ratio of -0.59 and a beta of 0.11.

About Gemfields Group

Gemfields is a world-leading responsible miner and marketer of coloured gemstones. Gemfields is the operator and 75% owner of both the Kagem emerald mine in Zambia (believed to be the world’s single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world). In addition, Gemfields also holds controlling interests in various other gemstone mining and prospecting licences in Zambia, Mozambique, Ethiopia and Madagascar.