Gemfields Group (LON:GEM) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Gemfields Group Limited (LON:GEM)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 5.63 and traded as low as GBX 4.51. Gemfields Group shares last traded at GBX 4.51, with a volume of 300 shares.

Analysts Set New Price Targets

Separately, Panmure Gordon reaffirmed a “buy” rating and issued a GBX 13 price objective on shares of Gemfields Group in a research note on Friday, December 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 13.

Gemfields Group Trading Down 5.2%

The company has a debt-to-equity ratio of 30.49, a current ratio of 2.50 and a quick ratio of 2.46. The company has a market cap of £77.68 million, a price-to-earnings ratio of -0.48 and a beta of 0.11. The business’s fifty day moving average price is GBX 5.22 and its 200 day moving average price is GBX 5.63.

Gemfields Group Company Profile

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.