Gemfields Group (LON:GEM) Reaches New 52-Week Low – Here’s What Happened

Gemfields Group Limited (LON:GEM)’s share price reached a new 52-week low on Monday . The company traded as low as GBX 2.50 and last traded at GBX 2.98, with a volume of 6489 shares changing hands. The stock had previously closed at GBX 2.61.

Gemfields Group Price Performance

The business’s fifty day simple moving average is GBX 3.60 and its 200-day simple moving average is GBX 4.48. The company has a current ratio of 1.77, a quick ratio of 2.46 and a debt-to-equity ratio of 31.57. The firm has a market cap of £51.38 million, a P/E ratio of -1.15 and a beta of 0.06.

Gemfields Group Company Profile

Gemfields is a world-leading 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.

Gemfields has developed a proprietary grading system and a pioneering auction platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields’ business model that has played an important role in the growth of the global coloured gemstone sector.