Gemfields Group (LON:GEM) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Gemfields Group Limited (LON:GEM) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 5.77 and traded as low as GBX 5.75. Gemfields Group shares last traded at GBX 5.75, with a volume of 70,014 shares.

Analyst Upgrades and Downgrades

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

Gemfields Group Price Performance

The stock has a market capitalization of £99.14 million, a P/E ratio of -0.62 and a beta of 0.11. 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 firm has a 50-day moving average price of GBX 5.85 and a 200 day moving average price of GBX 5.78.

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.