Gemfields Group (LON:GEM) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Gemfields Group Limited (LON:GEM) shares 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 trading hands.

Wall Street Analysts Forecast Growth

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

Gemfields Group Stock Performance

The company has a quick ratio of 2.46, a current ratio of 1.77 and a debt-to-equity ratio of 31.57. The company has a market capitalization of £77.68 million, a PE ratio of -0.48 and a beta of 0.11. The company has a 50-day moving average price of GBX 5.22 and a two-hundred day moving average price of 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.