Gem Diamonds (LON:GEMD) Stock Crosses Below 50 Day Moving Average of $81.05

Gem Diamonds Limited (LON:GEMD)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $81.05 and traded as low as $77.00. Gem Diamonds shares last traded at $77.30, with a volume of 18,209 shares changing hands.

GEMD has been the topic of several recent research reports. Liberum Capital restated a “buy” rating and set a GBX 810 ($10.58) price target on shares of in a report on Wednesday, July 3rd. JPMorgan Chase & Co. increased their target price on from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the stock a “neutral” rating in a research note on Friday, July 5th. Barclays reiterated an “underweight” rating on shares of in a research note on Thursday, July 4th. Canaccord Genuity reiterated a “hold” rating and issued a GBX 150 ($1.96) target price on shares of Stagecoach Group in a research note on Wednesday, April 3rd. Finally, Shore Capital reiterated a “not rated” rating on shares of SolGold in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Gem Diamonds has an average rating of “Hold” and a consensus price target of GBX 114.17 ($1.49).

The stock has a market cap of $107.02 million and a PE ratio of 4.21. The company has a debt-to-equity ratio of 14.97, a quick ratio of 1.06 and a current ratio of 1.74. The company’s 50 day simple moving average is GBX 80.45.

Gem Diamonds Company Profile (LON:GEMD)

Gem Diamonds Limited explores for and develops diamond mines. The company's flagship project is the Letšeng mine located in the Kingdom of Lesotho. It also manufactures, sells, and markets rough and polished diamonds. In addition, the company provides technical, financial, and management consultancy services.

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