Gem Diamonds’ (GEMD) Buy Rating Reaffirmed at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Gem Diamonds (LON:GEMDGet Rating) in a research note published on Thursday morning, MarketBeat reports. The brokerage currently has a GBX 60 ($0.72) price target on the stock.

Separately, Barclays dropped their price objective on shares of Gem Diamonds from GBX 80 ($0.97) to GBX 60 ($0.72) and set an overweight rating on the stock in a research report on Friday, July 8th.

Gem Diamonds Price Performance

Shares of GEMD opened at GBX 34.70 ($0.42) on Thursday. The firm has a market capitalization of £48.37 million and a PE ratio of 309.55. The company’s 50-day moving average is GBX 42.60 and its 200-day moving average is GBX 52.20. Gem Diamonds has a fifty-two week low of GBX 33 ($0.40) and a fifty-two week high of GBX 76.40 ($0.92). The company has a debt-to-equity ratio of 6.43, a current ratio of 2.32 and a quick ratio of 1.18.

Insider Transactions at Gem Diamonds

In related news, insider Clifford Thomas Elphick sold 41,343 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of GBX 43 ($0.52), for a total value of £17,777.49 ($21,480.78).

Gem Diamonds Company Profile

(Get Rating)

Gem Diamonds Limited operates diamond mines. The company's flagship project is the Leteng mine located in the located in the Maluti Mountains of Lesotho. It is also involved in the production, manufacture, wholesale, retail, and marketing rough and polished diamonds. In addition, the company provides technical, financial, administrative, and management consulting services.

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