Gemfields Group (LON:GEM) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Shares of Gemfields Group Limited (LON:GEM) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

Separately, Panmure Gordon reissued a “buy” rating and issued a GBX 13 price objective on shares of Gemfields Group in a research note 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 a consensus price target of GBX 13.

Gemfields Group Price Performance

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 company has a market capitalization of £99.14 million, a PE ratio of -0.62 and a beta of 0.11. The stock has a 50 day moving average price of GBX 5.85 and a two-hundred day moving average price of GBX 5.77.

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.