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

Shares of Gemfields Group Limited (LON:GEM) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 5.87 and traded as low as GBX 5.62. Gemfields Group shares last traded at GBX 5.65, with a volume of 49,700 shares trading hands.

Wall Street Analysts Forecast Growth

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

Gemfields Group Stock Performance

The stock has a market capitalization of £96.90 million, a PE ratio of -0.60 and a beta of 0.11. The business’s 50 day moving average is GBX 5.81 and its 200 day moving average is GBX 5.87. The company has a current ratio of 2.11, a quick ratio of 2.46 and a debt-to-equity ratio of 16.51.

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.