Gem Diamonds (LON:GEMD) had its price objective lowered by stock analysts at Barclays from GBX 71 ($0.96) to GBX 60 ($0.81) in a research report issued on Monday. The brokerage currently has an “underweight” rating on the stock. Barclays’ price target indicates a potential downside of 25.55% from the stock’s current price.
A number of other research firms have also weighed in on GEMD. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 100 ($1.36) price objective on shares of Gem Diamonds in a research note on Wednesday, November 1st. Liberum Capital reissued a “hold” rating and set a GBX 90 ($1.22) price target on shares of Gem Diamonds in a research note on Tuesday, October 31st. FinnCap reissued a “buy” rating and set a GBX 150 ($2.03) price target on shares of Gem Diamonds in a research note on Tuesday, October 31st. Panmure Gordon reissued a “buy” rating and set a GBX 132 ($1.79) price target on shares of Gem Diamonds in a research note on Monday, September 11th. Finally, Canaccord Genuity reissued a “speculative buy” rating and set a GBX 95 ($1.29) price target on shares of Gem Diamonds in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of GBX 105.25 ($1.43).
Gem Diamonds (GEMD) traded down GBX 0.81 ($0.01) during midday trading on Monday, hitting GBX 80.59 ($1.09). The stock had a trading volume of 5,357 shares, compared to its average volume of 55,866. The company has a market capitalization of $111.67 and a price-to-earnings ratio of -111.94. Gem Diamonds has a 1 year low of GBX 66 ($0.90) and a 1 year high of GBX 124.75 ($1.69).
Gem Diamonds Limited is a United Kingdom-based diamond producer, which is engaged in the exploration and development of diamond mines. The Company operates diamond mining operations in Lesotho and Botswana. The Company’s geographical segments include Lesotho, which is involved in diamond mining activities; Botswana, which is engaged in diamond mining activities; Belgium, which is involved in the sales, marketing and manufacturing of diamonds, and British Virgin Islands (BVI), Republic of South Africa (RSA) and the United Kingdom, which provides technical and administrative services.
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