Gemfields Group (LON:GEM) Share Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• Technical breach: Gemfields shares dropped below its 200-day moving average (GBX 5.63) to GBX 4.51, trading down about 5.2% on light volume (300 shares).
• Analyst outlook: Panmure Gordon reaffirmed a Buy rating with a GBX 13 price target, and MarketBeat shows a consensus Buy and target of GBX 13.
• Financial snapshot: Market cap is £77.68M with a negative P/E (-0.48), strong liquidity (current ratio 2.50, quick ratio 2.46), modest leverage (debt/equity 30.49) and a low beta (0.11).

Gemfields Group Limited (LON:GEM - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 5.63 and traded as low as GBX 4.51. Gemfields Group shares last traded at GBX 4.51, with a volume of 300 shares changing hands.

Analyst Ratings Changes

Separately, Panmure Gordon reaffirmed a "buy" rating and set a GBX 13 price target on shares of Gemfields Group in a report on Friday, December 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Gemfields Group currently has a consensus rating of "Buy" and a consensus target price of GBX 13.

Gemfields Group Stock Down 5.2%

The company has a current ratio of 2.50, a quick ratio of 2.46 and a debt-to-equity ratio of 30.49. The company has a market capitalization of £77.68 million, a P/E ratio of -0.48 and a beta of 0.11. The stock has a 50 day moving average price of GBX 5.22 and a 200 day moving average price of GBX 5.63.

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.

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