Gemfields Group (LON:GEM) Shares Down 7% - Here's What Happened

Key Points

• Gemfields shares fell 7% to GBX 4.23 on Friday, with 73,809 shares traded (about 17% below the average) after a prior close of GBX 4.55.
• The company is a leading coloured-gemstone miner (75% operator/owner of the Kagem emerald mine and owner of the Montepuez ruby mine), with a market cap of £73.28M, a negative P/E (-1.63) and 50/200-day moving averages of GBX 4.80/5.41.

Gemfields Group Limited (LON:GEM - ) traded down 7% on Friday . The stock traded as low as GBX 4.23 and last traded at GBX 4.23. 73,809 shares traded hands during trading, a decline of 17% from the average session volume of 89,087 shares. The stock had previously closed at GBX 4.55.

Gemfields Group Stock Down 6.6%

The firm's fifty day moving average price is GBX 4.80 and its two-hundred day moving average price is GBX 5.41. The stock has a market cap of £73.28 million, a price-to-earnings ratio of -1.63 and a beta of 0.11. The company has a debt-to-equity ratio of 31.57, a current ratio of 1.77 and a quick ratio of 2.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.