Gem Diamonds (GEMD) Lowered to “Hold” at Berenberg Bank
Gem Diamonds (LON:GEMD) was downgraded by research analysts at Berenberg Bank to a “hold” rating in a research note issued to investors on Wednesday. They currently have a GBX 95 ($1.24) price target on the stock, down from their prior price target of GBX 120 ($1.57). Berenberg Bank’s price target indicates a potential upside of 2.15% from the stock’s current price.
A number of other brokerages also recently issued reports on GEMD. JPMorgan Chase & Co. reduced their price target on shares of Gem Diamonds from GBX 115 ($1.50) to GBX 110 ($1.44) and set a “neutral” rating on the stock in a report on Friday, February 8th. Liberum Capital reiterated a “buy” rating on shares of Gem Diamonds in a report on Thursday, March 21st. BMO Capital Markets reiterated an “underperform” rating on shares of Gem Diamonds in a report on Wednesday. Citigroup reduced their price target on shares of Gem Diamonds from GBX 150 ($1.96) to GBX 125 ($1.63) and set a “buy” rating on the stock in a report on Friday, February 8th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a GBX 145 ($1.89) price target on shares of Gem Diamonds in a report on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 122.50 ($1.60).
Shares of GEMD stock opened at GBX 93 ($1.22) on Wednesday. The firm has a market cap of $129.20 million and a PE ratio of 5.08. Gem Diamonds has a one year low of GBX 83 ($1.08) and a one year high of GBX 125 ($1.63). The company has a debt-to-equity ratio of 14.97, a quick ratio of 1.06 and a current ratio of 1.74.
Gem Diamonds Limited explores for and develops diamond mines. The company's flagship project is the Leteng mine located in the Kingdom of Lesotho. It also manufactures, sells, and markets rough and polished diamonds. In addition, the company provides technical, financial, and management consultancy services.
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