Gem Diamonds (GEMD) Stock Rating Reaffirmed by Canaccord Genuity
Gem Diamonds (LON:GEMD)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research report issued on Wednesday. They presently have a GBX 145 ($1.87) price target on the stock. Canaccord Genuity’s price target indicates a potential upside of 21.93% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. Liberum Capital upped their target price on shares of Gem Diamonds from GBX 135 ($1.74) to GBX 145 ($1.87) and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Gem Diamonds from GBX 100 ($1.29) to GBX 115 ($1.48) and gave the company a “neutral” rating in a research note on Monday, August 6th. Barclays upped their price target on shares of Gem Diamonds from GBX 90 ($1.16) to GBX 110 ($1.42) and gave the company an “underweight” rating in a research note on Wednesday, July 18th. Finally, Citigroup reaffirmed a “buy” rating and set a GBX 150 ($1.93) price target (up previously from GBX 115 ($1.48)) on shares of Gem Diamonds in a research note on Monday, June 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of GBX 135.29 ($1.75).
Shares of LON:GEMD opened at GBX 118.92 ($1.53) on Wednesday. Gem Diamonds has a fifty-two week low of GBX 66 ($0.85) and a fifty-two week high of GBX 114.75 ($1.48).
Gem Diamonds Limited explores for and develops diamond mines. The company owns 70% interest in the Let?eng mine located in the Kingdom of Lesotho; and 100% interest in the Ghaghoo mine located in Botswana. 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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