Shares of Gem Diamonds Limited (LON:GEMD) were down 7.1% on Wednesday . The stock traded as low as GBX 88.60 ($1.16) and last traded at GBX 89.20 ($1.17). Approximately 134,116 shares traded hands during trading, a decline of 23% from the average daily volume of 174,864 shares. The stock had previously closed at GBX 96 ($1.25).

Several analysts have weighed in on GEMD shares. JPMorgan Chase & Co. lowered their target price on shares of Gem Diamonds from GBX 115 ($1.50) to GBX 110 ($1.44) and set a “neutral” rating for the company in a research note on Friday, February 8th. Liberum Capital reiterated a “buy” rating on shares of Gem Diamonds in a research note on Thursday, February 7th. Citigroup lowered their target price on shares of Gem Diamonds from GBX 150 ($1.96) to GBX 125 ($1.63) and set a “buy” rating for the company in a research note on Friday, February 8th. Canaccord Genuity reiterated a “buy” rating and set a GBX 145 ($1.89) target price on shares of Gem Diamonds in a research note on Thursday, January 3rd. Finally, Berenberg Bank lowered their target price on shares of Gem Diamonds from GBX 140 ($1.83) to GBX 120 ($1.57) and set a “buy” rating for the company in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of GBX 126.67 ($1.66).

The company has a market cap of $122.81 million and a price-to-earnings ratio of 3.88. The company has a debt-to-equity ratio of 17.21, a quick ratio of 1.47 and a current ratio of 2.12.

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About Gem Diamonds (LON:GEMD)

Gem Diamonds Limited explores for and develops diamond mines. The company's flagship project is the LetĀšeng 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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