Gem Diamonds (LON:GEMD) Shares Up 74.7% – Here’s Why

Gem Diamonds Limited (LON:GEMDGet Free Report) shot up 74.7% during mid-day trading on Wednesday . The stock traded as high as GBX 6 and last traded at GBX 4.98. 18,255,744 shares were traded during mid-day trading, an increase of 1,556% from the average session volume of 1,102,109 shares. The stock had previously closed at GBX 2.85.

Gem Diamonds Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 30.82. The business has a 50 day moving average price of GBX 3.07 and a 200 day moving average price of GBX 3.98. The stock has a market cap of £6.97 million, a P/E ratio of -0.64, a PEG ratio of 0.18 and a beta of 1.51.

Gem Diamonds Company Profile

(Get Free Report)

Gem Diamonds is a leading global diamond producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

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