Gemfields Group (LON:GEM) Hits New 52-Week Low – Here’s Why

Gemfields Group Limited (LON:GEM) shares hit a new 52-week low during trading on Thursday . The company traded as low as GBX 2.50 and last traded at GBX 3.19, with a volume of 10533 shares changing hands. The stock had previously closed at GBX 2.85.

Gemfields Group Trading Up 11.9%

The firm has a 50-day simple moving average of GBX 3.13 and a 200-day simple moving average of GBX 4.07. The company has a quick ratio of 2.46, a current ratio of 1.77 and a debt-to-equity ratio of 31.57. The stock has a market cap of £54.97 million, a PE ratio of -1.23 and a beta of 0.20.

About Gemfields Group

Gemfields is a world-leading 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.

Gemfields has developed a proprietary grading system and a pioneering auction platform to provide a consistent supply of coloured gemstones to downstream markets, a key component of Gemfields’ business model that has played an important role in the growth of the global coloured gemstone sector.