Gem Diamonds (LON:GEMD) Given Buy Rating at Bank of America

Bank of America reaffirmed their buy rating on shares of Gem Diamonds (LON:GEMD) in a research note published on Tuesday morning, Digital Look reports.

Other research analysts also recently issued research reports about the stock. Liberum Capital restated a buy rating on shares of Gem Diamonds in a report on Friday, October 4th. JPMorgan Chase & Co. dropped their price objective on shares of Gem Diamonds from GBX 120 ($1.57) to GBX 110 ($1.44) and set a neutral rating on the stock in a report on Thursday, August 15th. Berenberg Bank dropped their price objective on shares of Gem Diamonds from GBX 95 ($1.24) to GBX 93 ($1.22) and set a hold rating on the stock in a report on Monday, August 5th. Barclays dropped their price objective on shares of Gem Diamonds from GBX 90 ($1.18) to GBX 80 ($1.05) and set an underweight rating on the stock in a report on Thursday, July 4th. Finally, Shore Capital restated a not rated rating on shares of Gem Diamonds in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Gem Diamonds has a consensus rating of Hold and an average price target of GBX 107.17 ($1.40).

LON:GEMD opened at GBX 70 ($0.91) on Tuesday. The firm’s 50-day moving average is GBX 71.69 and its 200-day moving average is GBX 79.86. Gem Diamonds has a 52-week low of GBX 68.40 ($0.89) and a 52-week high of GBX 118.50 ($1.55). The company has a debt-to-equity ratio of 16.01, a quick ratio of 0.77 and a current ratio of 1.55. The company has a market cap of $97.29 million and a price-to-earnings ratio of 16.67.

Gem Diamonds Company Profile

Gem Diamonds Limited explores for and develops diamond mines. The company's flagship project is the Letšeng 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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Analyst Recommendations for Gem Diamonds (LON:GEMD)

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