Gem Diamonds (LON:GEMD) Shares Down 8.8% – Here’s Why

Gem Diamonds Limited (LON:GEMD) shares were down 8.8% on Thursday . The stock traded as low as GBX 3.70 and last traded at GBX 3.70. Approximately 42,125 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 771,826 shares. The stock had previously closed at GBX 4.06.

Gem Diamonds Stock Down 8.8%

The firm has a market cap of £5.18 million, a P/E ratio of -0.05, a price-to-earnings-growth ratio of 0.18 and a beta of 1.20. The company’s 50-day simple moving average is GBX 3.98 and its 200 day simple moving average is GBX 3.44. The company has a debt-to-equity ratio of 25.27, a current ratio of 2.34 and a quick ratio of 1.09.

About Gem Diamonds

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.