Gemfields Group (LON:GEM) Shares Up 31.3% – Still a Buy?

Gemfields Group Limited (LON:GEM)’s stock price traded up 31.3% during mid-day trading on Monday . The stock traded as high as GBX 4 and last traded at GBX 3.94. Approximately 714,229 shares changed hands during trading, an increase of 78% from the average daily volume of 401,720 shares. The stock had previously closed at GBX 3.

Gemfields Group Stock Performance

The company has a debt-to-equity ratio of 31.57, a current ratio of 1.77 and a quick ratio of 2.46. The business has a 50-day simple moving average of GBX 3.03 and a 200 day simple moving average of GBX 3.93. The firm has a market cap of £56.38 million, a PE ratio of -1.26 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.