Gemfields Group (LON:GEM) Trading Up 31.3% – Here’s Why

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

Gemfields Group Price Performance

The business’s 50 day simple moving average is GBX 3.03 and its 200-day simple moving average is GBX 3.95. The stock has a market capitalization of £67.93 million, a price-to-earnings ratio of -1.52 and a beta of 0.20. The company has a debt-to-equity ratio of 31.57, a quick ratio of 2.46 and a current ratio of 1.77.

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.