Gemfields Group (LON:GEM) Shares Up 13.8% – Time to Buy?

Gemfields Group Limited (LON:GEM)’s share price rose 13.8% on Friday . The stock traded as high as GBX 3.30 and last traded at GBX 3.30. 107,464 shares were traded during trading, a decline of 74% from the average session volume of 406,904 shares. The stock had previously closed at GBX 2.90.

Gemfields Group Stock Performance

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 fifty day moving average price of GBX 3.11 and a two-hundred day moving average price of GBX 4.05. The company has a market capitalization of £56.90 million, a price-to-earnings ratio of -1.27 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.