FinnCap increased their target price on shares ofGemfields PLC (LON:GEM) from GBX 77 ($1.20) to GBX 81 ($1.26) in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has a “corporate” rating on the stock. FinnCap’s price target indicates a potential upside of 39.06% from the company’s current price.
Shares of Gemfields PLC (LON:GEM) opened at 60.0000 on Wednesday. Gemfields PLC has a one year low of GBX 43.13 and a one year high of GBX 69.00. The stock’s 50-day moving average is GBX 60.62 and its 200-day moving average is GBX 55.20. The company’s market cap is £324.59 million.
A number of other analysts have also recently weighed in on GEM. Analysts at Investec lowered their price target on shares of Gemfields PLC from GBX 70.80 ($1.10) to GBX 69.90 ($1.09) and set a “buy” rating on the stock in a research note on Monday, July 6th. Analysts at Numis Securities Ltd reiterated a “buy” rating and set a GBX 80 ($1.25) price target on shares of Gemfields PLC in a research note on Tuesday, June 23rd. Finally, analysts at Sanlam Securities reiterated a “buy” rating and set a GBX 90 ($1.40) price target on shares of Gemfields PLC in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of GBX 75.32 ($1.18).
Gemfields PLC is a supplier of coloured gemstones. The Company operates in five segments: Zambia, which includes emerald and beryl mining activities; Mozambique, which includes ruby and corundum mining activities; UK, which includes sales of cut and polished gemstones, marketing, technical and administrative services; Fabergé, which includes wholesale and retail sales of jewellery, and Other, which includes traded auctions, sales and marketing offices. Its assets include, a 75% interest in Kagem emerald mine which covers an area almost 41 square kilometres in Zambia; a 75% interst in Montepuez ruby deposit located in the Montepuez district of the Cabo Delgado province in Mozambique, covers approximately 340 square kilometres; a 100% interest in the Fabergé brand; a 50% interest Kariba Minerals, and holds 15 exploration licences covering emeralds, rubies, sapphires, tourmalines and garnets in the Antananarivo, Fianarantsoa and Toliara provinces of Madagascar.
[“source – dakotafinancialnews.com”]