On Wednesday analysts at Peel Hunt reiterated Gemfields PLC’s (LON:GEM) shares as ‘Buy’ in a research note issued to investors.
Following Peel Hunt’s latest price target of 93 on the business this highlights that the broker now believes there is an increase of 86.93% from Gemfields PLC’s current share price of 49.75.
The number of shares Gemfields PLC currently has in issue is 544,237,000, which have a value of 49.75 per share calculating Gemfields PLC’s market capitalisation to 270.76M GBP.
Shares in Gemfields PLC have risen as high as 57.5 in the past 52 weeks whilst the lowest price in the last 52 weeks has been 31. The business’s 50 day moving average is 51.13 and its 200 day moving average is 44.26.
Gemfields plc is a supplier of colored gemstones. The Company operates through 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; Faberge, which includes wholesale and retail sales of jewelry and watches, and Other, which includes new projects and traded auctions. Its assets include Kagem emerald mine, which covers an area of over 41 square kilometers and is located in the central part of the Ndola Rural Emerald Restricted Area in Zambia; Montepuez ruby mine, which is located in the Cabo Delgado province and covers an area of approximately 33,600 hectares, and Kariba amethyst mine, which is located in the southern part of Kalomo district, Zambia. The Company’s other assets include Eastern Ruby Mining Limitada, Mozambique-rubies, and Megaruma Mining Limitada, Mozambique-rubies.