Gem Diamonds Limited (GEMD) Receives GBX 123.14 Consensus Agreement From Brokerages

The shares of Gem Diamonds Limited (LON: GEMD) received an average rating of "Buy" by the seven brokerage firms that cover the company, MarketBeat Ratings reports that a stock research badyst evaluated the stock with a sales recommendation, one issued a buyback recommendation and five issued a buy recommendation on the company.The average twelve-month badyst goal who covered the stock in the last year is GBX 130.29 ($ 1.72).

A number of badysts recently commented on GEMD.JPMorgan Chase shares & Co. decreased their price target on Gem Diamonds from GBX 100 ($ 1.32) to GBX 90 ($ 1.19) ) and "Neutral" rating on the security in a research note on Monday, April 9, 2004. Canaccord Genuity reissued a "speculative purchase" note and issued a price target of GBX 120 ($ 1.59) on the Gem Diamonds shares in a research note on Thursday 26 April. Liberum Capital raised their price target on Gem Diamonds rose from GBX 115 ($ 1.52) to 135 GBX ($ 1.79) and gave a "buy" rating to the stock in a research note on Friday, June 8th. Citigroup republished a "buy" note and posted a price target of GBX 150 ($ 1.99) (against GBX 115 ($ 1.52)) on Gem Diamonds shares in a research note on Monday, June 11. Finally, Barclays raised its price target on Gem Diamonds from GBX 90 ($ 1.19) to GBX 110 ($ 1.46) and gave the stock an "underweight" rating in a note of search Wednesday.

GEMD opened at GBX 110.44 (US $ 1.46) on Tuesday. Gem Diamonds has a minimum of 52 weeks of GBX 66 ($ 0.87) and a high of 52.75 GBX ($ 1.52).

About Gem Diamonds

Gem Diamonds Limited explores and develops diamond mines. The company owns a 70% stake in the Let mine Eng located in the Kingdom of Lesotho; and 100% interest in the Ghaghoo mine located in Botswana. It also manufactures, sells and markets rough and polished diamonds. In addition, the company provides technical, financial and management consulting services.

Learn more: Basic Principles of Price / Earnings Ratio

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