Gem Diamonds (LON:GEMD) Trading Down 12.3% – Here’s Why

Gem Diamonds Limited (LON:GEMD)’s share price traded down 12.3% during mid-day trading on Thursday . The stock traded as low as GBX 3.40 and last traded at GBX 3.49. 211,737 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,237,238 shares. The stock had previously closed at GBX 3.98.

Gem Diamonds Price Performance

The firm has a market cap of £4.70 million, a P/E ratio of -0.43, a price-to-earnings-growth ratio of 0.18 and a beta of 1.51. The company has a debt-to-equity ratio of 30.82, a current ratio of 1.56 and a quick ratio of 1.09. The firm’s 50 day moving average is GBX 3.16 and its 200 day moving average is GBX 3.92.

About Gem Diamonds

Gem Diamonds is a leading global diamond producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.