JPMorgan Chase & Co. Cuts Gem Diamonds (GEMD) Price Target to GBX 110

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Gem Diamonds (LON:GEMD) had its price objective reduced by JPMorgan Chase & Co. from GBX 115 ($1.50) to GBX 110 ($1.44) in a research note released on Friday morning. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research analysts have also commented on the stock. Liberum Capital reissued a buy rating on shares of Gem Diamonds in a research note on Wednesday, October 31st. Canaccord Genuity reissued a buy rating and issued a GBX 145 ($1.89) price objective on shares of Gem Diamonds in a research note on Thursday, January 3rd. Barclays raised their price objective on shares of Gem Diamonds from GBX 110 ($1.44) to GBX 115 ($1.50) and gave the company an underweight rating in a research note on Friday, October 12th. Finally, Berenberg Bank reissued a buy rating and issued a GBX 140 ($1.83) price objective on shares of Gem Diamonds in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of GBX 130 ($1.70).

Shares of GEMD opened at GBX 102 ($1.33) on Friday. Gem Diamonds has a 1-year low of GBX 66 ($0.86) and a 1-year high of GBX 114.75 ($1.50).

About Gem Diamonds

Gem Diamonds Limited explores for and develops diamond mines. The company's flagship project is the Letšeng mine located in the Kingdom of Lesotho. It also manufactures, sells, and markets rough and polished diamonds. In addition, the company provides technical, financial, and management consultancy services.

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