Gem Diamonds Limited 25.8% potential upside indicated by Barclays

Gem Diamonds Limited with ticker (LON:GEMD) now has a potential upside of 25.8% according to Barclays.



Barclays set a target price of 80 GBX for the company, which when compared to the Gem Diamonds Limited share price of 59 GBX at opening today (09/05/2022) indicates a potential upside of 25.8%. Trading has ranged between (52 week low) and 60 (52 week high) with an average of 416,519 shares exchanging hands daily. The market capitalisation at the time of writing is £89,232,749.

Gem Diamonds Limited is a United Kingdom-based diamond producer. The Company’s operations include Letseng and Ghaghoo. The Company owns 70% of the Letseng mine in Lesotho. The Letseng mine is located in the Maluti Mountains of Lesotho and it recovers Type II diamonds. Letseng also produces pink and blue diamonds. The Ghaghoo mine, situated near the south-eastern border of the Central Kalahari Game Reserve. The mine consists of a 10.4 hectares (ha) kimberlite pipe. Diamonds produced at Ghaghoo are of a commercial and lower value and size than those from Letseng. The Company’s subsidiaries include Gem Diamond Technical Services (Proprietary) Limited, Gem Equity Group Limited, Letseng Diamonds (Proprietary) Limited and Gem Diamonds Botswana (Proprietary) Limited.