Gem Diamonds Limited 28.8% potential upside indicated by Barclays

Gem Diamonds Limited with ticker (LON:GEMD) now has a potential upside of 28.8% according to Barclays.



Barclays set a target price of 60 GBX for the company, which when compared to the Gem Diamonds Limited share price of 43 GBX at opening today (13/07/2022) indicates a potential upside of 28.8%. Trading has ranged between (52 week low) and 44 (52 week high) with an average of 232,304 shares exchanging hands daily. The market capitalisation at the time of writing is £61,287,942.

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.