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Lucara Diamond (TSE:LUC) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Tuesday, American Banking News reports. The firm currently has a C$2.00 price objective on the stock, up from their previous price objective of C$1.70. BMO Capital Markets’ target price would suggest a potential upside of 19.76% from the company’s current price.

Shares of Lucara Diamond (TSE:LUC) traded up 1.20% during mid-day trading on Tuesday, hitting $1.69. The stock had a trading volume of 1,017,935 shares. Lucara Diamond has a one year low of $0.50 and a one year high of $1.77. The stock’s 50-day moving average is $1.58 and its 200-day moving average is $1.34. The company has a P/E ratio of 11.93.

A number of other firms have also recently commented on LUC. Analysts at RBC Capital cut their price target on shares of Lucara Diamond from C$1.70 to C$1.60 in a research note on Tuesday, January 14th. They now have a “sector perform” rating on the stock. Separately, analysts at FinnCap raised their price target on shares of Lucara Diamond from C$1.41 to C$1.72 in a research note on Monday, January 13th.

Lucara Diamond Corp. (TSE:LUC) is a diamond development company focused in Africa.

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