Stornoway Diamond Co. (SWY) Stock Rating Lowered by Royal Bank Of Canada
Stornoway Diamond Co. (TSE:SWY) was downgraded by research analysts at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating in a report released on Thursday. They presently have a C$0.60 target price on the stock, down from their prior target price of C$0.90. Royal Bank Of Canada’s price objective points to a potential downside of 21.05% from the stock’s previous close.
Separately, TD Securities lowered their target price on shares of Stornoway Diamond from C$0.90 to C$0.85 and set a “hold” rating for the company in a research note on Tuesday, August 15th.
Shares of Stornoway Diamond (TSE:SWY) traded down 3.80% during mid-day trading on Thursday, reaching $0.76. 1,831,632 shares of the company were exchanged. The firm has a market capitalization of $630.34 million and a price-to-earnings ratio of 18.54. The company’s 50-day moving average is $0.76 and its 200 day moving average is $0.79. Stornoway Diamond has a 12 month low of $0.69 and a 12 month high of $1.33.
In other Stornoway Diamond news, Director Patrick Godin sold 250,000 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of C$0.82, for a total transaction of C$205,000.00.
Stornoway Diamond Company Profile
Stornoway Diamond Corp is a Canada-based diamond exploration and development company. The Company is principally engaged in the acquisition, exploration and development of diamond properties. The Company’s principal focus is its Renard Diamond Project located in north-central Quebec, a project in construction.
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