TD Securities Lowers Stornoway Diamond (SWY) Price Target to C$0.75

Stornoway Diamond (TSE:SWY) had its target price lowered by analysts at TD Securities from C$0.80 to C$0.75 in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price suggests a potential upside of 15.38% from the stock’s current price.

A number of other research firms have also weighed in on SWY. Royal Bank of Canada lowered Stornoway Diamond from a “sector perform” rating to an “underperform” rating and reduced their price objective for the company from C$0.90 to C$0.60 in a research note on Thursday, October 12th. BMO Capital Markets reduced their price objective on Stornoway Diamond from C$1.25 to C$0.80 and set a “market perform” rating for the company in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of C$1.00.

Stornoway Diamond (TSE SWY) remained flat at $C$0.65 during midday trading on Friday. 86,471 shares of the stock traded hands, compared to its average volume of 159,355. The firm has a market cap of $517.86, a PE ratio of 10.83 and a beta of 1.19. Stornoway Diamond has a one year low of C$0.60 and a one year high of C$0.99.

In other Stornoway Diamond news, Director Patrick Godin purchased 61,500 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average price of C$0.70 per share, for a total transaction of C$43,050.00. In the last 90 days, insiders purchased 91,500 shares of company stock valued at $62,450.

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About Stornoway Diamond

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.

Analyst Recommendations for Stornoway Diamond (TSE:SWY)

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