Petra Diamonds (LON:PDL) had its target price reduced by investment analysts at JPMorgan Chase & Co. from GBX 35 ($0.46) to GBX 30 ($0.39) in a research note issued to investors on Thursday, Digital Look reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 271.75% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed a “sector performer” rating on shares of Petra Diamonds in a research note on Wednesday, July 31st. Goldman Sachs Group raised shares of Petra Diamonds to a “buy” rating and raised their price target for the company from GBX 30 ($0.39) to GBX 32 ($0.42) in a research note on Wednesday, June 5th. Berenberg Bank reaffirmed a “sell” rating and issued a GBX 8 ($0.10) price target on shares of Petra Diamonds in a research note on Monday, August 5th. Barclays decreased their price target on shares of Petra Diamonds from GBX 28 ($0.37) to GBX 26 ($0.34) and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, Liberum Capital lowered shares of Petra Diamonds to a “sell” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Petra Diamonds presently has a consensus rating of “Hold” and an average price target of GBX 37.29 ($0.49).
Petra Diamonds stock remained flat at $GBX 8.07 ($0.11) during midday trading on Thursday. 5,626,247 shares of the company were exchanged, compared to its average volume of 2,620,000. The company has a market capitalization of $69.83 million and a P/E ratio of -0.43. Petra Diamonds has a 1 year low of GBX 7.95 ($0.10) and a 1 year high of GBX 46.10 ($0.60). The business has a 50-day moving average of GBX 10.06 and a two-hundred day moving average of GBX 18.17. The company has a quick ratio of 1.04, a current ratio of 2.04 and a debt-to-equity ratio of 146.89.
Petra Diamonds Company Profile
Petra Diamonds Limited engages in the mining, exploration, processing, sorting, and sale of rough diamonds in South Africa, Tanzania, and Botswana. It holds interest in three underground producing mines in Finsch, Cullinan, and Koffiefontein, South Africa; and an open pit producing mine in Williamson, Tanzania.
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