Goldman Sachs Group Upgrades Petra Diamonds (LON:PDL) to “Buy”

Petra Diamonds (LON:PDL) was upgraded by investment analysts at Goldman Sachs Group to a “buy” rating in a report released on Wednesday, June 5th, ThisIsMoney.Co.Uk reports. The firm presently has a GBX 32 ($0.42) target price on the stock, up from their prior target price of GBX 30 ($0.39). Goldman Sachs Group’s price target points to a potential upside of 62.60% from the company’s previous close.

PDL has been the topic of a number of other research reports. Canaccord Genuity decreased their price target on shares of Petra Diamonds from GBX 70 ($0.91) to GBX 55 ($0.72) and set a “buy” rating on the stock in a research note on Thursday, February 21st. Royal Bank of Canada reiterated a “sector performer” rating on shares of Petra Diamonds in a research note on Monday, February 18th. Barclays decreased their price target on shares of Petra Diamonds from GBX 52 ($0.68) to GBX 30 ($0.39) and set an “overweight” rating on the stock in a research note on Friday, April 12th. Berenberg Bank cut their price objective on Petra Diamonds from GBX 37 ($0.48) to GBX 30 ($0.39) and set a “hold” rating for the company in a report on Tuesday, February 19th. Finally, Liberum Capital reissued a “hold” rating on shares of Petra Diamonds in a report on Monday, February 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of GBX 46.50 ($0.61).

Shares of Petra Diamonds stock traded down GBX 0.46 ($0.01) during midday trading on Wednesday, hitting GBX 19.68 ($0.26). The company had a trading volume of 2,062,663 shares, compared to its average volume of 2,620,000. Petra Diamonds has a 1-year low of GBX 16.68 ($0.22) and a 1-year high of GBX 61.20 ($0.80). The company has a current ratio of 2.04, a quick ratio of 1.04 and a debt-to-equity ratio of 146.89. The company’s 50 day moving average price is GBX 21.84. The company has a market cap of $169.52 million and a PE ratio of -1.05.

In other Petra Diamonds news, insider Richard Duffy purchased 240,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was acquired at an average cost of GBX 21 ($0.27) per share, with a total value of £50,400 ($65,856.53).

About Petra Diamonds

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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Analyst Recommendations for Petra Diamonds (LON:PDL)

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