Could Petra Diamonds Limited Lose its Strength? The Stock Reaches 52-Week High

 Could Petra Diamonds Limited Lose its Strength? The Stock Reaches 52 Week High

The stock of Petra Diamonds Limited (LON:PDL) hit a new 52-week high and has GBX 207.55 target or 39.00% above today’s GBX 149.32 share price. The 7 months bullish chart indicates low risk for the GBX 779.44 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the GBX 207.55 price target is reached, the company will be worth GBX 303.98 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 4.59% or GBX 7.18 on November 11, hitting GBX 149.32. About 1.00 million shares traded hands. Petra Diamonds Limited (LON:PDL) has risen 32.63% since April 13, 2016 and is uptrending. It has outperformed by 26.48% the S&P500.

Petra Diamonds Limited (LON:PDL) Ratings Coverage

Out of 18 analysts covering Petra Diamonds Ltd (LON:PDL), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. Petra Diamonds Ltd has been the topic of 128 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Monday, January 25, the company rating was maintained by FinnCap. The company was maintained on Monday, September 21 by Northland Capital. The stock has “Overweight” rating given by Barclays Capital on Tuesday, September 20. On Wednesday, October 28 the stock rating was maintained by Panmure Gordon with “Buy”. JP Morgan maintained Petra Diamonds Limited (LON:PDL) on Thursday, September 15 with “Overweight” rating. The rating was maintained by Macquarie Research with “Neutral” on Monday, November 16. The stock has “Hold” rating given by Beaufort Securities on Tuesday, February 23. FinnCap maintained it with “Buy” rating and GBX 191 target price in Wednesday, October 28 report. Barclays Capital maintained the shares of PDL in a report on Thursday, February 25 with “Overweight” rating. As per Friday, December 11, the company rating was maintained by SP Angel.

More news for Petra Diamonds Limited (LON:PDL) were recently published by: Moodys.com, which released: “Moody’s confirms Petra Diamonds’ B1 ratings; stable outlook” on May 04, 2016. Moodys.com‘s article titled: “Moody’s Assigns provisional (P)B2 Rating to Petra Diamonds Notes” and published on April 24, 2015 is yet another important article.

Petra Diamonds Limited is an independent diamond mining firm and supplier of rough diamonds to the international market. The company has a market cap of 779.44 million GBP. The Company’s divisions include Mining and Exploration. It has a 19.04 P/E ratio. The Mining segment includes the extraction and sale of rough diamonds from mining activities in South Africa and Tanzania.

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