Could Petra Diamonds Limited Change Direction After Reaching 52-Week High?

 Could Petra Diamonds Limited Change Direction After Reaching 52 Week High?

The stock of Petra Diamonds Limited (LON:PDL) hit a new 52-week high and has GBX 171.70 target or 6.00% above today’s GBX 161.98 share price. The 7 months bullish chart indicates low risk for the GBX 863.19M company. The 1-year high was reported on Nov, 24 by If the GBX 171.70 price target is reached, the company will be worth GBX 51.79M 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 increased 0.92% or GBX 1.48 on November 24, hitting GBX 161.98. About 860,850 shares traded hands. Petra Diamonds Limited (LON:PDL) has risen 33.47% since April 26, 2016 and is uptrending. It has outperformed by 28.06% 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 129 analyst reports since July 27, 2015 according to StockzIntelligence Inc. FinnCap maintained Petra Diamonds Limited (LON:PDL) rating on Monday, July 25. FinnCap has “Buy” rating and GBX 213 price target. The stock of Petra Diamonds Limited (LON:PDL) has “Buy” rating given on Tuesday, April 26 by FinnCap. The rating was maintained by FinnCap on Thursday, March 24 with “Buy”. The company was maintained on Thursday, January 14 by Canaccord Genuity. As per Tuesday, August 4, the company rating was maintained by Barclays Capital. The firm has “Buy” rating by FinnCap given on Wednesday, July 29. Panmure Gordon maintained the stock with “Hold” rating in Friday, September 18 report. Canaccord Genuity maintained it with “Buy” rating and GBX 140 target price in Monday, February 22 report. Macquarie Research maintained it with “Outperform” rating and GBX 140 target price in Monday, October 17 report. The stock of Petra Diamonds Limited (LON:PDL) has “Buy” rating given on Wednesday, October 28 by Liberum Capital.

More recent Petra Diamonds Limited (LON:PDL) news were published by: which released: “Moody’s confirms Petra Diamonds’ B1 ratings; stable outlook” on May 04, 2016. Also published the news titled: “Moody’s Assigns provisional (P)B2 Rating to Petra Diamonds Notes” on April 24, 2015. Fool.Co.Uk‘s news article titled: “3 Precious Investments: Xtract Resources PLC, Petra Diamonds Limited & Rare …” with publication date: January 28, 2016 was also an interesting one.

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 863.19 million GBP. The Company’s divisions include Mining and Exploration. It has a 20.44 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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