Petra Diamonds Limited 51.1% potential upside indicated by Berenberg Bank

Petra Diamonds Limited with ticker (LON:PDL) now has a potential upside of 51.1% according to Berenberg Bank.



Berenberg Bank set a target price of 190 GBX for the company, which when compared to the Petra Diamonds Limited share price of 93 GBX at opening today (03/01/2023) indicates a potential upside of 51.1%. Trading has ranged between 66 (52 week low) and 139 (52 week high) with an average of 141,707 shares exchanging hands daily. The market capitalisation at the time of writing is £191,543,715.

Petra Diamonds Limited is an independent diamond mining company and a supplier of gem quality rough diamonds to the international market. The Company’s segments include Mining, Corporate and Beneficiation. Its Mining segment is engaged in the extraction and sale of rough diamonds from mining operations in South Africa and Tanzania. The Company’s portfolio incorporates interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit mine in Tanzania (Williamson). The Cullinan mines provide gem diamonds, including Type II stones, as well as rare blue diamonds. The Finsch mines have produced special diamonds and a number of +50 carat stones annually. The Koffiefontein mine produces white stones and occasional fancy pink diamonds. The Williamson mine is a diamond producer and is based on approximately 146 hectares of Mwadui kimberlite pipe.