Petra Diamonds Ltd -2.1% potential downside indicated by Barclays

Petra Diamonds Ltd with ticker (LON:PDL) now has a potential downside of -2.1% according to Barclays.



Barclays set a target price of 70 GBX for the company, which when compared to the Petra Diamonds Ltd share price of 72 GBX at opening today (17/08/2023) indicates a potential downside of -2.1%. Trading has ranged between 63 (52 week low) and 123 (52 week high) with an average of 772,963 shares exchanging hands daily. The market capitalisation at the time of writing is £135,696,470.

Petra Diamonds Limited is a United Kingdom-based 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 produces 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.