Petra Diamonds Ltd.(DI) (PDL)

Sector:

Mining

Index:

FTSE Fledgling

1.70p
   
  • Change Today:
      0.005p
  • 52 Week High: 2.29p
  • 52 Week Low: 1.27p
  • Currency: UK Pounds
  • Shares Issued: 9,710m
  • Volume: 18,037,219
  • Market Cap: £164.68m
  • RiskGrade: 380

Petra Diamonds sells collection of 5 blue diamonds for $40.4m

By Michele Maatouk

Date: Wednesday 25 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Petra Diamonds said on Wednesday that it has sold the Letlapa Tala Collection of five blue diamonds for $40.36m.

The collection, weighing 85.6 carats in total, was sold as a suite of stones to a partnership between De Beers and Diacore.

Chief executive Richard Duffy said: "The result of this special tender affirms the very high value placed on blue diamonds, which are undoubtedly one of nature's rarest treasures.

"We believe this to be the first time that five rough blue diamonds of significant size, colour and clarity have been offered for sale at one time and we are delighted that the collection has been bought in its entirety."

Broker Peel Hunt said the total revenue of $40.36m is $5m higher than it had anticipated.

"This sale will contribute to a substantial jump in profitability in FY21E, as the rough diamond market stabilises and Petra can return to normal mining operations," it said .

"It also provides a welcome injection of cash to the group. We would anticipate that the incremental revenue relative to our estimate will drop through to the EBITDA line. At $160m we are already expecting FY21E to return to more normal profitability."

At 1310 GMT, Petra shares were up 5.6% at 1.68p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PDL Market Data

Currency UK Pounds
Share Price 1.70p
Change Today 0.005p
% Change 0.30 %
52 Week High 2.29p
52 Week Low 1.27p
Volume 18,037,219
Shares Issued 9,710m
Market Cap £164.68m
RiskGrade 380

PDL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
3.16% above the market average3.16% above the market average3.16% above the market average3.16% above the market average3.16% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Price Trend
93.27% below the market average93.27% below the market average93.27% below the market average93.27% below the market average93.27% below the market average
43.08% below the sector average43.08% below the sector average43.08% below the sector average43.08% below the sector average43.08% below the sector average
Income Not Available
Growth
55.97% below the market average55.97% below the market average55.97% below the market average55.97% below the market average55.97% below the market average
16.13% above the sector average16.13% above the sector average16.13% above the sector average16.13% above the sector average16.13% above the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 8
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PDL Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 15-Oct-15
Paid n/a 07-Dec-15
Amount 0.000¢ 3.00¢

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 43,727 @ 1.70p
16:29 66 @ 1.69p
16:29 125 @ 1.69p
16:29 55,297 @ 1.69p
16:27 60,606 @ 1.69p

PDL Key Personnel

Finance Director Jacques Breytenbach
CEO Richard Duffy

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