Petra Diamonds (LON:PDL) Trading 8.4% Higher - Here's What Happened

Key Points

• Petra Diamonds' stock rose by 8.4% on Monday, closing at GBX 20.60 ($0.28), despite a 22% decline in trading volume compared to its average.
• The company has a high debt-to-equity ratio of 124.59 and a PE ratio of -5.90, indicating potential financial stress.
• Petra Diamonds focuses on optimizing recoveries from its high-quality assets and has announced plans to sell its interest in the Williamson mine in early 2025.

Petra Diamonds Limited (LON:PDL - )'s stock price shot up 8.4% on Monday . The company traded as high as GBX 21 ($0.28) and last traded at GBX 20.60 ($0.28). 283,744 shares were traded during trading, a decline of 22% from the average session volume of 364,723 shares. The stock had previously closed at GBX 19 ($0.26).

Petra Diamonds Trading Up 8.4%

The company has a debt-to-equity ratio of 124.59, a quick ratio of 3.52 and a current ratio of 1.32. The company's 50-day moving average price is GBX 14.33 and its 200 day moving average price is GBX 22.15. The stock has a market cap of £51.86 million, a PE ratio of -5.90, a price-to-earnings-growth ratio of 0.17 and a beta of 1.45.

About Petra Diamonds

Petra Diamonds is a leading independent diamond mining group and a supplier of gem quality rough diamonds to the international market. The Company's portfolio incorporates interests in two underground mines in South Africa (Cullinan and Finsch Mines) and one open pit mine in Tanzania (Williamson). In January 2025, Petra announced that it has entered into an agreement to sell its entire shareholding in the entity that holds Petra's interest in Williamson. Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability.

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