Petra’s share price continues to underperform triggered by earnings downgrades and compounded by selling of a significant shareholding. Earnings downgrades have been driven by a weaker outlook for diamond prices particularly for the smaller stones and a blockage in the middle market as cutting and polishing margins are squeezed with lack of trade capital making the situation worse. The latter news should now be in the price – key concerns are - timing of recovery, upcoming trading
27 Oct 2015
Trading Update this week- Are we long & wrong?
Sign up to access
Get access to our full offering from over 100 providers
Get access to our full offering from over 100 providers
Trading Update this week- Are we long & wrong?
Petra Diamonds Limited (PDL:LON) | 17.6 -0.5 (-14.8%) | Mkt Cap: 54.3m
- Published:
27 Oct 2015 -
Author:
John Meyer | Sergey Raevskiy | Simon Beardsmore -
Pages:
10 -
Petra’s share price continues to underperform triggered by earnings downgrades and compounded by selling of a significant shareholding. Earnings downgrades have been driven by a weaker outlook for diamond prices particularly for the smaller stones and a blockage in the middle market as cutting and polishing margins are squeezed with lack of trade capital making the situation worse. The latter news should now be in the price – key concerns are - timing of recovery, upcoming trading