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?
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Trading Update this week- Are we long & wrong?
Petra Diamonds Limited (PDL:LON) | 42.0 -0.3 (-1.4%) | Mkt Cap: 81.6m
- 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