Petra Diamonds Limited (LON:PDL)’s share price dropped 11.1% during trading on Friday . The company traded as low as GBX 26.55 ($0.35) and last traded at GBX 26.76 ($0.35). Approximately 2,895,318 shares changed hands during trading, an increase of 11% from the average daily volume of 2,620,000 shares. The stock had previously closed at GBX 30.10 ($0.39).

PDL has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Petra Diamonds in a research note on Tuesday, October 23rd. Barclays reiterated an “overweight” rating on shares of Petra Diamonds in a research note on Tuesday, October 23rd. Canaccord Genuity reiterated a “buy” rating and set a GBX 70 ($0.91) target price on shares of Petra Diamonds in a research note on Wednesday, October 24th. Liberum Capital reiterated a “hold” rating on shares of Petra Diamonds in a research note on Monday, January 28th. Finally, Royal Bank of Canada downgraded shares of Petra Diamonds to a “sector performer” rating and lowered their target price for the stock from GBX 65 ($0.85) to GBX 40 ($0.52) in a research note on Monday, January 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of GBX 55.57 ($0.73).

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About Petra Diamonds (LON:PDL)

Petra Diamonds Limited engages in the mining, exploration, processing, sorting, and sale of rough diamonds in South Africa, Tanzania, and Botswana. It holds interest in three underground producing mines in Finsch, Cullinan, and Koffiefontein, South Africa; and an open pit producing mine in Williamson, Tanzania.

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