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Petra Diamonds ( (GB:PDL) ) just unveiled an announcement.
Petra Diamonds has requested the withdrawal of all its Moody’s credit ratings, including those for its subsidiary Petra Diamonds US$ Treasury Plc, following the company’s decision to cancel its subscription with the agency as part of broader cost-optimisation efforts. The miner emphasised that the move is not driven by any deterioration in trading, financial position, liquidity or outlook and is unrelated to any credit event, and it will retain ratings coverage through S&P Global Ratings to comply with covenants on its Second Lien Notes, where it was recently upgraded after a successful refinancing.
The most recent analyst rating on (GB:PDL) stock is a Hold with a £16.00 price target. To see the full list of analyst forecasts on Petra Diamonds stock, see the GB:PDL Stock Forecast page.
Spark’s Take on GB:PDL Stock
According to Spark, TipRanks’ AI Analyst, GB:PDL is a Neutral.
Petra Diamonds is under significant financial strain, with declining revenue, negative profitability, and high leverage posing substantial risks. The technical analysis indicates a bearish trend, further impacting the stock’s outlook. The negative P/E ratio and lack of dividend yield also detract from its valuation appeal. These factors collectively result in a low overall stock score.
To see Spark’s full report on GB:PDL stock, click here.
More about Petra Diamonds
Petra Diamonds Limited is a leading independent diamond mining group and supplier of gem-quality rough diamonds to the international market, with core operations centred on its Cullinan and Finsch underground mines in South Africa. Listed on the London Stock Exchange under ticker PDL, the company pursues a strategy of value-focused production by optimising recoveries from its high-quality resource base, aiming to support long-life, ethically operated mines in Kimberley Process member countries while generating sustainable benefits for shareholders, employees and host communities.
Average Trading Volume: 188,985
Technical Sentiment Signal: Strong Sell
Current Market Cap: £55.5M
For an in-depth examination of PDL stock, go to TipRanks’ Overview page.