Commodities > Precious-stones

Stronger rand sees Petra Diamonds downgraded

Petra Diamonds’ (LN:PDL) rating has been downgraded to ‘sector perform’ with stronger South African rand forecasts making analysts jittery.

Commodities > Precious-stones

Stronger rand sees Petra Diamonds downgraded

Petra Diamonds’ (LN:PDL) rating has been downgraded to ‘sector perform’ with stronger South African rand forecasts making analysts jittery.

Stronger rand sees Petra Diamonds downgraded

The ramp up of Petra's Cullinan mine could allow for a rerating down the line

RBC Capital Markets analyst Tyler Broda downgraded the diamond producer from its ‘outperform' rating and moved its target price to £0.80 (US$1.12) per share from the previous £0.85/share.