Petra Diamonds (LON:PDL) Shares Up 9.2% – Still a Buy?

Shares of Petra Diamonds Limited (LON:PDL) shot up 9.2% during trading on Friday . The company traded as high as GBX 7 and last traded at GBX 6.86. 1,511,242 shares traded hands during mid-day trading, an increase of 612% from the average session volume of 212,351 shares. The stock had previously closed at GBX 6.28.

Petra Diamonds Price Performance

The stock has a market capitalization of £24.33 million, a price-to-earnings ratio of -0.08, a P/E/G ratio of 0.17 and a beta of 1.45. The company has a quick ratio of 3.52, a current ratio of 1.67 and a debt-to-equity ratio of -3,777.78. The business’s 50 day simple moving average is GBX 6.46 and its 200-day simple moving average is GBX 12.08.

About Petra Diamonds

Petra Diamonds is a leading independent diamond mining group and a supplier of gem quality rough diamonds to the international market. The Company’s portfolio incorporates interests in two underground mines in South Africa (Cullinan and Finsch Mines) and one open pit mine in Tanzania (Williamson). In January 2025, Petra announced that it has entered into an agreement to sell its entire shareholding in the entity that holds Petra’s interest in Williamson.

Petra’s strategy is to focus on value rather than volume production by optimising recoveries from its high-quality asset base in order to maximise their efficiency and profitability.