Petra Diamonds (LON:PDL) Shares Up 31.2% – Still a Buy?

Petra Diamonds Limited (LON:PDL) shares shot up 31.2% during mid-day trading on Wednesday. The stock traded as high as GBX 3.91 and last traded at GBX 3.91. 1,431,961 shares were traded during mid-day trading, an increase of 523% from the average daily volume of 229,781 shares. The stock had previously closed at GBX 2.98.

Petra Diamonds Stock Down 2.6%

The firm has a fifty day moving average price of GBX 5.98 and a 200 day moving average price of GBX 10.05. 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 company has a market cap of £13.48 million, a P/E ratio of -0.04, a PEG ratio of 0.17 and a beta of 1.45.

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.