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Petra Diamonds – a beaten-up share, though still a sell?

By ShareProphets | Tuesday 16 July 2024


Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Diamond miner Petra Diamonds (PDL) has issued a “Q4 and FY 2024 Operating Update” including noting some recent net debt reduction and that it is looking forward to addressing the challenges ahead from a position of strength. However, it also notes now continuing diamond market weakness and Lucian Miers recently noted its management has been consistently over-optimistic in its assumptions and…
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