Petra Diamonds (LON:PDL) Shares Up 20% – Time to Buy?

Petra Diamonds Limited (LON:PDL) shares shot up 20% during mid-day trading on Monday . The company traded as high as GBX 8 and last traded at GBX 7.80. Approximately 464,682 shares changed hands during mid-day trading, an increase of 117% from the average daily volume of 214,606 shares. The stock had previously closed at GBX 6.50.

Petra Diamonds Price Performance

The company has a 50-day moving average of GBX 13.61 and a 200 day moving average of GBX 15.89. The company has a debt-to-equity ratio of -3,777.78, a quick ratio of 3.52 and a current ratio of 1.67. The firm has a market cap of £25.16 million, a P/E ratio of -0.09, a P/E/G ratio of 0.17 and a beta of 1.45.

Petra Diamonds Company Profile

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.