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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Petra Diamonds Limited    PDL   BMG702781094

PETRA DIAMONDS LIMITED

(PDL)
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Stronger diamond prices lift Petra Diamonds' Q1 revenue

10/27/2020 | 02:38am EST
FILE PHOTO: A visitor holds a 17 carat diamond at a Petra Diamonds mine in Cullinan

JOHANNESBURG (Reuters) - Petra Diamonds' first-quarter revenue climbed 33% year on year helped by inventory sales and a 21% increase in diamond prices since the start of the coronavirus pandemic, the miner said on Tuesday.

Petra, which mines diamonds in South Africa and Tanzania, said revenue for the quarter to Sept 30 was $82 million.

Production fell 10% year on year to 974,346 carats due to the ongoing closure of the Williamson mine in Tanzania, which Petra shuttered in April. Its reopening is contingent on stronger diamond prices and market conditions, Petra said.

The miner kept production guidance for the full-year 2021 suspended.

"While the mines are generally operating at planned levels, there remain risks to production relating to the impact of the stringent COVID-19 measures in place," Petra said.

Although diamond prices have improved since March, they are still down around 10% compared with pre-COVID-19 levels, the company said.

The economic fallout of the pandemic has dealt a heavy blow to the diamond industry which relies on consumer demand for luxury jewellery.

Petra last week announced a debt restructuring agreement including a debt-for-equity swap which would leave noteholders with a combined 91% of the shares and dilute existing shareholders to just 9%.

(Reporting by Helen Reid; editing by Jason Neely, Kirsten Donovan)


© Reuters 2020
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Financials (USD)
Sales 2021 403 M - -
Net income 2021 -32,4 M - -
Net Debt 2021 539 M - -
P/E ratio 2021 -0,48x
Yield 2021 -
Capitalization 19,4 M 19,4 M -
EV / Sales 2021 1,38x
EV / Sales 2022 1,13x
Nbr of Employees 3 696
Free-Float 81,6%
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Technical analysis trends PETRA DIAMONDS LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 0,05 $
Last Close Price 0,02 $
Spread / Highest target 470%
Spread / Average Target 112%
Spread / Lowest Target -42,1%
EPS Revisions
Managers and Directors
NameTitle
Richard N. Duffy Chief Executive Officer & Executive Director
Peter J. Hill Non-Executive Chairman
Jacques Breytenbach CFO, Finance Director & Executive Director
Alexander Gordon Kelso Hamilton Independent Non-Executive Director
Octavia Matshidiso Matloa Independent Non-Executive Director
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