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Pin to quick picksPetra Diamonds Share News (PDL)

Share Price Information for Petra Diamonds (PDL)

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Share Price: 41.90
Bid: 0.00
Ask: 58.00
Change: 0.00 (0.00%)
Spread: 17.00 (41.463%)
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SMALL-CAP WINNERS & LOSERS: Petrofac rises further; Petra shines

Fri, 08th Dec 2023 10:14

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

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SMALL-CAP - WINNERS

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Petrofac Ltd, up 12% at 22.04 pence, 12-month range 14.58p-91.05p. The provider of services to the energy industry extends recent gains, rising 42% since the start of the week. It said Monday it is mulling a "range of strategic and financial options" to strengthen its balance sheet, as it warned it would not meet its annual cash flow guidance following payment delays.

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Petra Diamonds Ltd, up 2.0% at 51p, 12month range 387p-104p. The Southern Africa-focused diamond miner and supplier said South African firm Absa Bank, which is part of Absa Group Ltd, has approved the increase to its revolving credit facility to USD93 million from USD53 million. It also reports growth in diamond sales in its most recent tender. Says 462,794 carats sold in tender 3 of the financial year ending June 30 for a total of USD58.7 million, representing a 4.2% increase from 444,029 carats sold in tender 2 for USD40.5 million. Meanwhile, the price was up by 20% on a like-for-like basis.

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SMALL-CAP - LOSERS

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MJ Gleeson PLC, down 1.3% at 437.25p, 12-month range 331p-475p. The housebuilder and land investor's price target is cut to 550p from 575p previously by the Royal Bank of Canada, though the bank maintains its 'outperform' rating for the stock.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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