Petra Diamonds share price slips as rare blue diamond from Cullinan mine sells for only $28 million September 16, 2014 Spending $28m (£17m) on this rare blue diamond was actually a bit of a bargain for one unknown buyer. The rare 122.52-carat blue diamond has been sold by Petra Diamonds.after being discovered in its Cullinan mine back in June when some predicted it could break the record price paid for a rough cut diamond. It might [...]
Best of the Brokers for 24 February 2015 February 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DECHRA PHARMACEUTICALS Numis has downgraded its recommendation for UK-based veterinary products manufacturer Dechra Pharmaceuticals from “add” to “hold”. Analyst Sally Taylor said: “While we believe the medium-term investment case remains fully intact, in light of strong recent share price outperformance we lower our [...]
Petra Diamonds’ share price plunges as investor dumps 43m shares July 29, 2014 Petra Diamonds’ share price plunged over 10 per cent in early trading yesterday, after major investor Awal Bank dumped 43m shares on the market at 190p per share – a 12 per cent discount to the price at Monday’s close. The placing leaves Awal Bank with 13.2m shares, which are subject to a 90-day lock-up. [...]
Best of the Brokers for 27 January 2015 January 26, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com IGAS Westhouse Securities has downgraded British oil and gas firm IGas from “buy” to “neutral”. Analyst Mark Henderson cited the “significant uncertainty” created by Lancashire Council’s decision to deny permission for Cuadrilla Resources’ two proposed shale gas wells, and the EAC recommendation to [...]
Petra’s revenue up 55 per cent on sale of rare diamond October 27, 2014 Petra Diamonds’s first quarter revenue jumped 55 per cent, boosted by the sale of a 122 carat blue diamond. Revenue jumped to $100.8m (£62.1m) in the first quarter, up from $65.1m for quarter one last year. Petra sold an 85 per cent interest in the rare diamond for $23.5m back in September. The revenue gain was [...]
Best of the Brokers for 21 September 2015 September 20, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HSBC is an attractive buy at the current price, analysts at Berenberg said. The recent sell-off in HSBC shares seems to be a case of Deja Vu, mirroring the events of 1997-8. HSBC underperformed European banks by 50 per cent over that period [...]
Petra sells rare blue diamond from Cullinan mine for $27.6m September 16, 2014 FTSE 250-listed Petra Diamonds yesterday announced it had sold a rare “exceptional” 122.52-carat blue diamond for $27.6m (£16.9m). However, the sale price fell short of many analysts’ expectations of around $35m, though some estimates had ranged from as low as $20m to as high as $50m. The 122-carat diamond was found in June at the [...]
UK growth lift as FTSE aims to test 7,000 level – London week ahead January 25, 2015 THE FIRST estimate of GDP growth in the fourth quarter of 2014 looks set to deliver good news this week, with growth of around 0.6 per cent on the previous quarter and 2.8 per cent year-on-year. Howard Archer, of IHS Global Insight, said: “Ongoing robust services expansion likely ensured that GDP growth held up pretty [...]
FTSE comes off recent gains as oil stocks hit – London Report February 4, 2015 THE FTSE 100 retreated from five-month highs yesterday as oil stocks slipped, while investment company Hargreaves Lansdown fell after its interim profits declined. The premier index closed down by 0.2 per cent at 6,860.02 points, after reaching its highest level since September on Tuesday. Hargreaves fell 7.6 per cent, the worst-performing FTSE 100 stock in [...]
Best of the Brokers for 29 October 2014 October 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com PETRA DIAMONDS Barclays Equity Research reiterated its “overweight” rating despite seasonally weak demand in the diamond industry. The broker maintained its 12-month price target of 290p for Petra and stated that it expected demand to firm up and management to maintain its price [...]