Petra Diamonds Ltd (PDL.L)
21 Feb 2019
African miner Petra Diamonds named a new chief executive on Monday as it works to cut debt and generate free cash flow after first-half core earnings were hit by lower diamond prices.
* Aims for net debt/EBITDA at 2 by mid 2020 from 3.3 (Adds CEO comments, share price, analysts)
Feb 18 Britain's blue-chip index inched lower and off its four-month high, as a weaker dollar weighed on exporter stocks while consumer goods giant Reckitt Benckiser jumped after forecast-beating sales growth.
Feb 18 Miner Petra Diamonds Ltd has appointed former AngloGold Ashanti finance director Richard Duffy as its new chief executive officer, the company said on Monday as it reported first-half adjusted core earnings of $75.6 million.
* Mine owned by Petra Diamonds may take 5-10 years to clear debt
Shares of Petra Diamonds Ltd slid as much as 10 percent on Monday after lower diamond prices at its flagship Cullinan mine and an increase in net debt took the shine off higher half-year revenue.
Jan 28 Shares of Petra Diamonds Ltd slid as much as 10 percent on Monday after lower diamond prices at its flagship Cullinan mine and an increase in net debt took the shine off higher half-year revenue.
Jan 28 Shares in Petra Diamonds Ltd slumped as much as 10 percent as lower diamond prices at its flagship Cullinan mine overshadowed an increase in half-year revenue.
* Adjusted EBITDA jumps in FY 2017 (Adds details, updates with comment, updates shares)
LONDON Petra Diamonds reported a 37 percent rise in full-year adjusted core earnings due to a rise in production at its continuing mines and said its chief executive would step down.
Earnings vs. Estimates
- Should you buy these FTSE 250 stocks following today's news?
- Are Lonmin Plc & Petra Diamonds Limited On The Way Back Up?
- Is Now The Perfect Time To Buy Petrofac Limited, Petroceltic International PLC And Petra Diamonds Limited?
- 3 Precious Investments: Xtract Resources PLC, Petra Diamonds Limited & Rare Earth Minerals PLC
- Should You Buy, Sell or Hold Petropavlovsk PLC, Petra Diamonds Limited And Centamin PLC?
- Can Premier Oil PLC, Petra Diamonds Limited & Intelligent Energy Holding PLC Go Any Lower?