Firestone Diamonds (FDI) Hits New 1-Year Low at $9.00

Firestone Diamonds PLC (LON:FDI) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 9 ($0.12) and last traded at GBX 9.35 ($0.13), with a volume of 99996 shares changing hands. The stock had previously closed at GBX 9.35 ($0.13).

FDI has been the topic of a number of research analyst reports. Macquarie reaffirmed an “outperform” rating and issued a GBX 55 ($0.75) target price on shares of Firestone Diamonds in a report on Tuesday, October 10th. Royal Bank of Canada cut shares of Firestone Diamonds to a “sector performer” rating and dropped their target price for the company from GBX 46 ($0.62) to GBX 19 ($0.26) in a report on Thursday, October 12th. Canaccord Genuity initiated coverage on shares of Firestone Diamonds in a report on Monday. They issued a “speculative buy” rating and a GBX 20 ($0.27) target price on the stock. Finally, FinnCap reaffirmed an “under review” rating on shares of Firestone Diamonds in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 38.33 ($0.52).

The stock has a market cap of $10.38 and a price-to-earnings ratio of -34.63.

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About Firestone Diamonds

Firestone Diamonds plc is a United Kingdom-based company, which is engaged in diamond mining, exploration and development in southern Africa. The Company focuses on two principal geographic areas: Lesotho and Botswana. The Company’s segments include Lesotho, Botswana, and United Kingdom and other. The Company has two mines, Liqhobong in Lesotho where construction of the Liqhobong Mine Development Project is nearing completion and BK11 in Botswana, which remains on care and maintenance.

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