Scotiabank Reiterates Buy Rating for Lucara Diamond (LUC)

Scotiabank reaffirmed their buy rating on shares of Lucara Diamond (TSE:LUC) in a research note published on Thursday, reports. They currently have a C$2.25 price target on the stock, up from their prior price target of C$1.83.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity dropped their price objective on shares of Lucara Diamond from C$2.40 to C$2.15 in a report on Tuesday, March 12th. Berenberg Bank dropped their price objective on shares of Lucara Diamond from C$1.60 to C$1.50 in a report on Wednesday, March 27th.

TSE LUC opened at C$1.51 on Thursday. Lucara Diamond has a 52-week low of C$1.38 and a 52-week high of C$2.39. The company has a quick ratio of 0.96, a current ratio of 2.38 and a debt-to-equity ratio of 4.18. The firm has a market cap of $599.26 million and a PE ratio of 22.88.

Lucara Diamond (TSE:LUC) last posted its quarterly earnings data on Thursday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$53.66 million for the quarter. On average, equities analysts expect that Lucara Diamond will post 0.0900000063870972 EPS for the current year.

In other Lucara Diamond news, Director Richard Peter Clark purchased 24,100 shares of the stock in a transaction on Thursday, February 28th. The stock was acquired at an average cost of C$1.67 per share, with a total value of C$40,247.00. Following the completion of the purchase, the director now directly owns 124,100 shares of the company’s stock, valued at approximately C$207,247.

About Lucara Diamond

Lucara Diamond Corp., a diamond mining company, engages in the acquisition, exploration, development, and operation of diamond properties in Africa. The company operates in two segments, Karowe Mine, and Corporate and Other. It holds 100% interests in the Karowe mine, as well as two prospecting licenses located in Botswana.

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