Stornoway Diamond (SWY) Shares Down 16.7%

Stornoway Diamond Co. (TSE:SWY) shares fell 16.7% during trading on Thursday . The stock traded as low as C$0.05 and last traded at C$0.05. 379,947 shares traded hands during trading, a decline of 57% from the average session volume of 887,003 shares. The stock had previously closed at C$0.06.

Several research firms have commented on SWY. BMO Capital Markets downgraded shares of Stornoway Diamond from a “market perform” rating to an “underperform” rating in a research note on Monday, April 1st. TD Securities decreased their price target on shares of Stornoway Diamond from C$0.30 to C$0.25 and set a “hold” rating on the stock in a research note on Monday, April 1st.

The company has a market capitalization of $55.47 million and a P/E ratio of -0.13. The company has a current ratio of 0.88, a quick ratio of 0.30 and a debt-to-equity ratio of 136.00.

Stornoway Diamond (TSE:SWY) last posted its quarterly earnings results on Thursday, March 28th. The company reported C($0.03) EPS for the quarter. The business had revenue of C$23.27 million for the quarter. As a group, analysts anticipate that Stornoway Diamond Co. will post -0.100000006666667 EPS for the current fiscal year.

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Stornoway Diamond Company Profile (TSE:SWY)

Stornoway Diamond Corporation engages in the mining, acquisition, and exploration of diamond properties in Canada. Its principal project is the Renard mine located in north-central Quebec. The company was founded in 1986 and is headquartered in Longueuil, Canada.

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