Lucara Diamond (TSE:LUC) Trading Up 14.5% – Time to Buy?

Lucara Diamond Corp. (TSE:LUC)’s share price rose 14.5% during mid-day trading on Wednesday . The company traded as high as C$0.41 and last traded at C$0.40. Approximately 63,870 shares changed hands during mid-day trading, an increase of 68% from the average daily volume of 38,076 shares. The stock had previously closed at C$0.35.

Analysts Set New Price Targets

Separately, BMO Capital Markets decreased their target price on shares of Lucara Diamond from C$0.60 to C$0.50 in a research report on Friday, November 15th.

Lucara Diamond Trading Up 13.0 %

The firm has a market cap of C$179.60 million, a price-to-earnings ratio of -5.57, a PEG ratio of -0.81 and a beta of 1.38. The company has a fifty day moving average price of C$0.44 and a 200-day moving average price of C$0.44. The company has a current ratio of 1.37, a quick ratio of 1.42 and a debt-to-equity ratio of 87.66.

Lucara Diamond Company Profile

Lucara Diamond Corp., a diamond mining company, engages in the development and operation of diamond properties in Africa. The company holds 100% interests in the Karowe mine located in Botswana. It also operates Clara Platform, a digital sales platform for rough diamonds. The company was formerly known as Bannockburn Resources Limited and changed its name to Lucara Diamond Corp.