Lucara Diamond (LUC) Stock Rating Reaffirmed by Berenberg Bank

Berenberg Bank reissued their sell rating on shares of Lucara Diamond (TSE:LUC) in a research note published on Thursday, September 20th. The brokerage currently has a C$1.80 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets lowered their price target on Lucara Diamond from C$3.50 to C$2.75 in a report on Thursday, August 23rd. Canaccord Genuity restated a buy rating and issued a C$2.45 price target on shares of Lucara Diamond in a report on Thursday, July 5th.

Shares of LUC stock traded up C$0.04 during trading hours on Thursday, reaching C$2.19. 496,000 shares of the company’s stock were exchanged, compared to its average volume of 410,567. Lucara Diamond has a 1 year low of C$1.97 and a 1 year high of C$2.91.

Lucara Diamond (TSE:LUC) last issued its earnings results on Wednesday, August 8th. The company reported C$0.06 earnings per share (EPS) for the quarter. The business had revenue of C$83.30 million during the quarter. Lucara Diamond had a return on equity of 55.25% and a net margin of 42.23%.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, September 20th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Thursday, September 6th.

About Lucara Diamond

Lucara Diamond Corp., a diamond mining company, engages in the acquisition, exploration, development, and operation of diamond properties in Africa. It holds 100% interests in the Karowe mine covering an area of 15.3 km2, as well as three prospecting licenses located in Botswana. The company was formerly known as Bannockburn Resources Limited and changed its name to Lucara Diamond Corp.

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