Stornoway Diamond Co. (TSE:SWY)’s share price traded down 1.5% during mid-day trading on Thursday . The stock traded as low as C$0.68 and last traded at C$0.69. 225,882 shares traded hands during trading, a decline of 51% from the average session volume of 457,243 shares. The stock had previously closed at C$0.68.

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada downgraded shares of Stornoway Diamond from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from C$0.90 to C$0.60 in a report on Thursday, October 12th. TD Securities cut their price objective on shares of Stornoway Diamond from C$0.85 to C$0.80 and set a “hold” rating on the stock in a report on Monday, November 6th. Finally, BMO Capital Markets cut their price objective on shares of Stornoway Diamond from C$1.25 to C$0.80 and set a “market perform” rating on the stock in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of C$1.01.

In related news, Director Patrick Godin acquired 61,500 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were purchased at an average price of C$0.70 per share, for a total transaction of C$43,050.00. In the last 90 days, insiders have bought 91,500 shares of company stock worth $62,450.

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Stornoway Diamond Company Profile

Stornoway Diamond Corp is a Canada-based diamond exploration and development company. The Company is principally engaged in the acquisition, exploration and development of diamond properties. The Company’s principal focus is its Renard Diamond Project located in north-central Quebec, a project in construction.

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