BMO Capital Thinks Lucara Diamond’s Stock is Going to Recover

By Austin Angelo

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Lucara Diamond (TSX: LUC) received a Buy rating from BMO Capital’s analyst David Gagliano, with a C$3.50 price target.

According to TipRanks.com, Gagliano is a 4-star analyst with an average return of 4.2% and a 51.5% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Stillwater Mining Company.

Lucara Diamond has an analyst consensus of Moderate Buy, with a price target consensus of C$3.23.

The company has a one year high of C$4.39 and a one year low of C$2.62. Currently, Lucara Diamond has an average volume of 303.8K.

Lucara Diamond Corp. is a diamond development company focused in Africa. The company’s business consists of acquisition, exploration, development and operation of diamond properties. It has two assets: Karowe mine in Botswana and the Mothae project in Lesotho. Lucara Diamond was founded on July 31, 1981 and is headquartered in Vancouver, Canada.

The company’s shares closed on Wednesday at $2.77, close to its 52-week high of $4.39.