Lucara Diamond Receives a Hold from RBC Capital

By Austin Angelo

Wall Street analyst has provided a rating update for the Materials sector company on July 10, while remaining neutral on the stock. Analyst Richard Hatch from RBC Capital rated Lucara Diamond (TSX: LUC) a Hold on on July 10, setting a C$2.80 price target.

According to TipRanks.com, Hatch is a 4-star analyst with an average return of 27.1% and a 20.0% success rate. Hatch covers the Basic Materials sector, focusing on stocks such as Randgold Resources Limited, Stillwater Mining Company, and Anglogold Ashanti Ltd.

Lucara Diamond has an analyst consensus of Moderate Buy, with a price target consensus of C$3.15.

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 299K.

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 Tuesday at C$2.80, close to its 52-week high of C$4.39.