Stornoway Diamond Co. (TSE:SWY) shares fell 0% during trading on Friday after TD Securities lowered their price target on the stock from C$0.80 to C$0.75. TD Securities currently has a hold rating on the stock. Stornoway Diamond traded as low as C$0.64 and last traded at C$0.65. 86,471 shares traded hands during trading, a decline of 46% from the average session volume of 159,355 shares. The stock had previously closed at C$0.65.

A number of other research analysts have also recently commented on the stock. BMO Capital Markets reduced their price target on shares of Stornoway Diamond from C$1.25 to C$0.80 and set a “market perform” rating on the stock in a research report on Wednesday, October 25th. Royal Bank of Canada lowered Stornoway Diamond from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from C$0.90 to C$0.60 in a research note on Thursday, October 12th. One equities 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$1.00.

In related news, Director Patrick Godin acquired 61,500 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average price of C$0.70 per share, with a total value of C$43,050.00. In the last three months, insiders have bought 91,500 shares of company stock valued at $62,450.

The firm has a market capitalization of $517.86, a P/E ratio of 10.33 and a beta of 1.19.

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About Stornoway Diamond

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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