OP-ED Don't give up on the diamond industry just yet

摘要

If diamond miner equities are a proxy, the sentiment surrounding the diamond industry is now at historically low levels. Just in the last two years, a basket of diamond-producer stocks was down 28.9% in 2018, after a 17.3% decline in 2017 (see Figure 1). This is in part due to idiosyncratic operational challenges that most all of the miners are dealing with in one way or another. However, investor sentiment is also undeniably low, by valuation standards projected by future diamond-price expectations.