Dominion Diamond Corp. (DDC) Receives Sector Perform Rating from RBC Capital Markets
Other analysts have also recently issued research reports about the stock. BMO Capital Markets reiterated a buy rating and issued a $22.00 price objective on shares of Dominion Diamond Corp. in a research note on Friday, June 10th. Zacks Investment Research upgraded shares of Dominion Diamond Corp. from a sell rating to a hold rating in a research note on Tuesday, June 14th. Barclays PLC upgraded shares of Dominion Diamond Corp. from an equal weight rating to an overweight rating and set a $11.40 price objective for the company in a research note on Wednesday, September 21st. Royal Bank Of Canada cut shares of Dominion Diamond Corp. from an outperform rating to a sector perform rating and reduced their price objective for the company from $13.00 to $11.00 in a research note on Monday, June 13th. Finally, TheStreet cut shares of Dominion Diamond Corp. from a hold rating to a sell rating in a research note on Wednesday, September 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $14.13.
Dominion Diamond Corp. (NYSE:DDC) opened at 9.74 on Friday. The firm has a 50-day moving average of $8.94 and a 200 day moving average of $9.99. Dominion Diamond Corp. has a 12-month low of $7.27 and a 12-month high of $12.65. The firm’s market capitalization is $826.39 million.
Dominion Diamond Corp. (NYSE:DDC) last released its earnings results on Thursday, September 8th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.33. Dominion Diamond Corp. had a negative return on equity of 1.08% and a negative net margin of 9.79%. The firm earned $160 million during the quarter, compared to analyst estimates of $196.50 million. During the same quarter last year, the business posted ($0.21) EPS. The firm’s revenue was down 23.7% on a year-over-year basis. On average, equities analysts predict that Dominion Diamond Corp. will post $0.24 EPS for the current year.
The company also recently declared a semiannual dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, October 6th. This represents a dividend yield of 4.77%. Dominion Diamond Corp.’s dividend payout ratio (DPR) is presently -52.63%.
Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of Dominion Diamond Corp. by 230.2% in the first quarter. Royal Bank of Canada now owns 3,506,753 shares of the company’s stock worth $38,890,000 after buying an additional 2,444,671 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Dominion Diamond Corp. by 141.3% in the first quarter. Goldman Sachs Group Inc. now owns 214,382 shares of the company’s stock worth $2,378,000 after buying an additional 125,555 shares during the period. Spark Investment Management LLC purchased a new stake in shares of Dominion Diamond Corp. during the first quarter worth approximately $420,000. TD Asset Management Inc. increased its stake in shares of Dominion Diamond Corp. by 44.6% in the second quarter. TD Asset Management Inc. now owns 2,144,069 shares of the company’s stock worth $18,870,000 after buying an additional 660,986 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Dominion Diamond Corp. during the first quarter worth approximately $835,000. Institutional investors and hedge funds own 38.22% of the company’s stock.
About Dominion Diamond Corp.
Dominion Diamond Corporation is a diamond mining company. The Company is focused on the mining and marketing of rough diamonds to the global market. The Company’s segments include the Ekati Diamond Mine, the Diavik Diamond Mine and the Corporate segment. It supplies rough diamonds to the global market from its operation of the Ekati Diamond Mine (in which it owns a controlling interest) and its approximately 40% ownership interest in the Diavik Diamond Mine.
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