Dominion Diamond Corp. (DDC) Sees Significant Drop in Short Interest
Dominion Diamond Corp. (NYSE:DDC) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 436,040 shares, a decline of 40.2% from the August 31st total of 728,588 shares. Based on an average daily trading volume, of 633,905 shares, the short-interest ratio is currently 0.7 days. Currently, 0.5% of the shares of the stock are sold short.
Dominion Diamond Corp. (NYSE:DDC) opened at 9.52 on Tuesday. The firm’s market capitalization is $807.72 million. The company has a 50-day moving average price of $8.95 and a 200-day moving average price of $9.95. Dominion Diamond Corp. has a 12-month low of $7.27 and a 12-month high of $12.65.
Dominion Diamond Corp. (NYSE:DDC) last announced its quarterly earnings data on Thursday, September 8th. The company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.33. The firm earned $160 million during the quarter, compared to analyst estimates of $196.50 million. Dominion Diamond Corp. had a negative net margin of 9.79% and a negative return on equity of 1.08%. Dominion Diamond Corp.’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, analysts predict that Dominion Diamond Corp. will post $0.24 earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, November 3rd. Investors of record on Tuesday, October 11th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a yield of 4.77%. Dominion Diamond Corp.’s payout ratio is currently -52.63%.
A number of large investors have recently made changes to their positions in the stock. Palo Capital Inc. increased its stake in shares of Dominion Diamond Corp. by 117.3% in the second quarter. Palo Capital Inc. now owns 35,654 shares of the company’s stock worth $316,000 after buying an additional 19,247 shares during the last quarter. 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 last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Dominion Diamond Corp. during the first quarter worth approximately $131,000. Renaissance Technologies LLC increased its stake in shares of Dominion Diamond Corp. by 8.4% in the first quarter. Renaissance Technologies LLC now owns 2,084,398 shares of the company’s stock worth $23,117,000 after buying an additional 161,900 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Dominion Diamond Corp. by 192.9% in the first quarter. Geode Capital Management LLC now owns 47,280 shares of the company’s stock worth $524,000 after buying an additional 31,138 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.
Several research firms have commented on DDC. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price objective (down from $22.00) on shares of Dominion Diamond Corp. in a research note on Wednesday, August 24th. Zacks Investment Research lowered Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Friday, September 23rd. Barclays PLC upgraded 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. TheStreet lowered Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Finally, RBC Capital Markets reiterated a “sector perform” rating on shares of Dominion Diamond Corp. in a research note on Friday. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Dominion Diamond Corp. has an average rating of “Hold” and an average target price of $14.13.
Dominion Diamond Corp. Company Profile
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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