Dominion Diamond Corp. (DDC) Lifted to “Hold” at Zacks Investment Research
Dominion Diamond Corp. (NYSE:DDC) (TSE:DDC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Dominion Diamond Corporation is engaged in mining and marketing of rough diamonds. It also undertakes rough diamond sorting and sales operations in Canada, Belgium and India. The company sources diamonds from mines in Canada’s Northwest Territories. Dominion Diamond Corporation, formerly known as Harry Winston Diamond Corporation, is based in Toronto, Canada. “
A number of other analysts have also issued reports on DDC. BMO Capital Markets reissued an “outperform” rating and issued a $18.00 price target (down from $22.00) on shares of Dominion Diamond Corp. in a research note on Wednesday, August 24th. TheStreet lowered Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. RBC Capital Markets reissued a “sector perform” rating on shares of Dominion Diamond Corp. in a research note on Friday, September 16th. Barclays PLC raised Dominion Diamond Corp. from an “equal weight” rating to an “overweight” rating and set a $11.40 price target on the stock in a research note on Wednesday, September 21st. Finally, Scotiabank reissued an “outperform” rating and issued a $14.00 price target on shares of Dominion Diamond Corp. in a research note on Sunday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.60.
Dominion Diamond Corp. (NYSE:DDC) traded down 1.58% during trading on Tuesday, hitting $8.72. 236,258 shares of the stock traded hands. Dominion Diamond Corp. has a 12 month low of $7.27 and a 12 month high of $12.65. The firm’s 50-day moving average is $8.77 and its 200-day moving average is $9.26. The stock’s market cap is $739.85 million.
Dominion Diamond Corp. (NYSE:DDC) last posted its quarterly earnings data on Thursday, September 8th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.33. The company had revenue of $160 million for 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%. The firm’s revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. On average, analysts forecast that Dominion Diamond Corp. will post $0.39 EPS for the current year.
The company also recently disclosed a semiannual dividend, which was paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th were paid a $0.20 dividend. This represents a dividend yield of 4.77%. The ex-dividend date was Thursday, October 6th. Dominion Diamond Corp.’s dividend payout ratio is currently -52.63%.
Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in 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 valued at $38,890,000 after buying an additional 2,444,671 shares in the last quarter. 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 valued at $2,378,000 after buying an additional 125,555 shares during the last quarter. Mckinley Capital Management LLC Delaware increased its stake in shares of Dominion Diamond Corp. by 4.2% in the second quarter. Mckinley Capital Management LLC Delaware now owns 75,380 shares of the company’s stock valued at $666,000 after buying an additional 3,063 shares during the last quarter. 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 valued at $18,870,000 after buying an additional 660,986 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Dominion Diamond Corp. by 46.2% in the second quarter. Boston Partners now owns 267,996 shares of the company’s stock valued at $2,369,000 after buying an additional 84,703 shares during the last quarter. 41.09% of the stock is currently owned by institutional investors and hedge funds.
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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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