Dominion Diamond Corp. (DDC) Stock Rating Reaffirmed by RBC Capital Markets
Dominion Diamond Corp. (NYSE:DDC) (TSE:DDC)‘s stock had its “sector perform” rating reaffirmed by RBC Capital Markets in a research report issued to clients and investors on Monday.
DDC has been the topic of a number of other research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $18.00 price target (down previously from $22.00) on shares of Dominion Diamond Corp. in a report on Wednesday, August 24th. Zacks Investment Research downgraded shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a report on Friday, September 23rd. TheStreet downgraded shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Scotiabank reaffirmed an “outperform” rating and set a $14.00 price target on shares of Dominion Diamond Corp. in a report on Sunday, October 23rd. Finally, Barclays PLC raised shares of Dominion Diamond Corp. from an “equal weight” rating to an “overweight” rating and set a $11.40 price target on the stock in a report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.60.
Dominion Diamond Corp. (NYSE:DDC) opened at 8.72 on Monday. The company’s 50-day moving average is $8.75 and its 200 day moving average is $9.24. Dominion Diamond Corp. has a 52 week low of $7.27 and a 52 week high of $12.65. The stock’s market cap is $739.85 million.
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 Thomson Reuters’ consensus estimate of ($0.06) by $0.33. Dominion Diamond Corp. had a negative net margin of 9.79% and a negative return on equity of 1.08%. The firm had revenue of $160 million for the quarter, compared to analysts’ expectations of $196.50 million. During the same period last year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, analysts expect that Dominion Diamond Corp. will post $0.39 earnings per share for the current fiscal year.
The firm 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 (DPR) is presently -52.63%.
Several institutional investors have recently modified their holdings of the company. Paloma Partners Management Co acquired a new position in shares of Dominion Diamond Corp. during the second quarter valued at $109,000. Stanley Laman Group Ltd. acquired a new position in shares of Dominion Diamond Corp. during the third quarter valued at $111,000. Sterling Capital Management LLC acquired a new position in shares of Dominion Diamond Corp. during the second quarter valued at $118,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Dominion Diamond Corp. during the first quarter valued at $131,000. Finally, Timber Hill LLC acquired a new position in shares of Dominion Diamond Corp. during the second quarter valued at $138,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.
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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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