Dominion Diamond Corporation (DDC) Rating Increased to Buy at BidaskClub
BidaskClub upgraded shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) from a hold rating to a buy rating in a research note issued to investors on Saturday.
Several other equities research analysts also recently issued reports on DDC. Royal Bank Of Canada raised their price target on Dominion Diamond Corporation from $10.00 to $12.00 and gave the company a sector perform rating in a report on Thursday, May 18th. Scotiabank raised their price target on Dominion Diamond Corporation from $14.00 to $14.50 and gave the company an outperform rating in a report on Thursday, June 1st. BMO Capital Markets downgraded Dominion Diamond Corporation from an outperform rating to a market perform rating in a report on Tuesday, July 18th. Gabelli downgraded Dominion Diamond Corporation from a buy rating to a hold rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. downgraded Dominion Diamond Corporation from a buy rating to a neutral rating and cut their price target for the company from $14.40 to $14.25 in a report on Wednesday, July 19th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $15.07.
Dominion Diamond Corporation (NYSE:DDC) opened at 14.05 on Friday. The company’s 50-day moving average is $13.57 and its 200-day moving average is $12.11. Dominion Diamond Corporation has a 12 month low of $7.92 and a 12 month high of $14.16. The company’s market cap is $1.13 billion.
Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last released its quarterly earnings data on Monday, June 12th. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. The company had revenue of $211 million during the quarter. Dominion Diamond Corporation had a positive return on equity of 1.46% and a negative net margin of 1.07%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. On average, equities research analysts anticipate that Dominion Diamond Corporation will post $0.93 earnings per share for the current year.
Dominion Diamond Corporation announced that its Board of Directors has initiated a stock repurchase plan on Monday, July 17th that allows the company to buyback shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Dominion Diamond Corporation by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 336,581 shares of the basic materials company’s stock valued at $3,258,000 after buying an additional 5,837 shares in the last quarter. Norges Bank purchased a new position in Dominion Diamond Corporation during the fourth quarter valued at $9,880,000. Bank of Montreal Can boosted its position in Dominion Diamond Corporation by 11.5% in the first quarter. Bank of Montreal Can now owns 311,259 shares of the basic materials company’s stock valued at $3,931,000 after buying an additional 32,165 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Dominion Diamond Corporation during the first quarter valued at $182,000. Finally, CWM LLC boosted its position in Dominion Diamond Corporation by 9.9% in the first quarter. CWM LLC now owns 103,487 shares of the basic materials company’s stock valued at $1,307,000 after buying an additional 9,336 shares during the last quarter. 57.91% of the stock is owned by institutional investors and hedge funds.
Dominion Diamond Corporation Company Profile
Dominion Diamond Corp 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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