BidaskClub downgraded shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) from a buy rating to a hold rating in a report released on Friday.

DDC has been the subject of a number of other research reports. Royal Bank Of Canada upped their price target on Dominion Diamond Corporation from $10.00 to $12.00 and gave the stock a sector perform rating in a report on Thursday, May 18th. Scotiabank upped their price target on Dominion Diamond Corporation from $14.00 to $14.50 and gave the stock an outperform rating in a report on Thursday, June 1st. Gabelli cut Dominion Diamond Corporation from a buy rating to a hold rating in a report on Tuesday, July 18th. BMO Capital Markets cut Dominion Diamond Corporation from an outperform rating to a market perform rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. cut Dominion Diamond Corporation from a buy rating to a neutral rating and reduced their price target for the stock from $14.40 to $14.25 in a report on Wednesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $15.07.

Shares of Dominion Diamond Corporation (DDC) opened at 14.08 on Friday. The stock’s market capitalization is $1.13 billion. Dominion Diamond Corporation has a 52-week low of $7.92 and a 52-week high of $14.16. The company’s 50 day moving average price is $13.70 and its 200 day moving average price is $12.17.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last released its quarterly earnings results on Monday, June 12th. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter 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 EPS for the current year.

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Dominion Diamond Corporation declared that its Board of Directors has approved a share repurchase plan on Monday, July 17th that permits the company to buyback shares. This buyback authorization permits the basic materials company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of Dominion Diamond Corporation during the first quarter worth approximately $112,000. Legal & General Group Plc boosted its position in shares of Dominion Diamond Corporation by 7.2% in the second quarter. Legal & General Group Plc now owns 8,874 shares of the basic materials company’s stock worth $112,000 after buying an additional 594 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Dominion Diamond Corporation by 57.6% in the second quarter. Tower Research Capital LLC TRC now owns 6,927 shares of the basic materials company’s stock worth $113,000 after buying an additional 2,533 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of Dominion Diamond Corporation by 142.6% in the second quarter. Scotia Capital Inc. now owns 11,512 shares of the basic materials company’s stock worth $144,000 after buying an additional 38,567 shares during the last quarter. Finally, Westpac Banking Corp purchased a new position in shares of Dominion Diamond Corporation during the second quarter worth approximately $149,000. 57.91% of the stock is owned by institutional investors and hedge funds.

About Dominion Diamond Corporation

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.

Analyst Recommendations for Dominion Diamond Corporation (NYSE:DDC)

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