Royal Bank of Canada decreased its holdings in shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,255,118 shares of the basic materials company’s stock after selling 271,937 shares during the quarter. Royal Bank of Canada owned about 2.80% of Dominion Diamond Corporation worth $28,325,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GLG Partners LP grew its stake in shares of Dominion Diamond Corporation by 160.8% in the second quarter. GLG Partners LP now owns 992,918 shares of the basic materials company’s stock valued at $12,474,000 after buying an additional 612,225 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Dominion Diamond Corporation by 2.6% in the second quarter. Goldman Sachs Group Inc. now owns 98,472 shares of the basic materials company’s stock valued at $1,237,000 after buying an additional 2,534 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Dominion Diamond Corporation by 0.8% in the second quarter. Renaissance Technologies LLC now owns 2,673,198 shares of the basic materials company’s stock valued at $33,575,000 after buying an additional 21,800 shares in the last quarter. Harvest Management LLC grew its stake in shares of Dominion Diamond Corporation by 90.0% in the second quarter. Harvest Management LLC now owns 95,000 shares of the basic materials company’s stock valued at $1,196,000 after buying an additional 45,000 shares in the last quarter. Finally, K2 Principal Fund L.P. grew its stake in shares of Dominion Diamond Corporation by 27.2% in the second quarter. K2 Principal Fund L.P. now owns 3,291,733 shares of the basic materials company’s stock valued at $41,344,000 after buying an additional 703,183 shares in the last quarter. 59.36% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the company. Scotiabank cut Dominion Diamond Corporation from a “sector perform” rating to a “tender” rating and set a $14.25 price objective for the company. in a research note on Thursday, September 14th. BidaskClub cut Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Royal Bank Of Canada lifted their price objective on Dominion Diamond Corporation from $13.00 to $14.25 and gave the company a “sector perform” rating in a research note on Wednesday, July 19th. Citigroup Inc. cut Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $14.40 to $14.25 in a research note on Wednesday, July 19th. Finally, Gabelli cut Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Dominion Diamond Corporation currently has an average rating of “Hold” and a consensus price target of $15.75.

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Dominion Diamond Corporation (NYSE:DDC) opened at 14.20 on Monday. Dominion Diamond Corporation has a 12-month low of $8.29 and a 12-month high of $14.23. The company has a 50-day moving average price of $14.16 and a 200-day moving average price of $13.31. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 20.46 and a beta of 0.44.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings results on Wednesday, September 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Dominion Diamond Corporation had a net margin of 8.54% and a return on equity of 3.36%. The company had revenue of $239.78 million during the quarter. On average, equities research analysts forecast that Dominion Diamond Corporation will post $1.17 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 authorizes the company to repurchase shares. This repurchase authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Dominion Diamond Corporation 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.

Institutional Ownership by Quarter for Dominion Diamond Corporation (NYSE:DDC)

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