BidaskClub upgraded shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) from a hold rating to a buy rating in a research report report published on Monday, July 24th.
A number of other brokerages have also recently issued reports on DDC. Royal Bank Of Canada lifted their price target on shares of Dominion Diamond Corporation from $10.00 to $12.00 and gave the company a sector perform rating in a research report on Thursday, May 18th. Scotiabank lifted their price target on shares of Dominion Diamond Corporation from $14.00 to $14.50 and gave the company an outperform rating in a research report on Thursday, June 1st. BMO Capital Markets lowered shares of Dominion Diamond Corporation from an outperform rating to a market perform rating in a research note on Tuesday, July 18th. Gabelli lowered shares of Dominion Diamond Corporation from a buy rating to a hold rating in a research note on Tuesday, July 18th. Finally, Citigroup Inc. lowered shares of Dominion Diamond Corporation from a buy rating to a neutral rating and reduced their price objective for the company from $14.40 to $14.25 in a research note on Wednesday, July 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $15.07.
Dominion Diamond Corporation (DDC) traded up 0.07% during midday trading on Monday, hitting $14.09. 1,470,742 shares of the stock traded hands. Dominion Diamond Corporation has a 52 week low of $7.92 and a 52 week high of $14.16. The stock’s 50-day moving average price is $13.49 and its 200-day moving average price is $12.04. The stock’s market capitalization is $1.14 billion.
Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last issued its quarterly earnings results on Monday, June 12th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. Dominion Diamond Corporation had a negative net margin of 1.07% and a positive return on equity of 1.46%. The company had revenue of $211 million during the quarter. During the same period last year, the business earned ($0.01) earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. Equities research analysts expect that Dominion Diamond Corporation will post $0.93 EPS for the current fiscal year.
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Dominion Diamond Corporation announced that its Board of Directors has approved a share repurchase program 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 programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in the company. PSquared Asset Management AG bought a new stake in shares of Dominion Diamond Corporation during the second quarter worth approximately $34,907,000. Norges Bank bought a new stake in shares of Dominion Diamond Corporation during the fourth quarter worth approximately $9,880,000. Marshall Wace LLP bought a new stake in shares of Dominion Diamond Corporation during the second quarter worth approximately $9,804,000. K2 Principal Fund L.P. raised 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 worth $41,344,000 after buying an additional 703,183 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Dominion Diamond Corporation by 352.5% in the first quarter. Credit Suisse AG now owns 460,192 shares of the basic materials company’s stock worth $5,812,000 after buying an additional 358,492 shares in the last quarter. Hedge funds and other institutional investors own 56.61% of the company’s stock.
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.
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