Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) had its target price upped by stock analysts at Royal Bank Of Canada from $13.00 to $14.25 in a research note issued on Wednesday, July 19th. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 1.28% from the company’s previous close.
A number of other research analysts have also recently issued reports on the stock. Gabelli initiated coverage on shares of Dominion Diamond Corporation in a report on Monday, April 3rd. They set a “buy” rating for the company. Scotiabank lifted their price objective on shares of 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 cut shares of Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. cut 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 report on Wednesday, July 19th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.07.
Shares of Dominion Diamond Corporation (NYSE:DDC) traded down 0.14% during midday trading on Wednesday, reaching $14.07. 681,860 shares of the company’s stock traded hands. The stock’s market cap is $1.13 billion. The stock has a 50 day moving average of $13.53 and a 200-day moving average of $12.09. Dominion Diamond Corporation has a 12 month low of $7.92 and a 12 month high of $14.16.
Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last issued its quarterly earnings data 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. The firm had revenue of $211 million during the quarter. Dominion Diamond Corporation had a negative net margin of 1.07% and a positive return on equity of 1.46%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts forecast that Dominion Diamond Corporation will post $0.93 EPS for the current fiscal year.
Dominion Diamond Corporation declared that its board has authorized a stock repurchase program on Monday, July 17th that permits the company to buyback outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in Dominion Diamond Corporation during the first quarter valued at $112,000. Legal & General Group Plc boosted its position in 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 valued at $112,000 after buying an additional 594 shares during the period. Westpac Banking Corp purchased a new position in Dominion Diamond Corporation during the second quarter valued at $149,000. Trexquant Investment LP purchased a new position in Dominion Diamond Corporation during the second quarter valued at $178,000. Finally, Fox Run Management L.L.C. purchased a new position in Dominion Diamond Corporation during the first quarter valued at $182,000. Institutional investors and hedge funds own 57.91% of the company’s stock.
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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