Dominion Diamond Corp. (DDC) Stock Price Up 2.6%
Dominion Diamond Corp. (NYSE:DDC)’s share price rose 2.6% during trading on Tuesday . The company traded as high as $8.47 and last traded at $8.37, with a volume of 269,382 shares. The stock had previously closed at $8.16.
DDC has been the subject of a number of recent research reports. BMO Capital Markets restated a “buy” rating and set a $22.00 price objective on shares of Dominion Diamond Corp. in a research note on Monday, July 18th. TheStreet downgraded shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. RBC Capital Markets reiterated a “sector perform” rating on shares of Dominion Diamond Corp. in a research note on Friday. Zacks Investment Research upgraded shares of Dominion Diamond Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Finally, Royal Bank Of Canada downgraded shares of Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $13.00 to $11.00 in a research note on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.78.
The stock has a 50 day moving average of $8.89 and a 200 day moving average of $10.13. The company’s market capitalization is $707.61 million.
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Dominion Diamond Corp. (NYSE:DDC) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.33. The firm had revenue of $160 million for the quarter, compared to analysts’ expectations of $196.50 million. Dominion Diamond Corp. had a negative net margin of 9.79% and a negative return on equity of 1.08%. The company’s quarterly revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. Analysts anticipate that Dominion Diamond Corp. will post $0.18 EPS for the current fiscal year.
The business also recently announced a semiannual dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th will be given a $0.20 dividend. The ex-dividend date is Thursday, October 6th. This represents a dividend yield of 4.77%. Dominion Diamond Corp.’s dividend payout ratio is -52.63%.
Several large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Dominion Diamond Corp. by 14.4% in the second quarter. Royal Bank of Canada now owns 4,012,273 shares of the company’s stock valued at $35,469,000 after buying an additional 505,520 shares in the last quarter. TD Asset Management Inc. boosted its stake in Dominion Diamond Corp. by 44.6% in the second quarter. TD Asset Management Inc. now owns 2,144,069 shares of the company’s stock valued at $18,870,000 after buying an additional 660,986 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Dominion Diamond Corp. by 45.9% in the second quarter. Neuberger Berman Group LLC now owns 2,108,972 shares of the company’s stock valued at $18,643,000 after buying an additional 662,988 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Dominion Diamond Corp. by 8.4% in the first quarter. Renaissance Technologies LLC now owns 2,084,398 shares of the company’s stock valued at $23,117,000 after buying an additional 161,900 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Dominion Diamond Corp. by 17.3% in the second quarter. Vanguard Group Inc. now owns 1,455,135 shares of the company’s stock valued at $12,864,000 after buying an additional 214,625 shares in the last quarter. 38.88% of the stock is owned by hedge funds and other institutional investors.
About Dominion Diamond Corp.
Dominion Diamond Corporation 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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