Dominion Diamond Corp. (DDC) Raised to Overweight at Barclays PLC
Dominion Diamond Corp. (NYSE:DDC) was upgraded by equities research analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday.
Several other analysts have also recently commented on the stock. RBC Capital Markets reissued a “sector perform” rating on shares of Dominion Diamond Corp. in a research note on Friday, September 16th. TheStreet cut shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. BMO Capital Markets reissued an “outperform” rating and set a $18.00 price target (down from $22.00) on shares of Dominion Diamond Corp. in a research note on Wednesday, August 24th. Zacks Investment Research upgraded shares of Dominion Diamond Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, Royal Bank Of Canada lowered shares of Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $13.00 to $11.00 in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.78.
Dominion Diamond Corp. (NYSE:DDC) opened at 8.34 on Wednesday. The firm’s 50-day moving average is $8.89 and its 200 day moving average is $10.13. The stock’s market capitalization is $707.61 million. Dominion Diamond Corp. has a 52-week low of $7.27 and a 52-week high of $12.65.
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Dominion Diamond Corp. (NYSE:DDC) last issued its quarterly earnings data 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 the consensus estimate of $196.50 million. Dominion Diamond Corp. had a negative return on equity of 1.08% and a negative net margin of 9.79%. Dominion Diamond Corp.’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, equities analysts forecast that Dominion Diamond Corp. will post $0.18 earnings per share for the current year.
The company also recently announced a semiannual dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Tuesday, October 11th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a yield of 4.77%. Dominion Diamond Corp.’s dividend payout ratio (DPR) is presently -52.63%.
A number of large investors have recently bought and sold shares of DDC. Schonfeld Strategic Advisors LLC purchased a new stake in Dominion Diamond Corp. during the first quarter valued at $131,000. Paloma Partners Management Co purchased a new stake in Dominion Diamond Corp. during the second quarter valued at $109,000. Sterling Capital Management LLC purchased a new stake in Dominion Diamond Corp. during the second quarter valued at $118,000. Timber Hill LLC purchased a new stake in Dominion Diamond Corp. during the second quarter valued at $138,000. Finally, Legal & General Group Plc raised its stake in Dominion Diamond Corp. by 103.5% in the second quarter. Legal & General Group Plc now owns 16,848 shares of the company’s stock valued at $148,000 after buying an additional 8,568 shares during the period. Institutional investors own 38.00% of the company’s stock.
Dominion Diamond Corp. Company Profile
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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