Dominion Diamond Corp. (DDC) Shares Gap Up to $8.34
Dominion Diamond Corp. (NYSE:DDC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.17, but opened at $8.34. Dominion Diamond Corp. shares last traded at $8.66, with a volume of 375,575 shares traded.
DDC has been the topic of a number of recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $22.00 target price on shares of Dominion Diamond Corp. in a report on Friday, June 10th. Royal Bank Of Canada cut shares of Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $13.00 to $11.00 in a report on Monday, June 13th. Zacks Investment Research raised shares of Dominion Diamond Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. TheStreet cut shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Finally, RBC Capital Markets reissued a “sector perform” rating on shares of Dominion Diamond Corp. in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.13.
The firm’s market cap is $750.03 million. The firm’s 50 day moving average price is $8.88 and its 200-day moving average price is $10.12.
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Dominion Diamond Corp. (NYSE:DDC) last released its earnings results on Thursday, September 8th. The company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.33. The firm had revenue of $160 million for the quarter, compared to analyst estimates of $196.50 million. Dominion Diamond Corp. had a negative return on equity of 1.08% and a negative net margin of 9.79%. The firm’s revenue was down 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Equities analysts forecast that Dominion Diamond Corp. will post $0.18 EPS for the current year.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, October 6th. This represents a dividend yield of 4.77%. Dominion Diamond Corp.’s payout ratio is -52.63%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co bought a new position in Dominion Diamond Corp. during the second quarter valued at about $109,000. Sterling Capital Management LLC bought a new position in Dominion Diamond Corp. during the second quarter valued at about $118,000. Schonfeld Strategic Advisors LLC bought a new position in Dominion Diamond Corp. during the first quarter valued at about $131,000. Timber Hill LLC bought a new position in Dominion Diamond Corp. during the second quarter valued at about $138,000. Finally, Legal & General Group Plc increased its position 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 last quarter. Institutional investors own 38.00% of the company’s stock.
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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