Dominion Diamond Corp. (NYSE:DDC) was upgraded by research analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday. The brokerage currently has a $11.40 target price on the stock. Barclays PLC’s price objective points to a potential upside of 28.96% from the stock’s current price.

DDC has been the subject of several other research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $18.00 target price (down previously from $22.00) on shares of Dominion Diamond Corp. in a research note on Wednesday, August 24th. TheStreet lowered shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Zacks Investment Research raised shares of Dominion Diamond Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Royal Bank Of Canada lowered shares of Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $13.00 to $11.00 in a research note on Monday, June 13th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating on shares of Dominion Diamond Corp. in a research note on Friday, September 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $14.13.

Dominion Diamond Corp. (NYSE:DDC) traded up 6.00% during midday trading on Wednesday, reaching $8.84. 652,000 shares of the company’s stock traded hands. Dominion Diamond Corp. has a 1-year low of $7.27 and a 1-year high of $12.65. The company’s market capitalization is $750.03 million. The firm’s 50-day moving average is $8.89 and its 200-day moving average is $10.13.

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Dominion Diamond Corp. (NYSE:DDC) last announced its 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 company had revenue of $160 million for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period last year, the business earned ($0.21) EPS. Analysts forecast that Dominion Diamond Corp. will post $0.18 earnings per share for the current year.

The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th will be paid a $0.20 dividend. This represents a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, October 6th. Dominion Diamond Corp.’s payout ratio is -52.63%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of 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 worth $35,469,000 after buying an additional 505,520 shares in the last quarter. Sterling Capital Management LLC purchased a new position in shares of Dominion Diamond Corp. during the second quarter worth about $118,000. Legal & General Group Plc increased its position in shares of Dominion Diamond Corp. by 103.5% in the second quarter. Legal & General Group Plc now owns 16,848 shares of the company’s stock worth $148,000 after buying an additional 8,568 shares in the last quarter. Fiera Capital Corp increased its position in shares of Dominion Diamond Corp. by 185.6% in the second quarter. Fiera Capital Corp now owns 50,783 shares of the company’s stock worth $447,000 after buying an additional 33,000 shares in the last quarter. Finally, Numeric Investors LLC increased its position in shares of Dominion Diamond Corp. by 400.9% in the second quarter. Numeric Investors LLC now owns 1,419,370 shares of the company’s stock worth $12,516,000 after buying an additional 1,135,985 shares in the last quarter. 38.00% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:DDC

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