Dominion Diamond Corp (DDC) Receives Average Recommendation of “Buy” from Analysts
Dominion Diamond Corp (NYSE:DDC) (TSE:DDC) has earned a consensus rating of “Buy” from the eight research firms that are currently covering the firm. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $14.68.
A number of research analysts have issued reports on DDC shares. Royal Bank of Canada upped their price objective on Dominion Diamond Corp from $10.00 to $12.00 and gave the company a “sector perform” rating in a research note on Thursday, May 18th. Gabelli started coverage on Dominion Diamond Corp in a research report on Monday, April 3rd. They set a “buy” rating on the stock.
Shares of Dominion Diamond Corp (NYSE:DDC) traded up 0.433% during trading on Tuesday, hitting $12.745. 29,883 shares of the stock traded hands. Dominion Diamond Corp has a 52 week low of $7.92 and a 52 week high of $13.65. The firm has a market cap of $1.03 billion, a P/E ratio of 6372.500 and a beta of 0.80. The company has a 50-day moving average of $12.65 and a 200-day moving average of $10.52.
Dominion Diamond Corp (NYSE:DDC) last issued its earnings results on Wednesday, April 12th. The basic materials company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.01. Dominion Diamond Corp had a negative return on equity of 0.65% and a negative net margin of 6.47%. The firm had revenue of $129.90 million for the quarter, compared to analyst estimates of $297.52 million. During the same period in the previous year, the company earned ($0.41) earnings per share. Dominion Diamond Corp’s revenue for the quarter was down 27.1% compared to the same quarter last year. On average, analysts forecast that Dominion Diamond Corp will post $0.95 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Monday, June 5th. Shareholders of record on Wednesday, May 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a dividend yield of 3.18%. Dominion Diamond Corp’s payout ratio is currently -85.11%.
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Several hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its stake in Dominion Diamond Corp by 11.1% in the first quarter. HighTower Advisors LLC now owns 30,000 shares of the basic materials company’s stock valued at $379,000 after buying an additional 3,000 shares during the last quarter. Credit Suisse AG boosted its stake in Dominion Diamond Corp by 352.5% in the first quarter. Credit Suisse AG now owns 460,192 shares of the basic materials company’s stock valued at $5,812,000 after buying an additional 358,492 shares during the last quarter. Jane Street Group LLC acquired a new stake in Dominion Diamond Corp during the first quarter valued at $212,000. Bank of America Corp DE boosted its stake in Dominion Diamond Corp by 68.6% in the first quarter. Bank of America Corp DE now owns 250,027 shares of the basic materials company’s stock valued at $3,157,000 after buying an additional 101,716 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Dominion Diamond Corp by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 346,206 shares of the basic materials company’s stock valued at $4,373,000 after buying an additional 9,625 shares during the last quarter. 41.04% of the stock is currently owned by hedge funds and other institutional investors.
Dominion Diamond Corp 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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