Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 3,313,025 shares, an increase of 2,934.5% from the July 14th total of 109,177 shares. Based on an average daily volume of 4,712,355 shares, the short-interest ratio is presently 0.7 days. Approximately 4.2% of the company’s stock are sold short.

Dominion Diamond Corporation (NYSE:DDC) opened at 14.07 on Tuesday. The company’s 50-day moving average price is $13.53 and its 200 day moving average price is $12.09. Dominion Diamond Corporation has a 52-week low of $7.92 and a 52-week high of $14.16. The stock’s market capitalization is $1.13 billion.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings results on Monday, June 12th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.04. The company had revenue of $211 million for the quarter. Dominion Diamond Corporation had a positive return on equity of 1.46% and a negative net margin of 1.07%. Dominion Diamond Corporation’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, equities research analysts predict that Dominion Diamond Corporation will post $0.93 earnings per share for the current fiscal year.

Dominion Diamond Corporation announced that its board has initiated a stock repurchase program on Monday, July 17th that permits the company to buyback outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several analysts recently commented on DDC shares. BidaskClub raised Dominion Diamond Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada lifted their price objective on Dominion Diamond Corporation from $13.00 to $14.25 and gave the stock a “sector perform” rating in a report on Wednesday, July 19th. Citigroup Inc. lowered Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $14.40 to $14.25 in a report on Wednesday, July 19th. Gabelli lowered Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, BMO Capital Markets lowered Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.07.

Several large investors have recently bought and sold shares of DDC. Gabelli Funds LLC raised its stake in Dominion Diamond Corporation by 26.7% in the first quarter. Gabelli Funds LLC now owns 544,805 shares of the basic materials company’s stock valued at $6,881,000 after buying an additional 114,805 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Dominion Diamond Corporation by 30.8% in the first quarter. Gamco Investors INC. ET AL now owns 417,301 shares of the basic materials company’s stock valued at $5,271,000 after buying an additional 98,301 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Dominion Diamond Corporation by 56.3% in the first quarter. UBS Asset Management Americas Inc. now owns 24,697 shares of the basic materials company’s stock valued at $311,000 after buying an additional 8,900 shares during the last quarter. Geneva Advisors LLC raised its stake in Dominion Diamond Corporation by 16.4% in the first quarter. Geneva Advisors LLC now owns 60,650 shares of the basic materials company’s stock valued at $766,000 after buying an additional 8,565 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Dominion Diamond Corporation by 94.0% in the first quarter. Tocqueville Asset Management L.P. now owns 247,721 shares of the basic materials company’s stock valued at $3,129,000 after buying an additional 120,000 shares during the last quarter. 57.91% of the stock is currently owned by institutional investors and hedge funds.

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Dominion Diamond Corporation 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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