Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) was downgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “tender” rating in a research report issued on Thursday. They presently have a $14.25 price objective on the basic materials company’s stock. Scotiabank’s price objective indicates a potential upside of 0.42% from the company’s current price.

A number of other research analysts also recently commented on the stock. BidaskClub downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Royal Bank Of Canada increased their price target on shares of Dominion Diamond Corporation from $13.00 to $14.25 and gave the company a “sector perform” rating in a report on Wednesday, July 19th. Citigroup Inc. downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $14.40 to $14.25 in a report on Wednesday, July 19th. Gabelli downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, BMO Capital Markets downgraded shares of Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $15.03.

Dominion Diamond Corporation (NYSE DDC) traded down 0.106% on Thursday, hitting $14.175. The stock had a trading volume of 389,758 shares. Dominion Diamond Corporation has a 52-week low of $7.92 and a 52-week high of $14.20. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 20.425 and a beta of 0.42. The company’s 50 day moving average price is $14.11 and its 200 day moving average price is $12.68.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings results on Wednesday, September 6th. The basic materials company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Dominion Diamond Corporation had a net margin of 8.54% and a return on equity of 3.36%. The business had revenue of $239.78 million during the quarter. Analysts expect that Dominion Diamond Corporation will post $0.94 EPS for the current year.

Dominion Diamond Corporation declared that its Board of Directors has approved a share buyback program on Monday, July 17th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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Large investors have recently modified their holdings of the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Dominion Diamond Corporation during the first quarter worth approximately $2,940,000. Frontier Capital Management Co. LLC increased its position in shares of Dominion Diamond Corporation by 0.6% during the first quarter. Frontier Capital Management Co. LLC now owns 657,806 shares of the basic materials company’s stock worth $8,308,000 after acquiring an additional 3,862 shares during the period. Karp Capital Management Corp purchased a new position in shares of Dominion Diamond Corporation during the first quarter worth approximately $244,000. State of Wisconsin Investment Board purchased a new position in shares of Dominion Diamond Corporation during the first quarter worth approximately $455,000. Finally, Intact Investment Management Inc. increased its position in shares of Dominion Diamond Corporation by 3.5% during the second quarter. Intact Investment Management Inc. now owns 818,246 shares of the basic materials company’s stock worth $13,236,000 after acquiring an additional 28,000 shares during the period. 59.38% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Dominion Diamond Corporation (NYSE:DDC)

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