Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.19.

A number of research firms recently issued reports on DDC. BidaskClub downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Gabelli downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BMO Capital Markets downgraded shares of Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 18th. Citigroup Inc. downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $14.40 to $14.25 in a research note on Wednesday, July 19th. Finally, Scotiabank downgraded shares of Dominion Diamond Corporation from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $14.50 to $14.25 in a research note on Thursday, September 7th.

Shares of Dominion Diamond Corporation (NYSE:DDC) traded up 0.14% during mid-day trading on Friday, hitting $14.19. The stock had a trading volume of 349,452 shares. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 20.45 and a beta of 0.44. The stock’s 50-day moving average is $14.18 and its 200 day moving average is $13.42. Dominion Diamond Corporation has a 1-year low of $8.29 and a 1-year high of $14.23.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last released its quarterly earnings results on Wednesday, September 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Dominion Diamond Corporation had a return on equity of 3.36% and a net margin of 8.54%. The company had revenue of $239.78 million during the quarter. Equities research analysts predict that Dominion Diamond Corporation will post $1.12 EPS for the current fiscal year.

Dominion Diamond Corporation declared that its Board of Directors has authorized a share buyback plan on Monday, July 17th that allows the company to buyback shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently made changes to their positions in the business. PSquared Asset Management AG increased its stake in shares of Dominion Diamond Corporation by 13.0% during the third quarter. PSquared Asset Management AG now owns 3,139,625 shares of the basic materials company’s stock valued at $44,520,000 after purchasing an additional 360,445 shares in the last quarter. Shell Asset Management Co. increased its stake in shares of Dominion Diamond Corporation by 145.6% during the third quarter. Shell Asset Management Co. now owns 18,523 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 10,981 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Dominion Diamond Corporation during the third quarter valued at approximately $5,672,000. Toronto Dominion Bank increased its stake in shares of Dominion Diamond Corporation by 7.2% during the second quarter. Toronto Dominion Bank now owns 30,921 shares of the basic materials company’s stock valued at $390,000 after purchasing an additional 2,076 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Dominion Diamond Corporation during the second quarter valued at approximately $1,458,000. 59.36% of the stock is owned by institutional investors and hedge funds.

About Dominion Diamond Corporation

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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