Dominion Diamond Corp. (DDC) Downgraded by TheStreet to Sell
A number of other research firms have also recently issued reports on DDC. BMO Capital Markets reissued a buy rating and set a $22.00 target price on shares of Dominion Diamond Corp. in a research note on Friday, June 10th. Royal Bank Of Canada cut 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, Zacks Investment Research raised Dominion Diamond Corp. from a sell rating to a hold rating in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Dominion Diamond Corp. currently has a consensus rating of Hold and a consensus target price of $14.78.
Dominion Diamond Corp. (NYSE:DDC) opened at 8.16 on Wednesday. The company’s market cap is $692.34 million. The stock has a 50 day moving average of $8.91 and a 200-day moving average of $10.15. Dominion Diamond Corp. has a 52-week low of $7.27 and a 52-week high of $12.65.
Dominion Diamond Corp. (NYSE:DDC) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.33. The company earned $160 million during the quarter, compared to the consensus estimate of $196.50 million. Dominion Diamond Corp. had a negative net margin of 9.79% and a negative return on equity of 1.08%. During the same period last year, the company earned ($0.21) earnings per share. The business’s revenue was down 23.7% compared to the same quarter last year. On average, analysts forecast that Dominion Diamond Corp. will post $0.18 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, November 3rd. Investors of record on Tuesday, October 11th will be paid a $0.20 dividend. This represents a yield of 4.77%. The ex-dividend date is Thursday, October 6th. Dominion Diamond Corp.’s dividend payout ratio (DPR) is presently -52.63%.
A number of large investors have recently bought and sold shares of DDC. Royal Bank of Canada boosted its stake in 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 during the period. TD Asset Management Inc. boosted its stake in Dominion Diamond Corp. by 44.6% in the second quarter. TD Asset Management Inc. now owns 2,144,069 shares of the company’s stock worth $18,870,000 after buying an additional 660,986 shares during the period. Neuberger Berman Group LLC boosted its stake in Dominion Diamond Corp. by 45.9% in the second quarter. Neuberger Berman Group LLC now owns 2,108,972 shares of the company’s stock worth $18,643,000 after buying an additional 662,988 shares during the period. Renaissance Technologies LLC boosted its stake in Dominion Diamond Corp. by 8.4% in the first quarter. Renaissance Technologies LLC now owns 2,084,398 shares of the company’s stock worth $23,117,000 after buying an additional 161,900 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Dominion Diamond Corp. by 17.3% in the second quarter. Vanguard Group Inc. now owns 1,455,135 shares of the company’s stock worth $12,864,000 after buying an additional 214,625 shares during the period. Institutional investors and hedge funds own 38.88% of the company’s stock.
About Dominion Diamond Corp.
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.
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