Dominion Diamond Corp. (DDC) Given “Sector Perform” Rating at RBC Capital Markets
Several other brokerages have also recently issued reports on DDC. BMO Capital Markets reaffirmed an outperform rating and set a $18.00 target price (down previously from $22.00) on shares of Dominion Diamond Corp. in a research note on Wednesday, August 24th. TheStreet cut shares of Dominion Diamond Corp. from a hold rating to a sell rating in a research note on Wednesday, September 14th. Zacks Investment Research raised shares of Dominion Diamond Corp. from a sell rating to a hold rating in a research note on Tuesday, June 14th. Finally, Royal Bank Of Canada cut shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $14.78.
Dominion Diamond Corp. (NYSE:DDC) opened at 7.98 on Friday. The stock has a 50 day moving average of $9.04 and a 200-day moving average of $10.23. The company’s market capitalization is $677.06 million. Dominion Diamond Corp. has a 12-month low of $7.27 and a 12-month high of $12.65.
Dominion Diamond Corp. (NYSE:DDC) last released its quarterly earnings results on Thursday, September 8th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.33. Dominion Diamond Corp. had a negative net margin of 9.79% and a negative return on equity of 1.08%. The company earned $160 million during the quarter, compared to analyst estimates of $196.50 million. During the same period in the prior year, the business posted ($0.21) EPS. Dominion Diamond Corp.’s revenue was down 23.7% compared to the same quarter last year. Equities analysts expect that Dominion Diamond Corp. will post $0.18 earnings per share for the current year.
The business also recently declared a semiannual dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a dividend yield of 4.77%. Dominion Diamond Corp.’s dividend payout ratio is presently -52.63%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geneva Advisors LLC raised its position in Dominion Diamond Corp. by 2.4% in the second quarter. Geneva Advisors LLC now owns 55,160 shares of the company’s stock valued at $488,000 after buying an additional 1,290 shares in the last quarter. CWM LLC raised its position in Dominion Diamond Corp. by 3.9% in the second quarter. CWM LLC now owns 80,822 shares of the company’s stock valued at $714,000 after buying an additional 3,046 shares in the last quarter. Mckinley Capital Management LLC Delaware raised its position in Dominion Diamond Corp. by 4.2% in the second quarter. Mckinley Capital Management LLC Delaware now owns 75,380 shares of the company’s stock valued at $666,000 after buying an additional 3,063 shares in the last quarter. Legal & General Group Plc raised its position in Dominion Diamond Corp. by 103.5% in the second quarter. Legal & General Group Plc now owns 16,848 shares of the company’s stock valued at $148,000 after buying an additional 8,568 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Dominion Diamond Corp. during the first quarter valued at approximately $131,000. Institutional investors and hedge funds own 38.88% of the company’s stock.
Dominion Diamond Corp. Company Profile
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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