Dominion Diamond Corp. (DDC) Upgraded by Barclays PLC to Overweight
Barclays PLC upgraded shares of Dominion Diamond Corp. (NYSE:DDC) from an equal weight rating to an overweight rating in a research report released on Wednesday. They currently have $11.40 target price on the stock.
DDC has been the topic of several other reports. BMO Capital Markets reaffirmed an outperform rating and set a $18.00 target price (down from $22.00) on shares of Dominion Diamond Corp. in a report on Wednesday, August 24th. TheStreet cut shares of Dominion Diamond Corp. from a hold rating to a sell rating in a report on Wednesday, September 14th. RBC Capital Markets reaffirmed a sector perform rating on shares of Dominion Diamond Corp. in a report on Friday, September 16th. Zacks Investment Research raised shares of Dominion Diamond Corp. from a sell rating to a hold rating in a report 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 report on Monday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $14.13.
Dominion Diamond Corp. (NYSE:DDC) opened at 8.84 on Wednesday. Dominion Diamond Corp. has a 52-week low of $7.27 and a 52-week high of $12.65. The company’s market cap is $750.03 million. The company has a 50-day moving average of $8.88 and a 200 day moving average of $10.12.
Dominion Diamond Corp. (NYSE:DDC) last announced its earnings results on Thursday, September 8th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.33. Dominion Diamond Corp. had a negative return on equity of 1.08% and a negative net margin of 9.79%. The business had revenue of $160 million for the quarter, compared to the consensus estimate of $196.50 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was down 23.7% compared to the same quarter last year. Equities research analysts predict that Dominion Diamond Corp. will post $0.18 EPS for the current year.
The company also recently declared a semiannual dividend, which will be paid on Thursday, November 3rd. Investors of record on Tuesday, October 11th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 6th. This represents a dividend yield of 4.77%. Dominion Diamond Corp.’s dividend payout ratio is -52.63%.
Hedge funds have recently modified their holdings of the stock. Paloma Partners Management Co bought a new stake in shares of Dominion Diamond Corp. during the second quarter worth $109,000. Sterling Capital Management LLC bought a new stake in shares of Dominion Diamond Corp. during the second quarter worth $118,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Dominion Diamond Corp. during the first quarter worth $131,000. Timber Hill LLC bought a new stake in shares of Dominion Diamond Corp. during the second quarter worth $138,000. Finally, Legal & General Group Plc raised its stake in shares of Dominion Diamond Corp. by 103.5% in the second quarter. Legal & General Group Plc now owns 16,848 shares of the company’s stock worth $148,000 after buying an additional 8,568 shares in the last quarter. Hedge funds and other institutional investors own 38.00% 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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