Ontario Teachers Pension Plan Board Has $628,000 Stake in Dominion Diamond Corporation (DDC)
Ontario Teachers Pension Plan Board continued to hold its position in shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the basic materials company’s stock at the close of the second quarter. Ontario Teachers Pension Plan Board owned 0.06% of Dominion Diamond Corporation worth $628,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 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 purchasing an additional 28,000 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Dominion Diamond Corporation during the 1st quarter valued at $244,000. State of Wisconsin Investment Board purchased a new stake in shares of Dominion Diamond Corporation during the 1st quarter valued at $455,000. Dimensional Fund Advisors LP lifted its holdings in shares of Dominion Diamond Corporation by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 346,206 shares of the basic materials company’s stock valued at $4,373,000 after purchasing an additional 9,625 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of Dominion Diamond Corporation by 39.2% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 324,400 shares of the basic materials company’s stock valued at $4,077,000 after purchasing an additional 91,300 shares during the last quarter. 59.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dominion Diamond Corporation (NYSE:DDC) opened at 14.22 on Wednesday. The firm has a market capitalization of $1.16 billion, a P/E ratio of 20.49 and a beta of 0.44. The stock’s 50 day moving average is $14.15 and its 200 day moving average is $13.28. 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 issued its quarterly earnings data on Wednesday, September 6th. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $239.78 million for the quarter. Dominion Diamond Corporation had a return on equity of 3.36% and a net margin of 8.54%. Equities analysts predict that Dominion Diamond Corporation will post $1.17 earnings per share for the current year.
Dominion Diamond Corporation announced that its Board of Directors has approved a stock buyback program on Monday, July 17th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts recently weighed in on DDC shares. BidaskClub downgraded Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Citigroup Inc. lowered Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the company from $14.40 to $14.25 in a research report on Wednesday, July 19th. Gabelli cut Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada increased their price target on Dominion Diamond Corporation from $13.00 to $14.25 and gave the company a “sector perform” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets downgraded Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.75.
COPYRIGHT VIOLATION WARNING: This story was first published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.watchlistnews.com/ontario-teachers-pension-plan-board-has-628000-stake-in-dominion-diamond-corporation-ddc/1607734.html.
Dominion Diamond Corporation 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.
Want to see what other hedge funds are holding DDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC).
Receive News & Ratings for Dominion Diamond Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Diamond Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.