Dominion Diamond Corp. (NYSE:DDC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
According to Zacks, “Dominion Diamond Corporation is engaged in mining and marketing of rough diamonds. It also undertakes rough diamond sorting and sales operations in Canada, Belgium and India. The company sources diamonds from mines in Canada’s Northwest Territories. Dominion Diamond Corporation, formerly known as Harry Winston Diamond Corporation, is based in Toronto, Canada. “
DDC has been the topic of several other reports. Royal Bank Of Canada lowered Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $13.00 to $11.00 in a research note on Monday, June 13th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price objective (down from $22.00) on shares of Dominion Diamond Corp. in a research note on Wednesday, August 24th. RBC Capital Markets reaffirmed a “sector perform” rating on shares of Dominion Diamond Corp. in a research note on Friday, September 16th. TheStreet lowered Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Finally, Barclays PLC raised Dominion Diamond Corp. from an “equal weight” rating to an “overweight” rating and set a $11.40 price objective on the stock in a research note on Wednesday, September 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Dominion Diamond Corp. presently has an average rating of “Hold” and a consensus price target of $14.13.
Dominion Diamond Corp. (NYSE:DDC) opened at 9.15 on Friday. The stock’s market capitalization is $776.33 million. The firm has a 50-day moving average of $8.89 and a 200 day moving average of $10.03. 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 posted its quarterly earnings results on Thursday, September 8th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.33. The business earned $160 million during the quarter, compared to analysts’ expectations of $196.50 million. Dominion Diamond Corp. had a negative net margin of 9.79% and a negative return on equity of 1.08%. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) EPS. On average, analysts anticipate that Dominion Diamond Corp. will post $0.18 EPS for the current year.
The business 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. This represents a yield of 4.77%. The ex-dividend date of this dividend is Thursday, October 6th. Dominion Diamond Corp.’s dividend payout ratio (DPR) is presently -52.63%.
Institutional investors have recently added to or reduced their stakes in the company. Palo Capital Inc. raised its position in Dominion Diamond Corp. by 117.3% in the second quarter. Palo Capital Inc. now owns 35,654 shares of the company’s stock valued at $316,000 after buying an additional 19,247 shares during the period. Royal Bank of Canada raised its position in Dominion Diamond Corp. by 230.2% in the first quarter. Royal Bank of Canada now owns 3,506,753 shares of the company’s stock valued at $38,890,000 after buying an additional 2,444,671 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Dominion Diamond Corp. during the first quarter valued at approximately $131,000. Renaissance Technologies LLC raised its position 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 valued at $23,117,000 after buying an additional 161,900 shares during the period. Finally, Geode Capital Management LLC raised its position in Dominion Diamond Corp. by 192.9% in the first quarter. Geode Capital Management LLC now owns 47,280 shares of the company’s stock valued at $524,000 after buying an additional 31,138 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
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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