Trade Report: The Dominion Diamond Corp. (DDC) Rating Increased to Hold at The Zacks Investment Research

The Dominion Diamond Corp. (DDC) Rating Increased to Hold at The Zacks Investment Research

Zacks Investment Research upgraded shares of Dominion Diamond Corp. (NYSE:DDC) (TSE:DDC) from a sell rating to a hold rating in a report published on Tuesday morning.

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. “

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets restated an outperform rating and set a $18.00 price objective (down previously from $22.00) on shares of Dominion Diamond Corp. in a report on Wednesday, August 24th. TheStreet cut Dominion Diamond Corp. from a hold rating to a sell rating in a report on Wednesday, September 14th. RBC Capital Markets restated a sector perform rating on shares of Dominion Diamond Corp. in a report on Friday, September 16th. Barclays PLC upgraded Dominion Diamond Corp. from an equal weight rating to an overweight rating and set a $11.40 price objective for the company in a report on Wednesday, September 21st. Finally, Scotiabank restated an outperform rating and set a $14.00 price objective on shares of Dominion Diamond Corp. in a report on Sunday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $13.60.

Dominion Diamond Corp. (NYSE:DDC) opened at 9.09 on Tuesday. The firm’s 50-day moving average is $8.74 and its 200-day moving average is $9.23. Dominion Diamond Corp. has a 12 month low of $7.27 and a 12 month high of $12.65. The company’s market capitalization is $771.24 million.

Dominion Diamond Corp. (NYSE:DDC) last released its earnings results on Thursday, September 8th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.33. The company had revenue of $160 million for 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%. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. Equities analysts anticipate that Dominion Diamond Corp. will post $0.39 EPS for the current fiscal year.

The company also recently announced a semiannual dividend, which was paid on Thursday, November 3rd. Shareholders of record on Tuesday, October 11th were issued a $0.20 dividend. This represents a dividend yield of 4.77%. The ex-dividend date was Thursday, October 6th. Dominion Diamond Corp.’s dividend payout ratio is -52.63%.

Large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of 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 in the last quarter. TD Asset Management Inc. boosted its stake in shares of Dominion Diamond Corp. by 56.3% in the third quarter. TD Asset Management Inc. now owns 3,350,859 shares of the company’s stock valued at $32,897,000 after buying an additional 1,206,790 shares in the last quarter. Numeric Investors LLC boosted its stake in shares of Dominion Diamond Corp. by 400.9% in the second quarter. Numeric Investors LLC now owns 1,419,370 shares of the company’s stock valued at $12,516,000 after buying an additional 1,135,985 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Dominion Diamond Corp. by 1,637.5% in the second quarter. CIBC Asset Management Inc now owns 753,795 shares of the company’s stock valued at $6,623,000 after buying an additional 710,411 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of 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 valued at $18,643,000 after buying an additional 662,988 shares in the last quarter. Institutional investors and hedge funds own 41.70% 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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