Barclays PLC Upgrades Dominion Diamond Corp. (DDC) to “Overweight”
Dominion Diamond Corp. (NYSE:DDC) was upgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday. The brokerage currently has a $11.40 price objective on the stock. Barclays PLC’s target price indicates a potential upside of 27.09% from the stock’s current price.
Several other equities research analysts have also recently commented on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 target price on shares of Dominion Diamond Corp. in a research report on Friday, June 10th. Royal Bank Of Canada cut shares of Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $13.00 to $11.00 in a research report on Monday, June 13th. Zacks Investment Research raised shares of Dominion Diamond Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. TheStreet cut shares of Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating on shares of Dominion Diamond Corp. in a research report on Friday, September 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.13.
Shares of Dominion Diamond Corp. (NYSE:DDC) opened at 8.97 on Wednesday. Dominion Diamond Corp. has a 12 month low of $7.27 and a 12 month high of $12.65. The firm has a 50-day moving average of $8.87 and a 200-day moving average of $10.11. The company’s market capitalization is $761.06 million.
Dominion Diamond Corp. (NYSE:DDC) last announced its quarterly 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 firm had revenue of $160 million for 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 company’s quarterly revenue was down 23.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. On average, equities analysts predict that Dominion Diamond Corp. will post $0.18 earnings per share for the current year.
The firm 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 of this dividend is Thursday, October 6th. This represents a yield of 4.77%. Dominion Diamond Corp.’s dividend payout ratio (DPR) is currently -52.63%.
A number of hedge funds and other institutional investors have recently modified their holdings of DDC. Royal Bank of Canada raised its stake in Dominion Diamond Corp. by 14.4% in the second quarter. Royal Bank of Canada now owns 4,012,273 shares of the company’s stock worth $35,469,000 after buying an additional 505,520 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in Dominion Diamond Corp. during the second quarter worth $118,000. Legal & General Group Plc raised its stake 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 worth $148,000 after buying an additional 8,568 shares in the last quarter. Fiera Capital Corp raised its stake in Dominion Diamond Corp. by 185.6% in the second quarter. Fiera Capital Corp now owns 50,783 shares of the company’s stock worth $447,000 after buying an additional 33,000 shares in the last quarter. Finally, Numeric Investors LLC raised its stake in Dominion Diamond Corp. by 400.9% in the second quarter. Numeric Investors LLC now owns 1,419,370 shares of the company’s stock worth $12,516,000 after buying an additional 1,135,985 shares in the last quarter. 38.00% of the stock is owned by 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.
Receive News & Ratings for Dominion Diamond Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dominion Diamond Corp. and related companies with MarketBeat.com's FREE daily email newsletter.