Dominion Diamond Corp. (DDC) Shares Down 3.3%
Dominion Diamond Corp. (NYSE:DDC)’s share price dropped 3.3% during trading on Friday . The company traded as low as $8.67 and last traded at $8.69, with a volume of 132,215 shares changing hands. The stock had previously closed at $8.99.
DDC has been the subject of a number of research analyst reports. Zacks Investment Research cut Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 price target on shares of Dominion Diamond Corp. in a report on Friday, June 10th. Finally, Royal Bank Of Canada cut Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $13.00 to $11.00 in a report on Monday, June 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.61.
The firm’s market capitalization is $755.21 million. The firm has a 50-day moving average of $9.09 and a 200 day moving average of $10.56.
Dominion Diamond Corp. (NYSE:DDC) last announced its quarterly earnings results on Wednesday, June 8th. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The firm earned $178.30 million during the quarter, compared to analyst estimates of $199.50 million. Dominion Diamond Corp.’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. Equities research analysts anticipate that Dominion Diamond Corp. will post $0.64 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in DDC. Morgan Stanley raised its stake in shares of Dominion Diamond Corp. by 301.7% in the fourth quarter. Morgan Stanley now owns 2,238,701 shares of the company’s stock valued at $22,902,000 after buying an additional 1,681,369 shares during the period. OppenheimerFunds Inc. increased its position in shares of Dominion Diamond Corp. by 845.4% in the fourth quarter. OppenheimerFunds Inc. now owns 472,700 shares of the company’s stock valued at $4,831,000 after buying an additional 422,700 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Dominion Diamond Corp. by 24.6% in the fourth quarter. Schroder Investment Management Group now owns 1,009,340 shares of the company’s stock valued at $14,272,000 after buying an additional 199,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Dominion Diamond Corp. by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 295,710 shares of the company’s stock valued at $3,025,000 after buying an additional 3,997 shares in the last quarter.
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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