BidaskClub cut shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) from a buy rating to a hold rating in a research note released on Friday morning.

Several other brokerages also recently issued reports on DDC. Royal Bank Of Canada raised their price target on Dominion Diamond Corporation from $10.00 to $12.00 and gave the stock a sector perform rating in a report on Thursday, May 18th. Scotiabank raised their price target on Dominion Diamond Corporation from $14.00 to $14.50 and gave the stock an outperform rating in a report on Thursday, June 1st. BMO Capital Markets downgraded Dominion Diamond Corporation from an outperform rating to a market perform rating in a report on Tuesday, July 18th. Gabelli downgraded Dominion Diamond Corporation from a buy rating to a hold rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. downgraded Dominion Diamond Corporation from a buy rating to a neutral rating and cut their price target for the stock from $14.40 to $14.25 in a report on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $15.07.

Dominion Diamond Corporation (NYSE DDC) traded down 0.14% during midday trading on Friday, hitting $14.10. The stock had a trading volume of 183,070 shares. The stock has a 50-day moving average price of $13.19 and a 200 day moving average price of $11.85. Dominion Diamond Corporation has a one year low of $7.92 and a one year high of $14.16. The firm’s market cap is $1.14 billion.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings results on Monday, June 12th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.04. The business had revenue of $211 million for the quarter. Dominion Diamond Corporation had a positive return on equity of 1.46% and a negative net margin of 1.07%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. On average, analysts predict that Dominion Diamond Corporation will post $0.93 earnings per share for the current year.

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Dominion Diamond Corporation announced that its Board of Directors has authorized a stock repurchase plan on Monday, July 17th that allows the company to buyback outstanding shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently made changes to their positions in DDC. Legal & General Group Plc boosted its position in Dominion Diamond Corporation by 7.2% in the second quarter. Legal & General Group Plc now owns 8,874 shares of the basic materials company’s stock worth $112,000 after buying an additional 594 shares during the period. Aperio Group LLC boosted its position in Dominion Diamond Corporation by 6.6% in the second quarter. Aperio Group LLC now owns 20,581 shares of the basic materials company’s stock worth $258,000 after buying an additional 1,268 shares during the period. HighTower Advisors LLC boosted its position in Dominion Diamond Corporation by 11.1% in the first quarter. HighTower Advisors LLC now owns 30,000 shares of the basic materials company’s stock worth $379,000 after buying an additional 3,000 shares during the period. CWM LLC boosted its position in Dominion Diamond Corporation by 3.3% in the second quarter. CWM LLC now owns 106,861 shares of the basic materials company’s stock worth $1,342,000 after buying an additional 3,374 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in Dominion Diamond Corporation by 0.6% in the first quarter. Frontier Capital Management Co. LLC now owns 657,806 shares of the basic materials company’s stock worth $8,308,000 after buying an additional 3,862 shares during the period. 56.61% of the stock is currently owned by hedge funds and other institutional investors.

Dominion Diamond Corporation Company 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.

Analyst Recommendations for Dominion Diamond Corporation (NYSE:DDC)

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