Analysts Set Dominion Diamond Corp. (DDC) Target Price at $13.60
Dominion Diamond Corp. (NYSE:DDC) (TSE:DDC) has received a consensus rating of “Hold” from the seven brokerages that are covering the firm. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $13.60.
Several brokerages have weighed in on DDC. RBC Capital Markets reaffirmed a “sector perform” rating on shares of Dominion Diamond Corp. in a research report on Friday, September 30th. Zacks Investment Research lowered Dominion Diamond Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 target price (down from $22.00) on shares of Dominion Diamond Corp. in a research report on Wednesday, August 24th. Scotiabank reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Dominion Diamond Corp. in a research report on Sunday, October 23rd. Finally, Barclays PLC raised Dominion Diamond Corp. from an “equal weight” rating to an “overweight” rating and set a $11.40 target price on the stock in a research report on Wednesday, September 21st.
Dominion Diamond Corp. (NYSE:DDC) opened at 9.55 on Monday. Dominion Diamond Corp. has a 1-year low of $7.27 and a 1-year high of $12.65. The stock’s 50 day moving average price is $8.77 and its 200 day moving average price is $9.18. The firm’s market cap is $810.27 million.
Dominion Diamond Corp. (NYSE:DDC) last issued 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. Dominion Diamond Corp. had a negative return on equity of 1.08% and a negative net margin of 9.79%. The company earned $160 million during the quarter, compared to analyst estimates of $196.50 million. During the same period in the prior year, the business earned ($0.21) earnings per share. Dominion Diamond Corp.’s quarterly revenue was down 23.7% on a year-over-year basis. Equities research analysts predict that Dominion Diamond Corp. will post $0.39 EPS for the current year.
The firm also recently declared a semiannual dividend, which was paid on Thursday, November 3rd. Stockholders of record on Tuesday, October 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a dividend yield of 4.77%. Dominion Diamond Corp.’s payout ratio is -52.63%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its position in shares of Dominion Diamond Corp. by 49.8% in the third quarter. Credit Suisse AG now owns 95,511 shares of the company’s stock valued at $930,000 after buying an additional 31,739 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its position in shares of Dominion Diamond Corp. by 31.4% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,162,145 shares of the company’s stock valued at $11,274,000 after buying an additional 277,935 shares in the last quarter. Lonestar Capital Management LLC purchased a new position in shares of Dominion Diamond Corp. during the third quarter valued at $2,922,000. The Manufacturers Life Insurance Company purchased a new position in shares of Dominion Diamond Corp. during the third quarter valued at $657,000. Finally, Zacks Investment Management boosted its position in shares of Dominion Diamond Corp. by 1.9% in the third quarter. Zacks Investment Management now owns 305,715 shares of the company’s stock valued at $2,978,000 after buying an additional 5,678 shares in the last quarter. 41.70% of the stock is owned by institutional investors.
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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