Published On: Fri, Sep 16th, 2016

Dominion Diamond Corp. (DDC) Downgraded to “Sell” at TheStreet

Dominion Diamond Corp. (NYSE:DDC) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
DDC has been the subject of several other research reports. BMO Capital Markets reaffirmed 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. Zacks Investment Research raised shares of Dominion Diamond Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, Royal Bank Of Canada lowered shares of Dominion Diamond Corp. from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $13.00 to $11.00 in a report on Monday, June 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Dominion Diamond Corp. presently has an average rating of “Hold” and a consensus target price of $14.23.
Shares of Dominion Diamond Corp. (NYSE:DDC) remained flat at $8.10 during midday trading on Wednesday. 596,530 shares of the company’s stock traded hands. The company’s 50 day moving average is $8.99 and its 200-day moving average is $10.20. Dominion Diamond Corp. has a 1-year low of $7.27 and a 1-year high of $12.65. The company’s market capitalization is $687.24 million.

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Dominion Diamond Corp. (NYSE:DDC) last posted its quarterly earnings results on Thursday, September 8th. The company reported ($0.39) earnings per share (EPS) 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 business earned $160 million during the quarter, compared to analyst estimates of $196.50 million. During the same period last year, the company earned ($0.21) EPS. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. On average, equities analysts forecast that Dominion Diamond Corp. will post $0.55 EPS for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Thursday, November 3rd. Investors of record on Tuesday, October 11th will be issued a $0.20 dividend. This represents a dividend yield of 4.77%. The ex-dividend date is Thursday, October 6th. Dominion Diamond Corp.’s dividend payout ratio is currently -52.63%.
Several hedge funds have recently modified their holdings of DDC. Royal Bank of Canada raised 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 worth $38,890,000 after buying an additional 2,444,671 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Dominion Diamond Corp. by 141.3% in the first quarter. Goldman Sachs Group Inc. now owns 214,382 shares of the company’s stock worth $2,378,000 after buying an additional 125,555 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of Dominion Diamond Corp. during the first quarter worth $420,000. TD Asset Management Inc. raised its stake in shares of Dominion Diamond Corp. by 44.6% in the second quarter. TD Asset Management Inc. now owns 2,144,069 shares of the company’s stock worth $18,870,000 after buying an additional 660,986 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Dominion Diamond Corp. during the first quarter worth $835,000. 38.88% of the stock is owned by institutional investors and hedge funds.
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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