Intact Investment Management Inc. lifted its position in shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) by 3.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 818,246 shares of the basic materials company’s stock after buying an additional 28,000 shares during the quarter. Intact Investment Management Inc. owned approximately 1.02% of Dominion Diamond Corporation worth $13,236,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Dominion Diamond Corporation in the 1st quarter valued at $112,000. Legal & General Group Plc increased its holdings in shares of Dominion Diamond Corporation by 7.2% in the 2nd 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 last quarter. Westpac Banking Corp bought a new stake in shares of Dominion Diamond Corporation in the 2nd quarter worth about $149,000. Trexquant Investment LP bought a new stake in shares of Dominion Diamond Corporation in the 2nd quarter worth about $178,000. Finally, Sei Investments Co. increased its holdings in shares of Dominion Diamond Corporation by 529.5% in the 1st quarter. Sei Investments Co. now owns 16,362 shares of the basic materials company’s stock worth $207,000 after buying an additional 13,763 shares during the last quarter. Institutional investors own 59.38% of the company’s stock.
A number of equities analysts recently commented on DDC shares. Royal Bank Of Canada lifted their price target on shares of Dominion Diamond Corporation from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 18th. Scotiabank lifted their price target on shares of Dominion Diamond Corporation from $14.00 to $14.50 and gave the stock an “outperform” rating in a research note on Thursday, June 1st. Gabelli cut shares of Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub raised shares of Dominion Diamond Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, BMO Capital Markets cut shares of Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 18th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.03.
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Dominion Diamond Corporation (NYSE DDC) traded up 0.21% on Friday, hitting $14.18. 952,401 shares of the company traded hands. The firm’s market capitalization is $1.14 billion. The stock’s 50-day moving average is $14.10 and its 200 day moving average is $12.56. Dominion Diamond Corporation has a 12 month low of $7.92 and a 12 month high of $14.20.
Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last issued its quarterly earnings results on Wednesday, September 6th. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $239.78 million for the quarter. Dominion Diamond Corporation had a net margin of 8.54% and a return on equity of 3.36%. Equities analysts forecast that Dominion Diamond Corporation will post $0.93 EPS for the current fiscal year.
Dominion Diamond Corporation declared that its board has initiated a share repurchase program on Monday, July 17th that permits the company to buyback outstanding shares. This buyback authorization permits the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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.
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