Bank of America Corp DE Has $3.16 Million Stake in Dominion Diamond Corporation (NYSE:DDC)

Bank of America Corp DE raised its stake in shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) by 68.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,027 shares of the basic materials company’s stock after buying an additional 101,716 shares during the period. Bank of America Corp DE owned about 0.31% of Dominion Diamond Corporation worth $3,157,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Dominion Diamond Corporation by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 336,581 shares of the basic materials company’s stock valued at $3,258,000 after buying an additional 5,837 shares during the period. Norges Bank acquired a new position in Dominion Diamond Corporation during the fourth quarter valued at approximately $9,880,000. Bank of Montreal Can raised its position in Dominion Diamond Corporation by 11.5% in the first quarter. Bank of Montreal Can now owns 311,259 shares of the basic materials company’s stock valued at $3,931,000 after buying an additional 32,165 shares during the period. Fox Run Management L.L.C. acquired a new position in Dominion Diamond Corporation during the first quarter valued at approximately $182,000. Finally, CWM LLC raised its position in Dominion Diamond Corporation by 9.9% in the first quarter. CWM LLC now owns 103,487 shares of the basic materials company’s stock valued at $1,307,000 after buying an additional 9,336 shares during the period. 57.91% of the stock is owned by institutional investors and hedge funds.

Shares of Dominion Diamond Corporation (NYSE:DDC) remained flat at $14.09 during mid-day trading on Friday. 136,974 shares of the stock were exchanged. The company’s 50-day moving average price is $13.65 and its 200 day moving average price is $12.14. The firm’s market cap is $1.14 billion. Dominion Diamond Corporation has a 12 month low of $7.92 and a 12 month high of $14.16.

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

Dominion Diamond Corporation announced that its board has authorized a stock buyback program on Monday, July 17th that permits the company to repurchase outstanding shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “Bank of America Corp DE Has $3.16 Million Stake in Dominion Diamond Corporation (NYSE:DDC)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.com-unik.info/2017/08/18/bank-of-america-corp-de-acquires-101716-shares-of-dominion-diamond-corporation-nyseddc-updated.html.

DDC has been the subject of several research reports. Royal Bank Of Canada lifted their price target on shares of Dominion Diamond Corporation from $10.00 to $12.00 and gave the company a “sector perform” rating in a report on Thursday, May 18th. Scotiabank lifted their price target on shares of Dominion Diamond Corporation from $14.00 to $14.50 and gave the company an “outperform” rating in a report on Thursday, June 1st. BMO Capital Markets lowered shares of Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 18th. Gabelli downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Citigroup Inc. downgraded shares of Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the company from $14.40 to $14.25 in a research 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 stock. The company presently has a consensus rating of “Hold” and an average price target of $15.07.

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.

Institutional Ownership by Quarter for Dominion Diamond Corporation (NYSE:DDC)

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