Intact Investment Management Inc. decreased its position in shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) by 79.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,546 shares of the basic materials company’s stock after selling 646,700 shares during the period. Intact Investment Management Inc. owned approximately 0.21% of Dominion Diamond Corporation worth $3,030,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Alpine Global Management LLC purchased a new position in shares of Dominion Diamond Corporation during the second quarter valued at about $1,972,000. Karp Capital Management Corp purchased a new position in shares of Dominion Diamond Corporation during the first quarter valued at about $244,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Dominion Diamond Corporation during the third quarter valued at about $5,672,000. Dimensional Fund Advisors LP grew its position in shares of Dominion Diamond Corporation by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 346,206 shares of the basic materials company’s stock valued at $4,373,000 after purchasing an additional 9,625 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in shares of Dominion Diamond Corporation by 39.2% during the second quarter. OMERS ADMINISTRATION Corp now owns 324,400 shares of the basic materials company’s stock valued at $4,077,000 after purchasing an additional 91,300 shares in the last quarter. Hedge funds and other institutional investors own 60.33% of the company’s stock.
Dominion Diamond Corporation (NYSE:DDC) opened at 14.25 on Wednesday. The company has a 50-day moving average price of $14.19 and a 200 day moving average price of $13.49. Dominion Diamond Corporation has a 52-week low of $8.29 and a 52-week high of $14.26. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 20.53 and a beta of 0.44.
Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings data on Wednesday, September 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Dominion Diamond Corporation had a net margin of 8.54% and a return on equity of 3.36%. The business had revenue of $239.78 million for the quarter. On average, analysts expect that Dominion Diamond Corporation will post $1.12 earnings per share for the current year.
Dominion Diamond Corporation announced that its board has authorized a stock repurchase plan on Monday, July 17th that permits the company to repurchase shares. This repurchase authorization permits the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
DDC has been the subject of a number of research analyst reports. Scotiabank lowered Dominion Diamond Corporation from a “sector perform” rating to a “tender” rating and set a $14.25 price objective for the company. in a research report on Thursday, September 14th. BMO Capital Markets lowered Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 18th. BidaskClub upgraded Dominion Diamond Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada raised their price objective on Dominion Diamond Corporation from $13.00 to $14.25 and gave the company a “sector perform” rating in a research report on Wednesday, July 19th. Finally, Gabelli lowered Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.75.
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About Dominion Diamond Corporation
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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