Dominion Diamond Corporation (DDC) Short Interest Update

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) was the target of a large increase in short interest in September. As of September 29th, there was short interest totalling 6,371,843 shares, an increase of 58.7% from the September 15th total of 4,014,608 shares. Based on an average daily trading volume, of 934,429 shares, the days-to-cover ratio is presently 6.8 days. Currently, 8.0% of the company’s stock are short sold.

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in Dominion Diamond Corporation in the 1st quarter valued at approximately $112,000. Legal & General Group Plc increased its position in shares of Dominion Diamond Corporation by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 8,874 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 594 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Dominion Diamond Corporation by 57.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,927 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,533 shares during the last quarter. Scotia Capital Inc. increased its position in shares of Dominion Diamond Corporation by 142.6% during the 2nd quarter. Scotia Capital Inc. now owns 11,512 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 38,567 shares during the last quarter. Finally, Westpac Banking Corp acquired a new position in shares of Dominion Diamond Corporation during the 2nd quarter worth approximately $149,000. 59.36% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. BidaskClub cut Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Citigroup Inc. cut Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $14.40 to $14.25 in a research note on Wednesday, July 19th. Gabelli cut Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada boosted their price target on Dominion Diamond Corporation from $13.00 to $14.25 and gave the company a “sector perform” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets cut Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.75.

Shares of Dominion Diamond Corporation (DDC) opened at 14.17 on Wednesday. The company has a 50 day moving average price of $14.17 and a 200 day moving average price of $13.37. The company has a market cap of $1.16 billion, a PE ratio of 20.42 and a beta of 0.44. Dominion Diamond Corporation has a 52 week low of $8.29 and a 52 week high of $14.23.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its earnings results on Wednesday, September 6th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $239.78 million during the quarter. On average, equities analysts expect that Dominion Diamond Corporation will post $1.12 earnings per share for the current year.

Dominion Diamond Corporation announced that its Board of Directors has initiated a share buyback plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.

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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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