ARP Americas LLC trimmed its holdings in Dominion Diamond Co. (NYSE:DDC) (TSE:DDC) by 14.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,186 shares of the basic materials company’s stock after selling 8,229 shares during the quarter. ARP Americas LLC owned about 0.06% of Dominion Diamond worth $683,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. PSquared Asset Management AG grew its holdings in Dominion Diamond by 13.0% in the 3rd quarter. PSquared Asset Management AG now owns 3,139,625 shares of the basic materials company’s stock worth $44,520,000 after buying an additional 360,445 shares in the last quarter. Shell Asset Management Co. grew its holdings in Dominion Diamond by 145.6% in the 3rd quarter. Shell Asset Management Co. now owns 18,523 shares of the basic materials company’s stock worth $295,000 after buying an additional 10,981 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in Dominion Diamond in the 3rd quarter worth approximately $5,672,000. Toronto Dominion Bank grew its holdings in Dominion Diamond by 7.2% in the 2nd quarter. Toronto Dominion Bank now owns 30,921 shares of the basic materials company’s stock worth $390,000 after buying an additional 2,076 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Dominion Diamond in the 2nd quarter worth approximately $1,458,000. 60.33% of the stock is owned by institutional investors and hedge funds.
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A number of brokerages have issued reports on DDC. Scotiabank lowered Dominion Diamond from a “sector perform” rating to a “tender” rating and set a $14.25 price target for the company. in a research note on Thursday, September 14th. BidaskClub lowered Dominion Diamond from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Royal Bank Of Canada increased their price target on Dominion Diamond from $13.00 to $14.25 and gave the company a “sector perform” rating in a research note on Wednesday, July 19th. Citigroup Inc. downgraded Dominion Diamond 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. Finally, Gabelli downgraded Dominion Diamond from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.75.
Dominion Diamond Co. (NYSE DDC) traded down $0.01 on Friday, hitting $14.24. The stock had a trading volume of 988,200 shares, compared to its average volume of 829,896. The stock has a market capitalization of $1,170.00, a price-to-earnings ratio of 29.06 and a beta of 0.44. Dominion Diamond Co. has a one year low of $8.29 and a one year high of $14.26.
Dominion Diamond (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 Thomson Reuters’ consensus estimate of $0.23 by ($0.03). Dominion Diamond had a return on equity of 10.52% and a net margin of 12.96%. The firm had revenue of $239.78 million for the quarter. equities analysts anticipate that Dominion Diamond Co. will post 0.87 earnings per share for the current year.
Dominion Diamond declared that its board has approved a stock buyback program on Monday, July 17th that allows the company to buyback outstanding shares. This buyback authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
About Dominion Diamond
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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