CIBC World Markets Inc. Has $2.10 Million Position in Dominion Diamond Corporation (DDC)

CIBC World Markets Inc. increased its stake in Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) by 40.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,143 shares of the basic materials company’s stock after purchasing an additional 48,361 shares during the quarter. CIBC World Markets Inc. owned approximately 0.21% of Dominion Diamond Corporation worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Neuberger Berman Group LLC increased its stake in Dominion Diamond Corporation by 11.9% in the 1st quarter. Neuberger Berman Group LLC now owns 2,890,263 shares of the basic materials company’s stock worth $36,504,000 after purchasing an additional 307,837 shares in the last quarter. PSquared Asset Management AG purchased a new position in Dominion Diamond Corporation in the 2nd quarter worth about $34,907,000. K2 Principal Fund L.P. increased its stake in Dominion Diamond Corporation by 2.8% in the 1st quarter. K2 Principal Fund L.P. now owns 2,588,550 shares of the basic materials company’s stock worth $31,477,000 after purchasing an additional 69,500 shares in the last quarter. FMR LLC increased its stake in Dominion Diamond Corporation by 8.5% in the 1st quarter. FMR LLC now owns 1,320,385 shares of the basic materials company’s stock worth $16,701,000 after purchasing an additional 103,800 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in Dominion Diamond Corporation by 17.5% in the 1st quarter. Schroder Investment Management Group now owns 1,153,303 shares of the basic materials company’s stock worth $19,398,000 after purchasing an additional 171,907 shares in the last quarter. 59.38% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on DDC. Royal Bank Of Canada reissued a “hold” rating and issued a $12.00 price target on shares of Dominion Diamond Corporation in a research note on Wednesday, June 21st. Citigroup Inc. cut Dominion Diamond Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $14.40 to $14.25 in a research note on Wednesday, July 19th. BMO Capital Markets cut Dominion Diamond Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 18th. BidaskClub cut Dominion Diamond Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Scotiabank cut Dominion Diamond Corporation from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $14.50 to $14.25 in a research note on Thursday, September 7th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.03.

Shares of Dominion Diamond Corporation (NYSE DDC) opened at 14.19 on Wednesday. The firm’s market capitalization is $1.14 billion. Dominion Diamond Corporation has a 12 month low of $7.92 and a 12 month high of $14.20. The firm’s 50-day moving average price is $14.10 and its 200-day moving average price is $12.64.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings results 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 return on equity of 3.36% and a net margin of 8.54%. The business had revenue of $239.78 million during the quarter. On average, equities analysts anticipate that Dominion Diamond Corporation will post $0.93 earnings per share for the current year.

Dominion Diamond Corporation announced that its Board of Directors has initiated a stock repurchase program on Monday, July 17th that allows the company to repurchase shares. This repurchase authorization allows the basic materials company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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

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