Published: Mon, July 17, 2017
Economy | By Annette Adams

Dominion Diamond Corporation (NYSE:DDC) Receives Consensus Recommendation of "Buy" from Analysts

Dominion Diamond Corporation (NYSE:DDC) Receives Consensus Recommendation of

The share price has moved forward from its 20 days moving average, trading at a distance of 6.67% and stays 5.47% away from its 50 days moving average.

The opening price for Dominion Diamond Corporation (NYSE:DDC) was $12.82 and the volume amounted to 4.01 million shares which compares with the average volume of 0.55 million shares. Scotiabank increased 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.

In March, Dominion Diamond Corporation said a $1.1-billion United States takeover bid by The Washington Companies undervalued the company and was a "highly opportunistic" attempt by a USA conglomerate to see its confidential information. Gabelli started coverage on shares of Dominion Diamond Corporation in a research note on Monday, April 3rd. A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. The stock boasts a consensus analyst "Buy" rating with the consensus recommendation standing at 1.70.

Shares of Dominion Diamond Corporation (NYSE:DDC) traded up 5.64% during trading on Friday, hitting $13.48. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Finally, Renaissance Technologies LLC increased its position in shares of Dominion Diamond Corporation by 22.4% in the fourth quarter. Analysts are projecting that the stock will reach $14.85 on a short term (1 year) basis.

The counter witnessed a trading volume of 0.24 million shares versus an average volume of 0.6 million shares during last trading session.

The current market capitalization of Dominion Diamond Corp (NYSE:DDC) stands at 1.02 Billion. Dominion Diamond Corporation was founded in 1980 and is headquartered in Yellowknife, Canada. The company had revenue of $211 million during the quarter. The basic materials company reported $0.09 EPS for the quarter, beating the Zacks' consensus estimate of $0.05 by $0.04. During the same quarter in the previous year, the business posted ($0.01) EPS. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of US and worldwide copyright & trademark legislation. The stock spiked 2.12% last month and is up 39.26 this year.

Dominion Diamond Corp is a diamond mining company.

Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last announced its quarterly earnings data on Monday, June 12th. "The strengthened global platform creates a much greater acquisition pipeline and higher potential synergies from future acquisitions, especially in food and beverage, the largest segment of the global labels market", a statement said.

Dominion, which owns a majority stake in the Ekati mine and minority share of the nearby Diavik mine in Canada's Northwest Territories, launched a sales process in March following the initial unsolicited approach from Washington. 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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