Barclays Upgrades Dominion Diamond Corp to Overweight

Brokerage firm Barclays Upgrades its rating on Dominion Diamond Corp(NYSE:DDC). The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Barclays was issued on Sep 21, 2016.

Dominion Diamond Corp (DDC) made into the market gainers list on Tuesdays trading session with the shares advancing 2.21% or 0.18 points. Due to strong positive momentum, the stock ended at $8.34, which is also near the day’s high of $8.47. The stock began the session at $8.16 and the volume stood at 3,64,465 shares. The 52-week high of the shares is $12.65 and the 52 week low is $7.27. The company has a current market capitalization of $732 M and it has 8,78,18,125 shares in outstanding.

Dominion Diamond Corp(DDC) last announced its earnings results on Sep 8, 2016 for Fiscal Year 2017 and Q2.Company reported revenue of $160.00M. Analysts had an estimated revenue of $196.50M. Earnings per share were $-0.17. Analysts had estimated an EPS of $-0.17.

Dominion Diamond Corporation is focused on the mining and marketing of rough diamonds to the global market. The Company has ownership interests in the Diavik and the Ekati group of mineral claims. The Diavik Joint Venture is an unincorporated joint arrangement between Diavik Diamond Mines (2012) Inc. (DDMI) and Dominion Diamond Diavik Limited Partnership (DDDLP) where DDDLP holds an undivided 40% ownership interest in the assets liabilities and expenses of the Diavik Diamond Mine. DDMI is the operator of the Diavik Diamond Mine. The Ekati Diamond Mine consists of the Core Zone which includes the current operating mine and other permitted kimberlite pipes as well as the Buffer Zone an adjacent area hosting kimberlite pipes having both development and exploration potential. The Company owns an 88.9% interest in the Core Zone and a 65.3% interest in the Buffer Zone. The Company controls and consolidates the Ekati Diamond Mine.

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