RBC Capital Downgrades Dominion Diamond Corp to Sector Perform

Brokerage firm RBC Capital Downgrades its rating on Dominion Diamond Corp(NYSE:DDC). The shares have been rated Sector Perform. Previously, the analysts had a Outperform rating on the shares. The rating by RBC Capital was issued on Jun 13, 2016.

In a different note, On Apr 8, 2016, Citigroup said it Maintains its rating on Dominion Diamond Corp. In the research note, the firm Raises the price-target to $12.96 per share. The shares have been rated ‘Buy’ by the firm.

Dominion Diamond Corp (DDC) shares turned negative on Fridays trading session with the shares closing down -0.08 points or -0.83% at a volume of 2,81,949. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.87. The peak price level was also seen at $9.87 while the days lowest was $9.435. Finally the shares closed at $9.6. The 52-week high of the shares is $16.2399 while the 52-week low is $7.27. According to the latest information available, the market cap of the company is $819 M.

Dominion Diamond Corp(DDC) last announced its earnings results on Jun 8, 2016 for Fiscal Year 2017 and Q1.Earnings per share were $-0.01. Analysts had estimated an EPS of $-0.03.

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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