Dominion Diamond Corp (DDC) is Downgraded by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 11

Dominion Diamond Corp (DDC) was Downgraded by RBC Capital Mkts to ” Sector Perform” while Lowering the Price Target of the company shares to $ 11 from a previous price target of $13 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Jun 13, 2016.

On the company’s financial health, Dominion Diamond Corp reported $-0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.52 based on the information available during the earnings call on Apr 13, 2016. Analyst had a consensus of $0.11. The company had revenue of $178.10 million for the quarter, compared to analysts expectations of $178.10 million. The company’s revenue was down -26.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Dominion Diamond Corp closed down -0.37 points or -3.32% at $10.78 with 2,79,408 shares getting traded on Friday. Post opening the session at $11.02, the shares hit an intraday low of $10.7 and an intraday high of $11.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Dominion Diamond Corp

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