Unusual Activity Sighted in Dominion Diamond Corporation (NYSE:DDC) Shares

Vincent Carr
July 17, 2017

Scotiabank restated an "outperform" rating and issued a C$14.00 price target on shares of Dominion Diamond Corp in a research report on Monday, March 27th.

The news is somewhat surprising given that Dominion's board previously turned down a $1.1 billion bid from the Washington Companies.

DDC has been the topic of several research analyst reports.

Dominion said Washington Companies will acquire all of its outstanding common shares for US$14.25 per share in cash, higher than the USA -based company's earlier offer of US$13.50 per share. Gabelli started coverage on shares of Dominion Diamond Corporation in a research note on Monday, April 3rd. The firm had revenue of $211 million during the quarter. Zooming out to the 200-day moving average, shares have been seen trading 25.89% away from that value.

Dominion Diamond Corporation (NYSE DDC) opened at 13.48 on Wednesday. The company's quarterly revenue was up 18.3% compared to the same quarter a year ago. 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. If you are viewing this story on another site, it was illegally stolen and reposted in violation of USA and worldwide copyright & trademark laws.

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Current levels places Dominion Diamond Corporation (NYSE:DDC)'s stock about 2.97% from the 50-day high and 14.83% away from the 50-day low. During the same quarter in the previous year, the company earned ($0.01) EPS. The correct version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/07/17/royal-bank-of-canada-reaffirms-hold-rating-for-dominion-diamond-corporation-ddc-updated.html. Sei Investments Co. boosted its position in Dominion Diamond Corporation by 529.5% in the first quarter.

To: All Persons or Entities who purchased Dominion Diamond Corporation ("Dominion Diamond" or the "Company") (NYSE: DDC) stock prior to July 17, 2017. Renaissance Technologies LLC now owns 2,848,898 shares of the basic materials company's stock worth $27,577,000 after buying an additional 522,300 shares during the period. Regardless, closing prices are a useful tool that investors use to quantify changes in stock prices over time.

Under the terms of the deal, a subsidiary of The Washington Companies will purchase all of Calgary-based Dominion's outstanding common shares for $14.25 United States ($18.03 CDN) a share, the companies announced in a news release Monday. The Company is focused on the mining and marketing of rough diamonds to the global market.

"We are excited to...extend the mine life of the Ekati mine and continue partnering with Rio Tinto in the operation of the Diavik mine, while maintaining long-term employment for Dominion employees", said Washington president Lawrence R. Simkins in a statement.

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