Dominion Diamond Corp (DDC.TO), the world's third-largest diamond producer by market value, has agreed to a sweetened takeover offer of US$1.2 billion from The Washington Companies. After the recent moves, investors may also look to see if the stock has entered oversold or overbought territory and could be ripe for a bounce. Wall Street is only getting more bullish on the stock, with 4 of analysts who cover DDC having a buy-equivalent rating. Analyst's mean target price for DDC is $14.85 while analysts mean recommendation is 1.80.
The stock Hit its 1-year high of $13.65 on 05/11/17 and its 1-year low price of $7.92 on 09/16/16. The stock has a 50 day moving average price of $12.84 and a 200 day moving average price of $11.22.
Dominion Diamond Corporation (NYSE:DDC) commented on recent media rumours related to the Company's review of strategic alternatives. Company fiscal year is ending in January and analysts' consensus recommendation is Outperform for DDC and estimated EPS for next quarter is $ 0.40.
Management effectiveness shows return on equity and return on assets for the trailing twelve months at -1.15% and 1.03% respectively. The company had revenue of $211 million during the quarter. Over the past month the firm's stock is 2.12%, 7.32% for the last quarter, 36.85% for the past six-months and 51.46% for the previous year.
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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.
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The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. Following the transaction, the insider now directly owns 43,608 shares of the company's stock, valued at $3,808,722.72.
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The deal is expected to close in the fourth quarter of 2017, Dominion said.
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 USA ($18.03 CDN) a share, the companies announced in a news release Monday.
Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) last released its quarterly earnings results on Monday, June 12th. Dimensional Fund Advisors LP now owns 336,581 shares of the basic materials company's stock worth $3,258,000 after buying an additional 5,837 shares during the period. 39,349 shares of the stock were exchanged.
The share of Dominion Diamond Corporation (DDC) now has a value of $13.48 while the company's 52 week low is at $7.92, the shares dropped to the 52 week low on 09/16/16.
The total number of shares percentage held by insiders is about 19.88% while the number of Shares % held by institutions is 56.6%.
Dominion Diamond Corporation and The Washington Companies will enter into an arrangement agreement. The Company is focused on the mining and marketing of rough diamonds to the global market.