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Dominion Diamond Corporation

5/19/2013, 9:16 AM ET

Quote & Headlines Market Currents StockTalk

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| Dividends
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Tuesday, April 16, 9:33 AM Dominion Diamond (DDC) says Q1 production at its Diavik diamond mine totaled 1.9M carats, up from 1.6M a year earlier, helped by improved grades. The average grade of ore processed was 3.87 carats/metric ton vs. 3.03 in the year-ago quarter. DDC, formerly Harry Winston Diamond, sees full-year production at ~6M carats. Comment! [Commodities]
Thursday, April 4, 10:04 AM Dominion Diamond (DDC +0.2%) reports consolidated sales from continuing operations rose 8% Y/Y to $110M in FQ4 due to an improved sales mix, partially offset by a 3% drop in volume of carats sold. Operating profit from continuing operations fell 12% to $21M. Results relate solely to its mining operations after the earlier sale of its Harry Winston segment. Comment! [Commodities, Earnings]
Wednesday, April 3, 12:10 AM Notable earnings after Wednesday’s close: DDC, MIND Comment! [Earnings]
Tuesday, April 2, 5:35 PM Notable earnings after Wednesday’s close: DDC, MIND Comment! [Earnings]
Monday, April 1, 12:15 PM Dominion Diamond (DDC) - formerly Harry Winston Diamond - says it has secured all necessary regulatory approvals to acquire BHP’s Ekati diamond operations in Canada’s Northwest Territories as well as associated diamond sorting and sales facilities in Yellowknife, Canada, and Antwerp, Belgium. Comment! [Commodities]
Monday, March 25, 12:40 PM Harry Winston Diamond (HWD -1.7%) is downgraded to Market Perform by BMO due to valuation, saying the stock is trading at attractive forward EV/EBITDA multiples but also reasonably priced relative to the execution risk related to the Ekati transaction. If release of the Ekati mine plan confirms the firm's estimates and forward valuation multiples, further upside potential should be unlocked. Comment! [Commodities, Quick Ideas, On the Move]
Thursday, March 21, 10:06 AM Harry Winston Diamond (HWD) says it received all required regulatory approvals for the proposed sale of its luxury brand diamond jewelry and timepiece division to The Swatch Group. As previously announced, HWD will change its name to Dominion Diamond Corp. upon closing of the transaction, expected later this month. Comment! [Consumer, Commodities]
Monday, February 4, 2:10 PM Harry Winston (HWD +0.4%) is poised to complete the acquisition of an 80% stake in the Ekati mine after the discontinuance of a legal challenge by minority owner Chuck Fipke. HWD says all the mine’s minority owners have agreed to waive their rights of first refusal to block the transaction. Combined with the sale of its retail business, acquisition of the Ekati stake will turn HWD into a pure-play diamond mining company. Comment! [Commodities]
Friday, January 18, 12:15 PM Nomura thinks diamonds could turn out to be an investor's best friend, as shortfalls for the jewel are ongoing and not likely to end soon with few diamond exploration projects out there. Among stocks, a "refocused" De Beers (AAUKY.PK) and Harry Winston (HWD) - soon to be Dominion Diamond - are initiated at Buy. 1 Comment [Commodities, Quick Ideas]
Thursday, January 17, 12:47 PM Harry Winston Diamond’s (HWD -2.3%) $500M acquisition of a majority stake in the Ekati mine is challenged by minority owner Chuck Fipke, who discovered the property in the Northwest Territories; he claims his pre-emptive rights to buy the stake from BHP Billiton are not being upheld, and that HWD is “complicit" in the alleged non-compliance. Comment! [Commodities, On the Move]
Monday, January 14, 5:38 PM After-hours top gainers, as of 5:15 p.m.: HWD +3%. BGC +3%. GTAT +3%. ESI +2%. MHO +2%.
After-hours top losers: LULU -7%. ITMN -5%. GMAN -4%. VNM -3%. UA -2%. Comment! [On the Move]
Monday, January 14, 2:32 PM While retailing luxury goods turns over more cash, mining diamonds can be more profitable, so Harry Winston (HWD +5.4%) is getting out of the luxury retail business and returning to its mining roots. The sale means HWD is now cashed up for future purchases, and a deal to buy Rio Tinto’s (RIO) 60% stake in the Diavik mine is “an obvious one" to consider if the price is right, CEO Robert Gannicott says. Comment! [Commodities, Consumer, On the Move]
Monday, January 14, 9:09 AM Premarket gainers: AZK +29%. CUR +14%. AVNW +13%. HWD +11%. VRNT +10%. NICE +8%. FIO +6%. FRAN +6%. DNDN +5%. ALU +6%.
Losers: NTE -11%. CRUS -6%. Comment! [On the Move]
Monday, January 14, 8:12 AM Shares of Harry Winston Diamond (HWD) move up 8.9% premarket to $15.75 after Swatch Group agrees to buy the brand from HW Holdings. The move by Swatch into North America will give Tiffany (TIF), Zale (ZLC), and Signet (SIG) another rival to worry about with Swatch gaining a reliable source for diamonds for its watch business. 1 Comment [Consumer, On the Move]
Monday, January 14, 6:50 AM Swatch (SWGAY.PK) agrees to pay $750M to acquire the Harry Winston brand from Harry Winston Diamond (HWD). The Swiss company will also assume close to $250M in debt as part of the deal. Comment! [Consumer, Global & FX, M&A]
Friday, December 7, 2012, 8:26 AM Shares of Harry Winston Diamond (HWD) fall 9.1% premarket after the company boosted sales in its mining and luxury businesses during Q3 but issues guidance below the expectations of analysts. The shine might be off shares a bit after the firm revealed it wasn't in any active talks to sell itself after tipping off in October it received indications of interest. Comment! [Consumer, On the Move]