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Dominion Diamond Corporation (DDC)

  • Jul. 9, 2014, 11:42 AM
  • Mar. 25, 2013, 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.
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  • Jan. 17, 2013, 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.
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  • Jan. 14, 2013, 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%.
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  • Jan. 14, 2013, 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.
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  • Jan. 14, 2013, 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%
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  • Jan. 14, 2013, 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.
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  • Dec. 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.
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  • Nov. 16, 2012, 9:58 AM
    Harry Winston Diamond (HWD -2%) shareholders may want to keep an eye open for fireworks ahead, as self-proclaimed activist hedge fund Starboard Value stated in a filing that it owned 1.3M HWD shares as of Sept. 30, or ~1.5% of the company. Starboard has engaged in 45 proxy fights since 1999, but has kept silent so far on its HWD stake.
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  • Nov. 13, 2012, 9:57 AM
    Harry Winston Diamond (HWD -2.1%) agrees to buy BHP Billiton’s (BHP -1.2%) diamonds business for $500M, as BHP elects to get out of the diamond business because it could not build up enough scale to make it worthwhile. The deal includes BHP’s 80% stake in the rich Ekati diamond mine in the Northwest Territories, along with its diamond marketing business.
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  • Oct. 18, 2012, 3:45 PM
    Harry Winston Diamond (HWD -4.5%) gives back much of yesterday's gains after CEO Frederic de Narp denies reports the company is looking to sell its watch and jewelry business.
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  • Oct. 17, 2012, 11:17 AM
    Harry Winston Diamond (HWD +7%) is looking to sell its watch and jewelry business to concentrate on its mining business, and has been approaching potential buyers such as luxury groups LVMH and PPR, Reuters reports. HWD, which owns 40% of Canada's Diavik diamond mine, posted a lower quarterly profit and said luxury demand has slowed.
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  • Oct. 16, 2012, 9:42 AM
    In its Q3 production update, Harry Winston (HWD -1.9%) says its Diavik diamond mine produced 1.93M carats from 520K metric tons of ore processed. Production was unchanged from a year ago, but the amount of ore processed fell 19%. HWD says its full-year production target is now ~7.4M carats, down from its previous view of 8.3M.
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  • Aug. 6, 2012, 3:52 PM
    Harry Winston (HWD +2.2%) has secured bank financing for a potential deal to buy the Ekati diamond mine from BHP Billiton (BHP +0.7%), but the sale process has moved slowly and may still break down, FT reports. Complicating things is Rio Tinto's (RIO) nearby mine it may want to sell; HWD owns a 40% stake and may decide to pick up the remaining 60%, but it can't afford to do both deals.
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  • Jun. 6, 2012, 5:42 PM
    Harry Winston Diamond (HWD): Q1 EPS of $0.14 misses by $0.07. Revenue of $192.5M (+33.8% Y/Y) beats by $49M. Shares -4.3% AH. (PR)
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  • Mar. 27, 2012, 1:44 PM
    Harry Winston (HWD -5.6%) dips after BMO cut the shares to Market Perform on valuation, citing its less than stellar Rio Diamond review.
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Company Description
Dominion Diamond Corp is engaged in the mining and marketing of rough diamonds. The Company supplies rough diamonds to the global market from its operation of the Ekati Diamond Mine andthe Diavik Diamond Minelocated at Lac de Gras in Canada.