Dominion Diamond Corporation shares soar amid positive outlook for 2018 [CBC (Canadian Broadcasting Corporation)]
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Source: CBC
Dominion Diamond Corporation shares soar amid positive outlook for 2018 Company projects sales growth of 62 per cent for fiscal 2018 Shares in Dominion Diamond Corporation soared 12 per cent Friday after the company reported strong sales guidance for fiscal 2018. The company operates the Ekati diamond mine 310 kilometres northeast of Yellowknife, and owns 40 per cent of the Diavik diamond mine. Dominion expects sales between $875 million and $975 million for the year ending January 31, 2018. That's up 62 per cent from the previous year, according to a news release issued by the company. "They are going to be selling more diamonds than I expected this year," said Paul Zimnisky, analyst. "The average price per carat is going to be a little bit lower, but when you put everything together, the earnings number is higher than most expected. And that's why the stock is up." "Forecasts for fiscal 2018 are driven by high value productionâ?S as Ekati moves to the first full year of the new phas
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