Dominion Diamond Corporation says it outperformed expectations in the second quarter of this fiscal year.
It's reporting a net income of $26.6 million in the second quarter.
Dominion Diamond owns an 80 per cent share of the Ekati mine and a 40 per cent share of Diavik. It says the two N.W.T. diamond mines are performing exceptionally well.
Edward Sterck, an analyst for the Bank of Montreal in London, said he's projecting the price of Dominion Diamond's stock will rise to more than $20 a share from just over $15 today.
"Longer term, provided the permitting process goes well for [Ekati's] Jay pipe, the company could continue to be an operator for many years to come and continue to contribute to the economy of the Northwest Territories as well."
The company said it pulled 30 per cent more carats from Ekati than expected, and the price of rough diamonds rose about eight per cent.