Mountain Province Diamonds, Inc. (NASDAQ:MPVD) shares shot up 16% during mid-day trading on Wednesday . The company traded as high as $2.18 and last traded at $2.18. 684,627 shares were traded during trading, an increase of 1,134% from the average session volume of 55,485 shares. The stock had previously closed at $1.88.
A number of brokerages have issued reports on MPVD. Zacks Investment Research cut Mountain Province Diamonds from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. BidaskClub raised Mountain Province Diamonds from a “sell” rating to a “hold” rating in a report on Saturday, June 23rd. Finally, BMO Capital Markets raised Mountain Province Diamonds from a “market perform” rating to an “outperform” rating in a report on Thursday, August 23rd.
The firm has a market cap of $441.01 million, a PE ratio of 23.50 and a beta of 0.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.27 and a quick ratio of 1.04.
Mountain Province Diamonds (NASDAQ:MPVD) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $76.78 million during the quarter. Mountain Province Diamonds had a return on equity of 3.63% and a net margin of 1.94%. On average, equities analysts anticipate that Mountain Province Diamonds, Inc. will post 0.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Monday, September 10th were issued a dividend of $0.031 per share. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 5.69%. Mountain Province Diamonds’s payout ratio is presently 150.00%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank acquired a new stake in shares of Mountain Province Diamonds in the second quarter valued at $686,000. CIBC World Markets Inc. increased its stake in shares of Mountain Province Diamonds by 163.6% in the first quarter. CIBC World Markets Inc. now owns 109,267 shares of the company’s stock valued at $268,000 after buying an additional 67,819 shares in the last quarter. Barclays PLC increased its stake in shares of Mountain Province Diamonds by 14.3% in the first quarter. Barclays PLC now owns 478,341 shares of the company’s stock valued at $1,172,000 after buying an additional 60,000 shares in the last quarter. Finally, First Manhattan Co. increased its stake in shares of Mountain Province Diamonds by 10.3% in the second quarter. First Manhattan Co. now owns 290,153 shares of the company’s stock valued at $710,000 after buying an additional 27,027 shares in the last quarter. 11.57% of the stock is owned by institutional investors.
Mountain Province Diamonds Company Profile (NASDAQ:MPVD)
Mountain Province Diamonds Inc, through its wholly owned subsidiaries, focuses on the mining and marketing of rough diamonds worldwide. The company's primary asset is its 49% interest in the Gahcho Kué project comprising four mining leases covering an area of approximately 10,353 acres located in the Northwest Territories, Canada.
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