BidaskClub Lowers Mountain Province Diamonds (MPVD) to Sell

BidaskClub downgraded shares of Mountain Province Diamonds (NASDAQ:MPVD) from a hold rating to a sell rating in a research note released on Wednesday morning.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Mountain Province Diamonds from a buy rating to a hold rating in a research report on Wednesday, July 25th. BMO Capital Markets raised shares of Mountain Province Diamonds from a market perform rating to an outperform rating in a research report on Thursday, August 23rd.

MPVD remained flat at $$1.72 during trading on Wednesday. 211,695 shares of the company’s stock were exchanged, compared to its average volume of 108,292. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.04 and a current ratio of 3.27. Mountain Province Diamonds has a 1 year low of $1.44 and a 1 year high of $3.00. The company has a market capitalization of $331.81 million, a price-to-earnings ratio of 21.50 and a beta of 0.52.

Mountain Province Diamonds (NASDAQ:MPVD) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.01 EPS for the quarter. The business had revenue of $76.78 million for the quarter. Mountain Province Diamonds had a net margin of 1.94% and a return on equity of 3.63%. As a group, research analysts forecast that Mountain Province Diamonds will post 0.18 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Swiss National Bank bought a new stake in shares of Mountain Province Diamonds in the second quarter worth $686,000. First Manhattan Co. lifted its position 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 worth $710,000 after purchasing an additional 27,027 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Mountain Province Diamonds in the third quarter worth $194,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Mountain Province Diamonds in the third quarter worth $154,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Mountain Province Diamonds Company Profile

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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