Mountain Province Diamonds (MPVD) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Mountain Province Diamonds (NASDAQ:MPVD) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Mountain Province Diamonds Inc. Diamonds is a diamond exploration and development company. It has properties located in Canada’s Northwest Territories. Mountain Province Diamonds Inc., formerly known as Mountain Province Mining Inc., is headquartered in Toronto, Ontario. “

MPVD has been the subject of several other research reports. BidaskClub upgraded shares of Mountain Province Diamonds from a sell rating to a hold rating in a research note on Tuesday, August 21st. BMO Capital Markets raised shares of Mountain Province Diamonds from a market perform rating to an outperform rating in a report on Thursday, August 23rd.

Shares of MPVD opened at $1.43 on Wednesday. Mountain Province Diamonds has a fifty-two week low of $1.16 and a fifty-two week high of $3.00. The stock has a market cap of $260.41 million, a PE ratio of 17.88 and a beta of 0.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.74 and a quick ratio of 0.59.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank purchased a new position in Mountain Province Diamonds during the second quarter worth about $686,000. Private Advisor Group LLC purchased a new position in Mountain Province Diamonds during the third quarter worth about $194,000. First Manhattan Co. raised its holdings in Mountain Province Diamonds by 10.3% during 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. Capital World Investors purchased a new position in Mountain Province Diamonds during the third quarter worth about $15,706,000. Finally, Russell Investments Group Ltd. purchased a new position in Mountain Province Diamonds during the third quarter worth about $154,000. 9.79% of the stock is owned by hedge funds and other institutional investors.

About Mountain Province Diamonds

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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