Brokerages Set $5.00 Target Price for Mountain Province Diamonds Inc. (MPVD)

Mountain Province Diamonds Inc. (NASDAQ:MPVD) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a one year consensus price target of $5.00 for the company, according to Zacks. Zacks has also given Mountain Province Diamonds an industry rank of 44 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded shares of Mountain Province Diamonds from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Tuesday, September 12th.

Shares of Mountain Province Diamonds (MPVD) opened at 2.85 on Tuesday. The stock’s market capitalization is $456.66 million. The firm has a 50-day moving average of $3.16 and a 200 day moving average of $3.21. Mountain Province Diamonds has a 1-year low of $2.55 and a 1-year high of $5.45.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada acquired a new position in shares of Mountain Province Diamonds during the second quarter valued at about $29,599,000. JPMorgan Chase & Co. acquired a new position in shares of Mountain Province Diamonds during the second quarter valued at about $16,448,000. Capital Research Global Investors acquired a new position in shares of Mountain Province Diamonds during the second quarter valued at about $14,853,000. Prudential PLC acquired a new position in shares of Mountain Province Diamonds during the second quarter valued at about $14,806,000. Finally, Commonwealth Bank of Australia acquired a new position in shares of Mountain Province Diamonds during the second quarter valued at about $14,614,000. Hedge funds and other institutional investors own 26.33% of the company’s stock.

Mountain Province Diamonds Company Profile

Mountain Province Diamonds Inc is a resource company. The Company is focused on the mining and marketing of rough diamonds to the global market. The Company holds interests in the GK Diamond Mine. The GK Diamond Mine is located in the Northwest Territories (NWT) of Canada, in the District of Mackenzie, 300 kilometers east-northeast of Yellowknife and 80 kilometers east-southeast of the Snap Lake Mine.

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