Mountain Province Diamonds (MPVD) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Mountain Province Diamonds (NASDAQ:MPVD) from a sell rating to a hold rating in a research note published 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. “

Other research analysts have also recently issued reports about the stock. BidaskClub raised 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 research note on Thursday, August 23rd.

Shares of MPVD opened at $1.43 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.74 and a quick ratio of 0.59. Mountain Province Diamonds has a 1-year low of $1.16 and a 1-year high of $3.00. The company has a market cap of $260.41 million, a PE ratio of 17.88 and a beta of 0.49.

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors purchased a new position in shares of Mountain Province Diamonds during the 3rd quarter worth approximately $15,706,000. Private Advisor Group LLC purchased a new position in shares of Mountain Province Diamonds during the 3rd quarter worth approximately $194,000. Russell Investments Group Ltd. purchased a new position in shares of Mountain Province Diamonds during the 3rd quarter worth approximately $154,000. Swiss National Bank purchased a new position in shares of Mountain Province Diamonds during the 2nd quarter worth approximately $686,000. Finally, First Manhattan Co. increased its stake in shares of Mountain Province Diamonds by 10.3% during the 2nd 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. 9.79% of the stock is owned by institutional investors and hedge funds.

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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