Mountain Province Diamonds (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 3rd.
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. “
Mountain Province Diamonds (NASDAQ MPVD) traded up $0.08 during mid-day trading on Wednesday, hitting $2.80. 29,400 shares of the stock traded hands, compared to its average volume of 170,438. Mountain Province Diamonds has a 1 year low of $2.45 and a 1 year high of $5.05. The stock has a market capitalization of $440.68, a price-to-earnings ratio of 140.00 and a beta of 0.16. The company has a quick ratio of 0.08, a current ratio of 0.52 and a debt-to-equity ratio of 0.88.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in Mountain Province Diamonds in the 1st quarter worth approximately $119,000. Scotia Capital Inc. purchased a new position in Mountain Province Diamonds in the 2nd quarter worth approximately $202,000. Private Advisor Group LLC purchased a new position in Mountain Province Diamonds in the 2nd quarter worth approximately $292,000. CIBC World Markets Inc. purchased a new position in Mountain Province Diamonds in the 2nd quarter worth approximately $323,000. Finally, FIL Ltd purchased a new position in Mountain Province Diamonds in the 2nd quarter worth approximately $6,294,000. Institutional investors own 26.18% of the company’s stock.
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About Mountain Province Diamonds
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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