Mountain Province Diamonds (NASDAQ:MPVD) Cut to “Hold” at Zacks Investment Research
Mountain Province Diamonds (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 (MPVD) opened at $2.80 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.08. Mountain Province Diamonds has a 52-week low of $2.45 and a 52-week high of $4.90. The firm has a market cap of $460.73, a P/E ratio of 21.54 and a beta of 0.16.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Bank of Australia purchased a new stake in shares of Mountain Province Diamonds in the second quarter worth $14,614,000. Prudential PLC purchased a new position in Mountain Province Diamonds during the second quarter valued at $14,806,000. JPMorgan Chase & Co. purchased a new position in Mountain Province Diamonds during the second quarter valued at $16,448,000. CIBC World Markets Inc. purchased a new position in Mountain Province Diamonds during the second quarter valued at $323,000. Finally, Capital Research Global Investors purchased a new position in Mountain Province Diamonds during the second quarter valued at $14,853,000. 26.19% of the stock is owned by hedge funds and other institutional investors.
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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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