Mountain Province Diamonds (NASDAQ:MPVD) Upgraded to “Outperform” by BMO Capital Markets
BMO Capital Markets upgraded shares of Mountain Province Diamonds (NASDAQ:MPVD) from a market perform rating to an outperform rating in a report issued on Thursday, August 23rd, Marketbeat.com reports.
Several other research analysts also recently commented on MPVD. ValuEngine upgraded Mountain Province Diamonds from a sell rating to a hold rating in a report on Thursday, May 3rd. BidaskClub upgraded Mountain Province Diamonds from a sell rating to a hold rating in a report on Friday, May 18th. Finally, Zacks Investment Research upgraded Mountain Province Diamonds from a hold rating to a buy rating and set a $3.00 price target on the stock in a report on Friday, May 25th.
Shares of NASDAQ:MPVD traded up $0.05 during trading on Thursday, hitting $2.00. The company had a trading volume of 19,349 shares, compared to its average volume of 45,452. Mountain Province Diamonds has a one year low of $1.75 and a one year high of $3.42. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.27 and a quick ratio of 1.04. The firm has a market capitalization of $409.51 million, a price-to-earnings ratio of 27.86 and a beta of 0.22.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Monday, September 10th will be issued a $0.031 dividend. The ex-dividend date is Friday, September 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 6.20%. Mountain Province Diamonds’s dividend payout ratio is presently 150.00%.
Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Mountain Province Diamonds in the 4th quarter worth $116,000. Private Advisor Group LLC acquired a new stake in Mountain Province Diamonds during the 1st quarter worth about $193,000. CIBC World Markets Inc. lifted its position in Mountain Province Diamonds by 163.6% during the 1st quarter. CIBC World Markets Inc. now owns 109,267 shares of the company’s stock worth $268,000 after acquiring an additional 67,819 shares during the period. Swiss National Bank acquired a new stake in Mountain Province Diamonds during the 2nd quarter worth about $686,000. Finally, First Manhattan Co. lifted its position in 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 acquiring an additional 27,027 shares during the period. 11.78% 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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