Zacks Investment Research Downgrades Mountain Province Diamonds Inc. (MPVD) to Hold

Mountain Province Diamonds Inc. (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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) opened at 3.45 on Friday. The firm’s market capitalization is $552.80 million. The firm has a 50-day moving average of $3.63 and a 200 day moving average of $3.36. Mountain Province Diamonds has a 52 week low of $2.55 and a 52 week high of $5.52.

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A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada bought a new stake in Mountain Province Diamonds in the second quarter valued at $29,599,000. JPMorgan Chase & Co. bought a new stake in Mountain Province Diamonds in the second quarter valued at $16,448,000. Capital Research Global Investors bought a new stake in Mountain Province Diamonds in the second quarter valued at $14,853,000. Prudential PLC bought a new stake in Mountain Province Diamonds in the second quarter valued at $14,806,000. Finally, Commonwealth Bank of Australia bought a new stake in Mountain Province Diamonds in the second quarter valued at $14,614,000. 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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