Mountain Province Diamonds (NASDAQ:MPVD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $2.25 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.72% from the stock’s current price.
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 equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Mountain Province Diamonds from a “sell” rating to a “hold” rating in a research note on Friday, May 18th. ValuEngine raised shares of Mountain Province Diamonds from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd.
Shares of Mountain Province Diamonds stock opened at $2.01 on Friday. Mountain Province Diamonds has a 52-week low of $1.85 and a 52-week high of $3.70. The firm has a market capitalization of $451.51 million, a PE ratio of 25.17 and a beta of 0.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.27 and a quick ratio of 1.04.
Mountain Province Diamonds (NASDAQ:MPVD) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter. Mountain Province Diamonds had a net margin of 1.94% and a return on equity of 3.63%. The company had revenue of $76.78 million during the quarter. equities research analysts forecast that Mountain Province Diamonds will post -0.1 EPS for the current year.
Several institutional investors have recently made changes to their positions in MPVD. Renaissance Technologies LLC purchased a new stake in shares of Mountain Province Diamonds in the 4th quarter valued at $116,000. Private Advisor Group LLC purchased a new stake in shares of Mountain Province Diamonds in the 1st quarter valued at $193,000. CIBC World Markets Inc. boosted its stake in shares of Mountain Province Diamonds by 163.6% in the 1st quarter. CIBC World Markets Inc. now owns 109,267 shares of the company’s stock valued at $268,000 after purchasing an additional 67,819 shares in the last quarter. Swiss National Bank purchased a new stake in shares of Mountain Province Diamonds in the 2nd quarter valued at $686,000. Finally, First Manhattan Co. boosted its stake in shares of Mountain Province Diamonds by 10.3% in the 2nd quarter. First Manhattan Co. now owns 290,153 shares of the company’s stock valued at $710,000 after purchasing an additional 27,027 shares in the last quarter. 15.21% of the stock is owned by 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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