Mountain Province Diamonds (NASDAQ:MPVD) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Mountain Province Diamonds (NASDAQ:MPVD) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

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. “

Separately, ValuEngine lowered shares of Mountain Province Diamonds from a hold rating to a sell rating in a research report on Wednesday, September 4th.

Shares of MPVD stock opened at $0.76 on Tuesday. Mountain Province Diamonds has a fifty-two week low of $0.73 and a fifty-two week high of $2.25. The stock’s 50-day moving average is $0.89 and its two-hundred day moving average is $0.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.90 and a quick ratio of 0.92. The firm has a market cap of $166.01 million, a P/E ratio of 12.67 and a beta of 0.06.

Mountain Province Diamonds (NASDAQ:MPVD) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $71.60 million during the quarter. Mountain Province Diamonds had a return on equity of 0.54% and a net margin of 0.03%. As a group, research analysts expect that Mountain Province Diamonds will post 0.16 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in shares of Mountain Province Diamonds in the 2nd quarter valued at approximately $32,000. Morgan Stanley grew its holdings in Mountain Province Diamonds by 27.7% during the second quarter. Morgan Stanley now owns 92,091 shares of the company’s stock valued at $95,000 after purchasing an additional 19,971 shares during the last quarter. Tiedemann Advisors LLC acquired a new position in Mountain Province Diamonds during the second quarter valued at approximately $4,120,000. Allianz Asset Management GmbH bought a new position in shares of Mountain Province Diamonds in the second quarter valued at approximately $953,000. Finally, Toronto Dominion Bank raised its position in shares of Mountain Province Diamonds by 66.6% in the first quarter. Toronto Dominion Bank now owns 33,106 shares of the company’s stock valued at $29,000 after purchasing an additional 13,240 shares during the period. Hedge funds and other institutional investors own 4.20% of the company’s stock.

Mountain Province Diamonds Company Profile

Mountain Province Diamonds Inc, through its subsidiaries, focuses on the mining and marketing of rough diamonds worldwide. Its primary asset is its 49% interest in the Gahcho Kué diamond mine located in the Northwest Territories, Canada. The company was formerly known as Mountain Province Mining Inc and changed its name to Mountain Province Diamonds Inc in October 2000.

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