Mountain Province Diamonds (MPVD) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Mountain Province Diamonds (NASDAQ:MPVD) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Mountain Province Diamonds from a hold rating to a buy rating and set a $2.25 price objective on the stock in a report on Saturday, August 18th. BMO Capital Markets upgraded shares of Mountain Province Diamonds from a market perform rating to an outperform rating in a report on Thursday, August 23rd.

Shares of NASDAQ:MPVD remained flat at $$1.72 on Wednesday. 211,695 shares of the company’s stock traded hands, compared to its average volume of 108,292. Mountain Province Diamonds has a 12-month low of $1.44 and a 12-month high of $3.00. The firm has a market capitalization of $331.81 million, a P/E ratio of 21.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.04 and a current ratio of 3.27.

Mountain Province Diamonds (NASDAQ:MPVD) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.01 EPS for the quarter. Mountain Province Diamonds had a net margin of 1.94% and a return on equity of 3.63%. The firm had revenue of $76.78 million for the quarter. On average, equities research analysts expect that Mountain Province Diamonds will post 0.18 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new position in shares of Mountain Province Diamonds in the third quarter valued at $154,000. Private Advisor Group LLC acquired a new position in shares of Mountain Province Diamonds in the third quarter valued at $194,000. Swiss National Bank acquired a new position in shares of Mountain Province Diamonds in the second quarter valued at $686,000. Finally, First Manhattan Co. increased its holdings in shares of Mountain Province Diamonds by 10.3% in the second 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 during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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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