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

Zacks Investment Research cut shares of Mountain Province Diamonds Inc. (NASDAQ:MPVD) from a buy rating to a hold rating in a research report sent to investors 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 (MPVD) opened at 3.25 on Friday. Mountain Province Diamonds has a 12-month low of $2.55 and a 12-month high of $5.52. The firm has a 50-day moving average of $3.51 and a 200-day moving average of $3.31. The stock’s market capitalization is $520.76 million.

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Hedge funds have recently made changes to their positions in the stock. Commonwealth Bank of Australia acquired a new stake in Mountain Province Diamonds in the 2nd quarter valued at $14,614,000. Intact Investment Management Inc. acquired a new stake in Mountain Province Diamonds in the 2nd quarter valued at $3,207,000. First Manhattan Co. acquired a new stake in Mountain Province Diamonds in the 2nd quarter valued at $819,000. CIBC World Markets Inc. acquired a new stake in Mountain Province Diamonds in the 2nd quarter valued at $323,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Mountain Province Diamonds in the 2nd quarter valued at $4,519,000. 26.33% of the stock is currently owned by institutional investors and hedge funds.

About Mountain Province Diamonds

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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