Mountain Province Diamonds Inc. (MDM) Position Decreased by Prospera Financial Services Inc
Prospera Financial Services Inc lowered its stake in Mountain Province Diamonds Inc. (NASDAQ:MDM) by 20.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,350 shares of the company’s stock after selling 25,800 shares during the period. Prospera Financial Services Inc’s holdings in Mountain Province Diamonds were worth $462,000 as of its most recent SEC filing.
Separately, CIBC World Markets Inc. increased its position in shares of Mountain Province Diamonds by 6.6% in the second quarter. CIBC World Markets Inc. now owns 64,215 shares of the company’s stock valued at $295,000 after buying an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 22.21% of the company’s stock.
Mountain Province Diamonds Inc. (NASDAQ:MDM) traded up 1.50% during midday trading on Thursday, reaching $5.41. The company’s stock had a trading volume of 49,983 shares. The stock’s market capitalization is $864.40 million. The firm has a 50-day moving average price of $5.00 and a 200 day moving average price of $4.56. Mountain Province Diamonds Inc. has a 52-week low of $2.47 and a 52-week high of $5.52.
Several brokerages have recently issued reports on MDM. Zacks Investment Research upgraded Mountain Province Diamonds from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Saturday, July 30th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Mountain Province Diamonds in a research report on Monday, June 13th. Finally, Scotiabank reiterated an “outperform” rating and set a $7.50 price objective (up from $7.00) on shares of Mountain Province Diamonds in a research report on Thursday, August 4th.
About Mountain Province Diamonds
Mountain Province Diamonds Inc (MPV) is a natural resource property exploration and development company. The Company holds approximately 49% interest in the Gahcho Kue Property. Its Gahcho Kue Property is located in the Northwest Territories (NWT) of Canada, in the District of Mackenzie, approximately 300 kilometers east-northeast of Yellowknife and over 80 kilometers east-southeast of the existing Snap Lake Mine.
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