Mountain Province Diamonds (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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. “

Shares of Mountain Province Diamonds (MPVD) opened at $2.72 on Friday. Mountain Province Diamonds has a 12 month low of $2.45 and a 12 month high of $5.45. The firm has a market capitalization of $432.67, a P/E ratio of 20.77 and a beta of 0.15. The company has a quick ratio of 0.08, a current ratio of 0.52 and a debt-to-equity ratio of 0.88.

Hedge funds have recently added to or reduced their stakes in the company. Commonwealth Bank of Australia bought a new stake in shares of Mountain Province Diamonds in the 2nd quarter valued at approximately $14,614,000. Intact Investment Management Inc. bought a new stake in shares of Mountain Province Diamonds in the 2nd quarter valued at approximately $3,207,000. Prudential PLC bought a new stake in shares of Mountain Province Diamonds in the 2nd quarter valued at approximately $14,806,000. JPMorgan Chase & Co. bought a new stake in shares of Mountain Province Diamonds in the 2nd quarter valued at approximately $16,448,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Mountain Province Diamonds in the 2nd quarter valued at approximately $323,000. Institutional investors own 26.18% of the company’s stock.

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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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