Mountain Province Diamonds (MPVD) Lowered to “Sell” at Zacks Investment Research
Mountain Province Diamonds (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
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. “
Several other analysts also recently weighed in on the company. BMO Capital Markets upgraded Mountain Province Diamonds from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 23rd. BidaskClub downgraded Mountain Province Diamonds from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th.
Several hedge funds have recently made changes to their positions in the stock. Capital World Investors purchased a new stake in shares of Mountain Province Diamonds in the third quarter worth approximately $15,706,000. Private Advisor Group LLC purchased a new stake in shares of Mountain Province Diamonds in the third quarter worth approximately $194,000. Russell Investments Group Ltd. purchased a new stake in shares of Mountain Province Diamonds in the third quarter worth approximately $154,000. Swiss National Bank purchased a new stake in shares of Mountain Province Diamonds in the second quarter worth approximately $686,000. Finally, First Manhattan Co. lifted its position 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 worth $710,000 after purchasing an additional 27,027 shares in the last quarter. Institutional investors and hedge funds own 11.27% of the company’s stock.
Mountain Province Diamonds Company Profile
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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