Zacks: Mountain Province Diamonds, Inc. (MPVD) Given $3.58 Consensus Price Target by Analysts

Shares of Mountain Province Diamonds, Inc. (NASDAQ:MPVD) have earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating. Mountain Province Diamonds’ rating score has improved by 40.1% from three months ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 12 month consensus price target of $3.58 for the company, according to Zacks. Zacks has also assigned Mountain Province Diamonds an industry rank of 55 out of 256 based on the ratings given to related companies.

Several hedge funds and other institutional investors have recently modified their holdings of MPVD. First Manhattan Co. raised its stake in shares of Mountain Province Diamonds by 84.1% during the first quarter. First Manhattan Co. now owns 439,278 shares of the company’s stock valued at $386,000 after purchasing an additional 200,700 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Mountain Province Diamonds during the fourth quarter valued at about $255,000. Ramsey Quantitative Systems bought a new stake in shares of Mountain Province Diamonds during the fourth quarter valued at about $137,000. Bank of Montreal Can raised its stake in shares of Mountain Province Diamonds by 858.4% during the fourth quarter. Bank of Montreal Can now owns 62,792 shares of the company’s stock valued at $91,000 after purchasing an additional 56,240 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Mountain Province Diamonds during the fourth quarter valued at about $64,000. Institutional investors and hedge funds own 7.93% of the company’s stock.

MPVD stock opened at $1.08 on Friday. The company has a current ratio of 2.40, a quick ratio of 0.25 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $226.92 million, a price-to-earnings ratio of 18.00 and a beta of -0.10. Mountain Province Diamonds has a 1 year low of $0.81 and a 1 year high of $2.92.

Mountain Province Diamonds (NASDAQ:MPVD) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Mountain Province Diamonds had a negative net margin of 5.35% and a positive return on equity of 0.28%. The business had revenue of $45.65 million for the quarter. As a group, analysts predict that Mountain Province Diamonds will post 0.21 EPS for the current year.

About Mountain Province Diamonds

Mountain Province Diamonds Inc, through its subsidiaries, focuses on the mining and marketing of rough diamonds worldwide. Its primary asset is its 49% interest in the Gahcho Kué diamond mine located in the Northwest Territories, Canada. The company was formerly known as Mountain Province Mining Inc and changed its name to Mountain Province Diamonds Inc in October 2000.

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