Mountain Province Diamonds (NASDAQ:MPVD) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of Mountain Province Diamonds (NASDAQ:MPVD) from a strong sell rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

Mountain Province Diamonds stock traded down $0.01 during midday trading on Thursday, hitting $0.95. 8,881 shares of the company’s stock were exchanged, compared to its average volume of 18,566. Mountain Province Diamonds has a 52-week low of $0.80 and a 52-week high of $2.40. The stock’s 50-day moving average price is $1.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.25 and a current ratio of 2.40. The firm has a market capitalization of $189.10 million, a P/E ratio of 15.82 and a beta of 0.05.

Mountain Province Diamonds (NASDAQ:MPVD) last posted its earnings results on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). Mountain Province Diamonds had a positive return on equity of 0.28% and a negative net margin of 5.35%. The business had revenue of $45.65 million during the quarter. As a group, research analysts expect that Mountain Province Diamonds will post 0.21 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of MPVD. Toronto Dominion Bank boosted its holdings in shares of Mountain Province Diamonds by 66.6% in the 1st quarter. Toronto Dominion Bank now owns 33,106 shares of the company’s stock worth $29,000 after purchasing an additional 13,240 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Mountain Province Diamonds in the 4th quarter worth about $51,000. Two Sigma Advisers LP purchased a new position in shares of Mountain Province Diamonds in the 4th quarter worth about $64,000. Two Sigma Investments LP purchased a new position in shares of Mountain Province Diamonds in the 4th quarter worth about $255,000. Finally, First Manhattan Co. boosted its holdings in shares of Mountain Province Diamonds by 84.1% in the 1st quarter. First Manhattan Co. now owns 439,278 shares of the company’s stock worth $386,000 after purchasing an additional 200,700 shares in the last quarter. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Mountain Province Diamonds Company Profile

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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