Zacks: Mountain Province Diamonds, Inc. (MPVD) Given $5.00 Average Target Price by Brokerages

Mountain Province Diamonds, Inc. (NASDAQ:MPVD) has been assigned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. Mountain Province Diamonds’ rating score has improved by 16.5% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokerages have set a 12 month consensus price objective of $5.00 for the company, according to Zacks. Zacks has also given Mountain Province Diamonds an industry rank of 195 out of 257 based on the ratings given to related companies.

A number of brokerages have recently weighed in on MPVD. BidaskClub upgraded Mountain Province Diamonds from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research cut Mountain Province Diamonds from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, BMO Capital Markets upgraded Mountain Province Diamonds from a “market perform” rating to an “outperform” rating in a research report on Thursday, August 23rd.

Mountain Province Diamonds stock traded down $0.01 during midday trading on Monday, reaching $1.57. The company’s stock had a trading volume of 1,500 shares, compared to its average volume of 109,681. Mountain Province Diamonds has a fifty-two week low of $1.57 and a fifty-two week high of $3.00. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.04 and a current ratio of 3.27. The company has a market cap of $344.41 million, a P/E ratio of 19.35 and a beta of 0.52.

Mountain Province Diamonds (NASDAQ:MPVD) last released its earnings results on Wednesday, August 8th. The company reported $0.01 EPS for the quarter. Mountain Province Diamonds had a return on equity of 3.63% and a net margin of 1.94%. The company had revenue of $76.78 million during the quarter. Sell-side analysts predict that Mountain Province Diamonds will post 0.18 EPS for the current year.

Several hedge funds have recently made changes to their positions in MPVD. First Manhattan Co. increased its position in Mountain Province Diamonds by 10.3% during the 2nd 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. CIBC World Markets Inc. increased its position in Mountain Province Diamonds by 163.6% during the 1st quarter. CIBC World Markets Inc. now owns 109,267 shares of the company’s stock worth $268,000 after purchasing an additional 67,819 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Mountain Province Diamonds during the 3rd quarter worth about $154,000. Private Advisor Group LLC purchased a new stake in Mountain Province Diamonds during the 3rd quarter worth about $194,000. Finally, Swiss National Bank purchased a new stake in Mountain Province Diamonds during the 2nd quarter worth about $686,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Mountain Province Diamonds

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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