Zacks: Mountain Province Diamonds, Inc. (NASDAQ:MPVD) Given $2.65 Consensus Target Price by Brokerages

Mountain Province Diamonds, Inc. (NASDAQ:MPVD) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price target of $2.65 for the company, according to Zacks. Zacks has also assigned Mountain Province Diamonds an industry rank of 113 out of 255 based on the ratings given to its competitors.

A number of equities analysts have recently commented on MPVD shares. ValuEngine cut Mountain Province Diamonds from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Zacks Investment Research raised Mountain Province Diamonds from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Finally, BMO Capital Markets set a $1.50 price target on Mountain Province Diamonds and gave the stock a “buy” rating in a report on Friday, October 18th.

Shares of Mountain Province Diamonds stock traded up $0.01 during trading on Friday, reaching $0.89. 30,000 shares of the company’s stock were exchanged, compared to its average volume of 33,237. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.67 and a current ratio of 2.85. Mountain Province Diamonds has a 1-year low of $0.65 and a 1-year high of $1.31. The company has a market cap of $187.25 million, a P/E ratio of -5.93 and a beta of 0.07. The firm’s 50-day moving average price is $0.87 and its 200 day moving average price is $0.91.

Mountain Province Diamonds (NASDAQ:MPVD) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.08) EPS for the quarter. Mountain Province Diamonds had a negative return on equity of 6.67% and a negative net margin of 15.48%. The business had revenue of $41.53 million for the quarter. As a group, equities research analysts predict that Mountain Province Diamonds will post -0.06 EPS for the current year.

Several institutional investors have recently bought and sold shares of MPVD. K2 Principal Fund L.P. acquired a new position in shares of Mountain Province Diamonds during the 3rd quarter worth $3,924,000. Citadel Advisors LLC bought a new stake in Mountain Province Diamonds during the 2nd quarter worth $32,000. Finally, Morgan Stanley grew its position in Mountain Province Diamonds by 27.7% during the 2nd quarter. Morgan Stanley now owns 92,091 shares of the company’s stock worth $95,000 after acquiring an additional 19,971 shares during the last quarter. 5.84% of the stock is owned by institutional investors.

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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