Mountain Province Diamonds Inc. (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

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. “

Mountain Province Diamonds (MPVD) opened at 3.45 on Friday. The company’s 50 day moving average price is $3.63 and its 200-day moving average price is $3.36. Mountain Province Diamonds has a 12-month low of $2.55 and a 12-month high of $5.52. The stock’s market cap is $552.80 million.

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Several large investors have recently made changes to their positions in the stock. Scotia Capital Inc. bought a new stake in shares of Mountain Province Diamonds during the 2nd quarter valued at about $202,000. Prudential PLC bought a new stake in shares of Mountain Province Diamonds during the 2nd quarter valued at about $14,806,000. Royal Bank of Canada bought a new stake in shares of Mountain Province Diamonds during the 2nd quarter valued at about $29,599,000. Capital Research Global Investors bought a new stake in shares of Mountain Province Diamonds during the 2nd quarter valued at about $14,853,000. Finally, FIL Ltd bought a new stake in shares of Mountain Province Diamonds during the 2nd quarter valued at about $6,294,000. 26.33% of the stock is owned by institutional investors and hedge funds.

About Mountain Province Diamonds

Mountain Province Diamonds Inc is a resource company. The Company is focused on the mining and marketing of rough diamonds to the global market. The Company holds interests in the GK Diamond Mine. The GK Diamond Mine is located in the Northwest Territories (NWT) of Canada, in the District of Mackenzie, 300 kilometers east-northeast of Yellowknife and 80 kilometers east-southeast of the Snap Lake Mine.

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