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 (NASDAQ MPVD) traded up 3.03% on Friday, hitting $3.40. 32,472 shares of the company traded hands. The stock’s market cap is $544.79 million. The stock’s 50-day moving average is $3.55 and its 200 day moving average is $3.33. Mountain Province Diamonds has a 12 month low of $2.55 and a 12 month high of $5.52.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. purchased a new stake in Mountain Province Diamonds during the second quarter worth about $202,000. Private Advisor Group LLC purchased a new stake in Mountain Province Diamonds during the second quarter worth about $292,000. CIBC World Markets Inc. purchased a new stake in Mountain Province Diamonds during the second quarter worth about $323,000. First Manhattan Co. purchased a new stake in Mountain Province Diamonds during the second quarter worth about $819,000. Finally, TD Asset Management Inc. purchased a new stake in Mountain Province Diamonds during the second quarter worth about $937,000. 26.33% of the stock is currently owned by hedge funds and other institutional investors.

Mountain Province Diamonds Company Profile

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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