Mountain Province Diamonds (NASDAQ:MPVD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Shares of Mountain Province Diamonds (MPVD) traded down $0.20 on Wednesday, reaching $2.55. The company had a trading volume of 105,800 shares, compared to its average volume of 111,850. The company has a market cap of $420.65, a P/E ratio of 127.50 and a beta of 0.16. Mountain Province Diamonds has a 52 week low of $2.45 and a 52 week high of $5.35. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.08.

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Bank of Australia bought a new stake in Mountain Province Diamonds during the 2nd quarter valued at approximately $14,614,000. Prudential PLC bought a new stake in Mountain Province Diamonds in the 2nd quarter worth approximately $14,806,000. JPMorgan Chase & Co. bought a new stake in Mountain Province Diamonds in the 2nd quarter worth approximately $16,448,000. CIBC World Markets Inc. bought a new stake in Mountain Province Diamonds in the 2nd quarter worth approximately $323,000. Finally, Capital Research Global Investors bought a new stake in Mountain Province Diamonds in the 2nd quarter worth approximately $14,853,000. 26.18% of the stock is currently owned by institutional investors.

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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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