Shares of Mountain Province Diamonds Inc. (NASDAQ:MDM) have earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Mountain Province Diamonds’ rating score has declined by 100% in the last three months as a result of a number of analysts’ ratings changes.
Analysts have set a 1-year consensus price target of $5.00 for the company, according to Zacks. Zacks has also given Mountain Province Diamonds an industry rank of 37 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently weighed in on the company. National Bank Financial restated a “sector perform” rating on shares of Mountain Province Diamonds in a report on Tuesday, September 27th. Scotiabank restated an “outperform” rating and issued a $7.50 price objective (up previously from $7.00) on shares of Mountain Province Diamonds in a report on Thursday, August 4th. Zacks Investment Research upgraded Mountain Province Diamonds from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Saturday, July 30th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Mountain Province Diamonds in a report on Monday, June 13th.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Mountain Province Diamonds by 1.2% in the second quarter. Royal Bank of Canada now owns 7,087,872 shares of the company’s stock worth $32,604,000 after buying an additional 84,923 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Mountain Province Diamonds by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 5,616,873 shares of the company’s stock worth $25,838,000 after buying an additional 860,452 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Mountain Province Diamonds during the second quarter worth approximately $23,583,000. I.G. Investment Management LTD. boosted its position in Mountain Province Diamonds by 2.3% in the second quarter. I.G. Investment Management LTD. now owns 1,302,876 shares of the company’s stock worth $6,021,000 after buying an additional 29,200 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in Mountain Province Diamonds during the second quarter worth approximately $2,335,000. Institutional investors and hedge funds own 22.21% of the company’s stock.
Mountain Province Diamonds (NASDAQ:MDM) opened at 5.24 on Friday. The firm has a 50-day moving average price of $5.11 and a 200 day moving average price of $4.62. The firm’s market cap is $837.24 million. Mountain Province Diamonds has a 12-month low of $2.47 and a 12-month high of $5.52.
About Mountain Province Diamonds
Mountain Province Diamonds Inc (MPV) is a natural resource property exploration and development company. The Company holds approximately 49% interest in the Gahcho Kue Property. Its Gahcho Kue Property is located in the Northwest Territories (NWT) of Canada, in the District of Mackenzie, approximately 300 kilometers east-northeast of Yellowknife and over 80 kilometers east-southeast of the existing Snap Lake Mine.
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