Intact Investment Management Inc. reduced its holdings in shares of Mountain Province Diamonds, Inc. (NASDAQ:MPVD) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 558,000 shares of the company’s stock after selling 104,300 shares during the quarter. Intact Investment Management Inc. owned 0.27% of Mountain Province Diamonds worth $1,512,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank bought a new position in Mountain Province Diamonds during the second quarter worth $686,000. First Manhattan Co. lifted its stake in Mountain Province Diamonds by 10.3% during the second quarter. First Manhattan Co. now owns 290,153 shares of the company’s stock worth $710,000 after purchasing an additional 27,027 shares during the last quarter. CIBC World Markets Inc. lifted its stake in Mountain Province Diamonds by 163.6% during the first quarter. CIBC World Markets Inc. now owns 109,267 shares of the company’s stock worth $268,000 after purchasing an additional 67,819 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Mountain Province Diamonds during the third quarter worth $154,000. Institutional investors own 11.56% of the company’s stock.
MPVD stock opened at $1.71 on Wednesday. The company has a current ratio of 3.27, a quick ratio of 1.04 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $373.81 million, a price-to-earnings ratio of 24.71 and a beta of 0.22. Mountain Province Diamonds, Inc. has a 1 year low of $1.71 and a 1 year high of $3.00.
Several brokerages recently issued reports on MPVD. BidaskClub upgraded Mountain Province Diamonds from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research cut Mountain Province Diamonds from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, BMO Capital Markets upgraded Mountain Province Diamonds from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 23rd.
Mountain Province Diamonds Profile
Mountain Province Diamonds Inc, through its wholly owned subsidiaries, focuses on the mining and marketing of rough diamonds worldwide. The company's primary asset is its 49% interest in the Gahcho Kué project comprising four mining leases covering an area of approximately 10,353 acres located in the Northwest Territories, Canada.
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