Zacks Investment Research upgraded shares of Mountain Province Diamonds Inc. (NASDAQ:MPVD) from a hold rating to a buy rating in a research report released on Tuesday. The brokerage currently has $3.75 price objective on the stock.

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 (NASDAQ:MPVD) opened at 3.40 on Tuesday. Mountain Province Diamonds has a one year low of $2.55 and a one year high of $5.52. The stock’s market cap is $544.79 million. The company’s 50-day moving average price is $3.55 and its 200-day moving average price is $3.33.

WARNING: This story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/09/16/mountain-province-diamonds-inc-mpvd-rating-increased-to-buy-at-zacks-investment-research-2.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MPVD. Scotia Capital Inc. purchased a new position in Mountain Province Diamonds during the second quarter valued at $202,000. Private Advisor Group LLC purchased a new position in Mountain Province Diamonds during the second quarter valued at $292,000. CIBC World Markets Inc. purchased a new position in Mountain Province Diamonds during the second quarter valued at $323,000. First Manhattan Co. purchased a new position in Mountain Province Diamonds during the second quarter valued at $819,000. Finally, TD Asset Management Inc. purchased a new position in Mountain Province Diamonds during the second quarter valued at $937,000. Institutional investors own 26.33% of the company’s stock.

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.

Get a free copy of the Zacks research report on Mountain Province Diamonds (MPVD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Mountain Province Diamonds Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mountain Province Diamonds Inc. and related stocks with our FREE daily email newsletter.