| Mountain Province Diamonds (MDM) is Oversold: Can It Recover? - Tale of the Tape | |
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Mountain Province Diamonds, Inc. (MDM) has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock. And for technical investors there is some hope when looking at MDM given that, according to its RSI reading of 29.77, it is now in oversold territory.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet, MDM’s low RSI value isn’t the only reason to have some optimism over a coming turnaround, as there has been plenty of positive earnings estimate revision activity as of late. This is especially true when investors take a deep dive into some of these estimate revision stats and recent changes to Mountain Province Diamonds’ earnings consensus.
Over the past two months, investors have seen 1 earnings estimate revision move higher, compared with one lower, at least when looking at the key current year time frame. And the consensus estimate for MDM has also been on an upward trend over the past 60 days, as estimates have risen from -$0.05/share two months ago to just -$0.04/share right now.
If this wasn’t enough, Mountain Province Diamonds also has a Zacks Rank #2 (Buy) which puts it into rare company among its peers. So, given all of these factors, investors may want to consider getting in on this stock now (or holding on), as there are some favorable trends that could bubble up for this stock before long.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MTN PROV DMND (MDM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Mountain Province Diamonds Inc
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DEVELOPMENT STAGE |
CODE : MDM |
ISIN : CA62426E4022 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Mountain Province Diamonds is a diamonds exploration company based in Canada. Mountain Province Diamonds develops diamonds and gold in Canada, and holds various exploration projects in Canada. Its main asset in development is BAFFIN ISLAND in Canada and its main exploration properties are BORDEN, GAHCHO KUÉ, TELEGRAPH, KETZA RIVER (EVE / WHITE / WHYTE) and SPRINGTIME in Canada. Mountain Province Diamonds is listed in Canada and in United States of America. Its market capitalisation is US$ 230.7 millions as of today (€ 219.1 millions). Its stock quote reached its lowest recent point on February 27, 2009 at US$ 0.54, and its highest recent level on September 18, 2009 at US$ 9.84. Mountain Province Diamonds has 45 240 000 shares outstanding. |