Primero Mining Corp. (NYSE:PPP)’s share price fell 3.8% during mid-day trading on Thursday . The company traded as low as $2.40 and last traded at $2.50, with a volume of 806,677 shares changing hands. The stock had previously closed at $2.60.

A number of brokerages have issued reports on PPP. Scotiabank reaffirmed a “sector perform” rating and issued a $2.75 price objective (down from $3.00) on shares of Primero Mining Corp. in a research note on Tuesday, April 19th. Paradigm Capital reaffirmed a “buy” rating and issued a $3.75 price objective (down from $4.50) on shares of Primero Mining Corp. in a research note on Saturday, May 7th. Cormark reaffirmed a “market perform” rating on shares of Primero Mining Corp. in a research note on Tuesday, April 19th. Royal Bank Of Canada raised their price objective on shares of Primero Mining Corp. from $2.25 to $3.00 in a research note on Tuesday, April 12th. Finally, Zacks Investment Research cut shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Primero Mining Corp. presently has an average rating of “Buy” and an average price target of C$3.32.

The company’s market cap is $406.79 million. The company has a 50 day moving average price of $1.93 and a 200 day moving average price of $1.93.

Primero Mining Corp. (NYSE:PPP) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The business earned $50.50 million during the quarter, compared to analyst estimates of $42.54 million. The company’s revenue was down 31.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. Equities research analysts predict that Primero Mining Corp. will post $0.01 EPS for the current year.

A number of institutional investors have made changes to their positions in the stock. OppenheimerFunds Inc. boosted its position in shares of Primero Mining Corp. by 10.3% in the fourth quarter. OppenheimerFunds Inc. now owns 3,630,000 shares of the company’s stock valued at $8,185,000 after buying an additional 340,000 shares during the period. Alps Advisors Inc. boosted its position in shares of Primero Mining Corp. by 1.3% in the fourth quarter. Alps Advisors Inc. now owns 1,196,161 shares of the company’s stock valued at $2,727,000 after buying an additional 15,710 shares during the period. I.G. Investment Management LTD. boosted its position in shares of Primero Mining Corp. by 8.6% in the fourth quarter. I.G. Investment Management LTD. now owns 1,066,161 shares of the company’s stock valued at $2,405,000 after buying an additional 84,606 shares during the period. Finally, Morgan Stanley boosted its position in shares of Primero Mining Corp. by 1.9% in the fourth quarter. Morgan Stanley now owns 940,271 shares of the company’s stock valued at $2,144,000 after buying an additional 17,496 shares during the period.

Primero Mining Corp. is a Canada-based precious metals producer. The Company is focused on building a portfolio of precious metals assets in the Americas through acquiring, exploring, developing and operating mineral resource properties. It operates in the Mexico and Canada segments. It owns two producing properties: the San Dimas gold-silver mine, located in Mexico’s San Dimas district, on the border of Durango and Sinaloa states and the Black Fox mine located in the Township of Black RiverÔÇÉ Matheson, Ontario, Canada.

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