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

Several equities analysts have recently issued reports on PPP shares. Canaccord Genuity raised shares of Primero Mining Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.50 to $4.00 in a research note on Friday, June 17th. Scotiabank reaffirmed a “sector perform” rating and issued a $2.75 price objective (down previously from $3.00) on shares of Primero Mining Corp. in a research note on Tuesday, April 19th. Zacks Investment Research cut shares of Primero Mining Corp. from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 19th. Cormark reaffirmed a “market perform” rating on shares of Primero Mining Corp. in a research note on Tuesday, April 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Primero Mining Corp. from $2.25 to $3.00 in a research note on Tuesday, April 12th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Primero Mining Corp. has an average rating of “Buy” and a consensus price target of C$3.32.

The stock’s market capitalization is $418.32 million. The company has a 50-day moving average of $1.97 and a 200 day moving average of $1.93.

Primero Mining Corp. (NYSE:PPP) last issued its earnings results on Wednesday, May 4th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The firm earned $50.50 million during the quarter, compared to analyst estimates of $42.54 million. The firm’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, equities analysts predict that Primero Mining Corp. will post $0.01 EPS for the current year.

Several large investors have recently modified their holdings of PPP. I.G. Investment Management LTD. increased its stake 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 in the last quarter. Morgan Stanley increased its stake 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 in the last quarter. OppenheimerFunds Inc. increased its stake 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 in the last quarter. Finally, Alps Advisors Inc. increased its stake 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 in the last quarter.

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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