Primero Mining Corp. (PPP) Stock Price Up 2.9%
Primero Mining Corp. (NYSE:PPP) rose 2.9% during trading on Wednesday . The stock traded as high as $2.51 and last traded at $2.50, with a volume of 574,559 shares trading hands. The stock had previously closed at $2.43.
PPP has been the subject of several research reports. Zacks Investment Research cut Primero Mining Corp. from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 19th. Scotiabank reissued a “sector perform” rating and issued a $3.00 target price (down from $3.50) on shares of Primero Mining Corp. in a research note on Sunday, March 20th. Royal Bank Of Canada lifted their target price on Primero Mining Corp. from $2.25 to $3.00 in a research note on Tuesday, April 12th. Cormark reissued a “market perform” rating on shares of Primero Mining Corp. in a research note on Tuesday, April 19th. Finally, TD Securities reissued a “buy” rating and issued a $4.00 target price (down from $5.00) on shares of Primero Mining Corp. in a research note on Tuesday, April 19th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of C$3.32.
The company has a 50 day moving average price of $2.05 and a 200 day moving average price of $1.94. The company’s market capitalization is $398.56 million.
Primero Mining Corp. (NYSE:PPP) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company earned $50.50 million during the quarter, compared to the consensus estimate of $42.54 million. The company’s quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share. Equities analysts anticipate that Primero Mining Corp. will post $0.01 EPS for the current year.
A number of large investors have added to or reduced their stakes in the company. Morgan Stanley boosted its stake in 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 last quarter. I.G. Investment Management LTD. boosted its stake in 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 last quarter. Finally, OppenheimerFunds Inc. boosted its stake in 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 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 River‐ Matheson, Ontario, Canada.
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