Primero Mining Corp. (PPP) Trading 4.1% Higher
Shares of Primero Mining Corp. (NYSE:PPP) traded up 4.1% during mid-day trading on Wednesday . The stock traded as high as $2.28 and last traded at $2.26, with a volume of 1,137,360 shares changing hands. The stock had previously closed at $2.17.
Several analysts have issued reports on the stock. Desjardins downgraded shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Zacks Investment Research downgraded shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $3.20 price target on shares of Primero Mining Corp. in a report on Thursday, June 30th. Scotiabank reissued a “sector perform” rating and set a $3.50 price objective on shares of Primero Mining Corp. in a research note on Monday, June 27th. Finally, Canaccord Genuity raised shares of Primero Mining Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.50 to $4.00 in a research note on Friday, June 17th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of C$3.32.
The firm’s market capitalization is $373.86 million. The stock has a 50 day moving average of $2.16 and a 200-day moving average of $1.93.
Primero Mining Corp. (NYSE:PPP) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 business’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. On average, equities research analysts forecast that Primero Mining Corp. will post ($0.02) EPS for the current fiscal year.
An institutional investor recently raised its position in Primero Mining Corp. stock. I.G. Investment Management LTD. increased its stake in Primero Mining Corp. (NYSE:PPP) by 8.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,066,161 shares of the company’s stock after buying an additional 84,606 shares during the period. I.G. Investment Management LTD. owned 0.66% of Primero Mining Corp. worth $2,405,000 at the end of the most recent reporting 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 River‐ Matheson, Ontario, Canada.
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