Primero Mining Corp. (PPP) Stock Price Down 1.7%
Primero Mining Corp. (NYSE:PPP)’s share price fell 1.7% on Wednesday . The company traded as low as $2.23 and last traded at $2.26, with a volume of 453,127 shares traded. The stock had previously closed at $2.30.
A number of brokerages recently weighed in on PPP. Desjardins lowered shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Zacks Investment Research lowered shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $3.20 price objective on shares of Primero Mining Corp. in a report on Thursday, June 30th. Scotiabank restated a “sector perform” rating and issued a $3.50 price objective on shares of Primero Mining Corp. in a report on Monday, June 27th. Finally, Canaccord Genuity upgraded shares of Primero Mining Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $4.00 in a report 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. Primero Mining Corp. presently has an average rating of “Hold” and a consensus price target of C$3.32.
The stock’s 50 day moving average price is $2.22 and its 200 day moving average price is $1.93. The firm’s market capitalization is $363.97 million.
A hedge fund recently raised its stake in Primero Mining Corp. stock. OppenheimerFunds Inc. raised its position in shares of Primero Mining Corp. (NYSE:PPP) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,630,000 shares of the company’s stock after buying an additional 340,000 shares during the period. OppenheimerFunds Inc. owned 2.23% of Primero Mining Corp. worth $8,185,000 as of its most recent SEC filing.
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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