Primero Mining Corp. (NYSE:PPP)‘s stock had its “sector perform” rating reiterated by analysts at Scotiabank in a report released on Thursday. They presently have a $3.50 target price on the stock.

Several other brokerages also recently commented on PPP. Cantor Fitzgerald downgraded Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Royal Bank Of Canada downgraded Primero Mining Corp. from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $3.25 to $2.25 in a research note on Monday, August 8th. TD Securities restated a “buy” rating and issued a $3.25 target price (down from $3.75) on shares of Primero Mining Corp. in a research note on Wednesday, August 10th. RBC Capital Markets downgraded Primero Mining Corp. from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 8th. Finally, Canaccord Genuity upgraded Primero Mining Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $2.50 to $4.00 in a research note on Friday, June 17th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of C$3.18.

Analyst Recommendations for Primero Mining Corp. (NYSE:PPP)

Primero Mining Corp. (NYSE:PPP) traded down 4.55% during mid-day trading on Thursday, reaching $1.68. The company had a trading volume of 1,019,345 shares. The stock has a 50 day moving average price of $1.70 and a 200 day moving average price of $1.89. The company’s market capitalization is $315.39 million. Primero Mining Corp. has a one year low of $1.41 and a one year high of $3.16.

Primero Mining Corp. (NYSE:PPP) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Primero Mining Corp. had a negative return on equity of 1.50% and a negative net margin of 52.32%. The business earned $59.44 million during the quarter, compared to the consensus estimate of $83.97 million. During the same period last year, the business posted ($0.04) earnings per share. The business’s revenue was down 11.9% on a year-over-year basis. On average, equities analysts expect that Primero Mining Corp. will post ($0.06) earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Primero Mining Corp. by 40.1% in the second quarter. Bank of New York Mellon Corp now owns 10,486,764 shares of the company’s stock worth $21,813,000 after buying an additional 2,999,547 shares during the period. Van ECK Associates Corp boosted its stake in Primero Mining Corp. by 19.3% in the second quarter. Van ECK Associates Corp now owns 13,342,881 shares of the company’s stock worth $27,753,000 after buying an additional 2,157,004 shares during the period. Franklin Resources Inc. boosted its stake in Primero Mining Corp. by 38.8% in the first quarter. Franklin Resources Inc. now owns 7,150,200 shares of the company’s stock worth $13,000,000 after buying an additional 2,000,000 shares during the period. Mizuho Trust & Banking Co. Ltd. bought a new stake in Primero Mining Corp. during the second quarter worth approximately $3,701,000. Finally, Bank of Montreal Can bought a new stake in Primero Mining Corp. during the second quarter worth approximately $2,402,000. Hedge funds and other institutional investors own 53.07% of the company’s stock.

Primero Mining Corp. Company Profile

Primero Mining Corp. is a precious metals producer with operations in both Mexico and Canada. The Company is focused on building a portfolio of precious metals assets in the Americas through acquiring, exploring, developing and operating mineral resource properties. Its segments include San Dimas, Cerro del Gallo, Black Fox Complex and Corporate.

5 Day Chart for NYSE:PPP

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