Primero Mining Corp (NYSE:PPP) (TSE:P) has been given an average rating of “Hold” by the thirteen brokerages that are currently covering the firm. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $2.86.

A number of equities analysts recently commented on PPP shares. Desjardins raised shares of Primero Mining Corp from a “hold” rating to a “buy” rating in a research report on Thursday, October 20th. Zacks Investment Research lowered shares of Primero Mining Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. Scotiabank reaffirmed a “sector perform” rating and set a $3.50 price target on shares of Primero Mining Corp in a research report on Thursday, September 22nd. RBC Capital Markets reaffirmed a “hold” rating and set a $1.20 price target on shares of Primero Mining Corp in a research report on Tuesday, January 3rd. Finally, Canaccord Genuity reissued a “buy” rating on shares of Primero Mining Corp in a report on Thursday, November 10th.

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Shares of Primero Mining Corp (NYSE:PPP) traded up 1.3173% during trading on Friday, hitting $0.7999. 600,608 shares of the stock were exchanged. The firm has a 50 day moving average price of $0.82 and a 200 day moving average price of $1.49. The firm’s market capitalization is $150.61 million. Primero Mining Corp has a 52 week low of $0.70 and a 52 week high of $2.73.

Primero Mining Corp (NYSE:PPP) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. Primero Mining Corp had a negative return on equity of 2.83% and a negative net margin of 59.85%. The business had revenue of $57.01 million for the quarter, compared to the consensus estimate of $72.94 million. During the same period in the prior year, the business posted $0.02 earnings per share. Primero Mining Corp’s revenue was down 28.0% compared to the same quarter last year. Analysts forecast that Primero Mining Corp will post ($0.17) EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of PPP. Sentry Investments Corp. increased its position in shares of Primero Mining Corp by 3.6% in the second quarter. Sentry Investments Corp. now owns 13,998,676 shares of the company’s stock worth $37,656,000 after buying an additional 483,440 shares during the period. Van ECK Associates Corp increased its position in shares of 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. Bank of New York Mellon Corp increased its position in shares of Primero Mining Corp by 21.6% in the third quarter. Bank of New York Mellon Corp now owns 12,754,224 shares of the company’s stock worth $21,172,000 after buying an additional 2,267,460 shares during the period. Franklin Resources Inc. increased its position in shares of Primero Mining Corp by 8.1% in the second quarter. Franklin Resources Inc. now owns 7,730,200 shares of the company’s stock worth $16,093,000 after buying an additional 580,000 shares during the period. Finally, Global X Management Co. LLC increased its position in shares of Primero Mining Corp by 15.0% in the third quarter. Global X Management Co. LLC now owns 2,692,032 shares of the company’s stock worth $4,486,000 after buying an additional 351,251 shares during the period. Hedge funds and other institutional investors own 56.02% of the company’s stock.

About Primero Mining Corp

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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