Primero Mining Corp. (PPP) Trading 0.9% Higher
Primero Mining Corp. (NYSE:PPP) shares traded up 0.9% during mid-day trading on Tuesday . The stock traded as high as $2.35 and last traded at $2.31, with a volume of 850,730 shares traded. The stock had previously closed at $2.29.
Several research analysts recently issued reports on the stock. Desjardins lowered shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Zacks Investment Research lowered shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $3.20 price target on shares of Primero Mining Corp. in a research note on Thursday, June 30th. Scotiabank reiterated a “sector perform” rating and issued a $3.50 price target on shares of Primero Mining Corp. in a research note on Monday, June 27th. Finally, Canaccord Genuity upgraded shares of Primero Mining Corp. from a “hold” rating to a “buy” rating and increased their price target for the stock from $2.50 to $4.00 in a research note on Friday, June 17th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of C$3.32.
The stock’s market capitalization is $378.80 million. The company’s 50-day moving average is $2.19 and its 200-day moving average is $1.93.
An institutional investor recently raised its position in Primero Mining Corp. stock. I.G. Investment Management LTD. boosted its stake in Primero Mining Corp. (NYSE:PPP) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.66% of Primero Mining Corp. worth $2,405,000 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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