Primero Mining Corp (NYSE:PPP) (TSE:P) released its earnings results on Thursday. The basic materials company reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02), MarketWatch Earnings reports. Primero Mining Corp had a negative return on equity of 2.18% and a negative net margin of 100.69%. The firm had revenue of $16.23 million during the quarter, compared to analysts’ expectations of $44.64 million. During the same period in the previous year, the firm posted ($0.02) EPS. Primero Mining Corp’s revenue for the quarter was down 61.9% on a year-over-year basis.

Shares of Primero Mining Corp (NYSE:PPP) opened at 0.1981 on Friday. The stock’s market capitalization is $38.00 million. The firm’s 50-day moving average price is $0.34 and its 200-day moving average price is $0.51. Primero Mining Corp has a one year low of $0.18 and a one year high of $1.86.

Several hedge funds have recently made changes to their positions in the stock. Global X Management Co. LLC increased its stake in shares of Primero Mining Corp by 1.6% in the second quarter. Global X Management Co. LLC now owns 2,462,368 shares of the basic materials company’s stock valued at $853,000 after buying an additional 37,601 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Primero Mining Corp by 17.2% in the first quarter. Renaissance Technologies LLC now owns 3,136,725 shares of the basic materials company’s stock valued at $1,725,000 after buying an additional 461,300 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Primero Mining Corp by 31.3% in the first quarter. Van ECK Associates Corp now owns 23,471,756 shares of the basic materials company’s stock valued at $12,909,000 after buying an additional 5,600,386 shares in the last quarter. Institutional investors own 43.75% of the company’s stock.

PPP has been the subject of several analyst reports. Royal Bank Of Canada set a $1.00 target price on Primero Mining Corp and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Desjardins downgraded Primero Mining Corp from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. ValuEngine downgraded Primero Mining Corp from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research downgraded Primero Mining Corp from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Primero Mining Corp currently has a consensus rating of “Hold” and a consensus price target of $1.67.

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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.

Earnings History for Primero Mining Corp (NYSE:PPP)

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