Primero Mining Corp. (NYSE:PPP) has received an average rating of “Hold” from the thirteen brokerages that are covering the firm. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$3.26.

A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Desjardins downgraded Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $3.20 price target on shares of Primero Mining Corp. in a research note on Thursday, June 30th. Scotiabank reaffirmed a “sector perform” rating and set a $3.50 price target on shares of Primero Mining Corp. in a research note on Monday, June 27th. Finally, Canaccord Genuity raised Primero Mining Corp. from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.50 to $4.00 in a research note on Friday, June 17th.

Primero Mining Corp. (NYSE:PPP) traded down 4.717% during mid-day trading on Tuesday, hitting $1.515. The stock had a trading volume of 1,084,754 shares. Primero Mining Corp. has a 1-year low of $1.41 and a 1-year high of $3.16. The firm’s 50-day moving average price is $1.65 and its 200-day moving average price is $1.87. The stock’s market cap is $284.42 million.

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

Institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its position in Primero Mining Corp. by 294.1% in the first quarter. Canada Pension Plan Investment Board now owns 1,121,800 shares of the company’s stock valued at $2,047,000 after buying an additional 837,142 shares in the last quarter. Renaissance Technologies LLC raised its position in Primero Mining Corp. by 187.5% in the first quarter. Renaissance Technologies LLC now owns 639,125 shares of the company’s stock valued at $1,157,000 after buying an additional 416,812 shares in the last quarter. Credit Agricole S A raised its position in Primero Mining Corp. by 41.3% in the first quarter. Credit Agricole S A now owns 1,036,000 shares of the company’s stock valued at $1,875,000 after buying an additional 303,000 shares in the last quarter. Global X Management Co. LLC raised its position in Primero Mining Corp. by 0.3% in the second quarter. Global X Management Co. LLC now owns 2,340,781 shares of the company’s stock valued at $4,848,000 after buying an additional 5,918 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Primero Mining Corp. during the second quarter valued at about $1,345,000. 53.07% of the stock is owned by institutional investors.

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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