Primero Mining Corp. (NYSE:PPP) issued its quarterly earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. The company earned $57.01 million during the quarter, compared to the consensus estimate of $72.94 million. Primero Mining Corp. had a negative return on equity of 1.50% and a negative net margin of 52.32%. The firm’s quarterly revenue was down 28.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS.

Primero Mining Corp. (NYSE:PPP) opened at 0.9121 on Friday. The company’s market cap is $171.23 million. Primero Mining Corp. has a 52-week low of $0.90 and a 52-week high of $2.73. The stock’s 50 day moving average is $1.48 and its 200 day moving average is $1.79.

Earnings History for Primero Mining Corp. (NYSE:PPP)

A number of large investors have recently made changes to their positions in PPP. Sentry Investments Corp. boosted its stake in Primero Mining Corp. by 3.6% in the second quarter. Sentry Investments Corp. now owns 13,998,676 shares of the company’s stock valued at $37,656,000 after buying an additional 483,440 shares in the last quarter. 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 valued at $27,753,000 after buying an additional 2,157,004 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $21,172,000 after buying an additional 2,267,460 shares in the last quarter. Franklin Resources Inc. boosted its stake in Primero Mining Corp. by 8.1% in the second quarter. Franklin Resources Inc. now owns 7,730,200 shares of the company’s stock valued at $16,093,000 after buying an additional 580,000 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in 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 valued at $4,486,000 after buying an additional 351,251 shares in the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on PPP shares. Royal Bank Of Canada lowered shares of Primero Mining Corp. from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $3.25 to $2.25 in a research note on Monday, August 8th. RBC Capital Markets lowered shares of Primero Mining Corp. from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 8th. Scotiabank restated a “sector perform” rating and issued a $3.50 price target (down previously from $4.00) on shares of Primero Mining Corp. in a research note on Wednesday, August 10th. TD Securities restated a “buy” rating and issued a $3.25 price target (down previously from $3.75) on shares of Primero Mining Corp. in a research note on Wednesday, August 10th. Finally, Cantor Fitzgerald lowered shares of Primero Mining Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$3.07.

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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