Primero Mining Corp. (PPP) Downgraded by Desjardins
A number of other research firms also recently commented on PPP. Scotiabank reaffirmed a sector perform rating and issued a $3.50 price objective (down previously from $4.00) on shares of Primero Mining Corp. in a report on Wednesday, August 10th. Cantor Fitzgerald cut Primero Mining Corp. from a buy rating to a hold rating in a research note on Friday, August 5th. Royal Bank Of Canada cut Primero Mining Corp. from an outperform rating to a sector perform rating and cut their target price for the company from $3.25 to $2.25 in a research note on Monday, August 8th. Zacks Investment Research upgraded Primero Mining Corp. from a sell rating to a hold rating in a research note on Tuesday, October 25th. Finally, TD Securities reiterated a buy rating and issued a $3.25 target price (down from $3.75) on shares of Primero Mining Corp. in a research note on Wednesday, August 10th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of C$3.07.
Shares of Primero Mining Corp. (NYSE:PPP) opened at 0.8125 on Wednesday. The company has a 50-day moving average of $1.45 and a 200 day moving average of $1.79. Primero Mining Corp. has a 52-week low of $0.75 and a 52-week high of $2.73. The stock’s market cap is $152.69 million.
Primero Mining Corp. (NYSE:PPP) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. The business earned $57.01 million during the quarter, compared to analyst estimates of $72.94 million. Primero Mining Corp. had a negative return on equity of 2.83% and a negative net margin of 59.85%. The business’s revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. Equities research analysts forecast that Primero Mining Corp. will post ($0.10) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. KCG Holdings Inc. boosted its position in shares of Primero Mining Corp. by 33.1% in the third quarter. KCG Holdings Inc. now owns 79,054 shares of the company’s stock worth $131,000 after buying an additional 19,657 shares in the last quarter. Intrepid Capital Management Inc. acquired a new position in Primero Mining Corp. during the third quarter valued at $166,000. Schroder Investment Management Group boosted its position in Primero Mining Corp. by 78.4% in the third quarter. Schroder Investment Management Group now owns 1,018,382 shares of the company’s stock valued at $2,230,000 after buying an additional 447,700 shares during the period. BlackRock Group LTD boosted its position in Primero Mining Corp. by 23.8% in the third quarter. BlackRock Group LTD now owns 458,528 shares of the company’s stock valued at $761,000 after buying an additional 88,176 shares during the period. Finally, Swiss National Bank boosted its position in Primero Mining Corp. by 4.3% in the third quarter. Swiss National Bank now owns 295,300 shares of the company’s stock valued at $493,000 after buying an additional 12,200 shares during the period. 52.11% of the stock is currently owned by hedge funds and other 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.
Receive News & Stock Ratings for Primero Mining Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primero Mining Corp. and related stocks with our FREE daily email newsletter.