Desjardins lowered shares of Primero Mining Corp. (NYSE:PPP) from a buy rating to a hold rating in a report published on Wednesday.

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.

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