Canaccord Genuity Downgrades Primero Mining Corp (P) to Speculative Buy
Primero Mining Corp (TSE:P) (NYSE:PPP) was downgraded by research analysts at Canaccord Genuity from a “buy” rating to a “speculative buy” rating in a research report issued on Friday. They presently have a C$0.40 price target on the stock, down from their prior price target of C$0.90. Canaccord Genuity’s target price suggests a potential upside of 344.44% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada cut shares of Primero Mining Corp from a “sector perform” rating to an “underperform” rating in a report on Tuesday, September 5th. Scotiabank decreased their price target on shares of Primero Mining Corp from C$0.80 to C$0.25 and set a “sector perform” rating for the company in a report on Monday, August 14th. Finally, TD Securities reduced their target price on shares of Primero Mining Corp from C$0.60 to C$0.30 and set a “hold” rating for the company in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of C$0.71.
Shares of Primero Mining Corp (P) opened at 0.09 on Friday. Primero Mining Corp has a 12 month low of $0.08 and a 12 month high of $2.25. The stock’s market capitalization is $17.29 million. The stock’s 50 day moving average price is $0.18 and its 200-day moving average price is $0.50.
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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