Primero Mining Corp (NYSE:PPP) (TSE:P) was downgraded by analysts at Desjardins from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, May 16th, Marketbeat Ratings reports.
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Primero Mining Corp from a “strong sell” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Wednesday, April 19th. Royal Bank of Canada set a $1.00 target price on shares of Primero Mining Corp and gave the stock a “hold” rating in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $2.45.
Primero Mining Corp (PPP) opened at 0.3382 on Tuesday. The firm’s 50-day moving average is $0.44 and its 200-day moving average is $0.64. Primero Mining Corp has a 52-week low of $0.34 and a 52-week high of $2.63. The stock’s market cap is $64.88 million.
Primero Mining Corp (NYSE:PPP) (TSE:P) last issued its quarterly earnings results on Wednesday, March 15th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Primero Mining Corp had a negative net margin of 100.69% and a negative return on equity of 2.18%. The company had revenue of $52.20 million for the quarter, compared to analyst estimates of $54.30 million. Primero Mining Corp’s revenue for the quarter was down 26.9% compared to the same quarter last year. Equities research analysts predict that Primero Mining Corp will post ($0.06) earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. OLD Mission Capital LLC raised its position in shares of Primero Mining Corp by 243.3% in the third quarter. OLD Mission Capital LLC now owns 110,696 shares of the basic materials company’s stock valued at $157,000 after buying an additional 78,448 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Primero Mining Corp by 20.9% in the first quarter. Global X Management Co. LLC now owns 2,424,767 shares of the basic materials company’s stock valued at $1,345,000 after buying an additional 418,678 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Primero Mining Corp by 17.2% in the first quarter. Renaissance Technologies LLC now owns 3,136,725 shares of the basic materials company’s stock valued at $1,725,000 after buying an additional 461,300 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Primero Mining Corp by 31.3% in the first quarter. Van ECK Associates Corp now owns 23,471,756 shares of the basic materials company’s stock valued at $12,909,000 after buying an additional 5,600,386 shares in the last quarter. Institutional investors own 44.08% of the company’s stock.
Primero Mining Corp Company Profile
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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