Primero Mining Corp. New Downgraded by Cantor Fitzgerald to “Hold” (PPP)
Primero Mining Corp. New (NYSE:PPP) was downgraded by investment analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Primero Mining Corp. New (NYSE:PPP) traded up 1.39% on Friday, hitting $6.58. The stock had a trading volume of 299,545 shares. Primero Mining Corp. New has a 52 week low of $4.06 and a 52 week high of $6.77. The stock’s 50-day moving average is $5.28 and its 200-day moving average is $5.25. The company has a market cap of $761.2 million and a P/E ratio of 20.54.
Primero Mining Corp. New (NYSE:PPP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.03 by $0.02. The company had revenue of $47.70 million for the quarter, compared to the consensus estimate of $41.29 million. Primero Mining Corp. New’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Primero Mining Corp. New will post $0.34 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Mackie downgraded shares of Primero Mining Corp. New from a “buy” rating to a “hold” rating in a research note on Friday. Analysts at Desjardins initiated coverage on shares of Primero Mining Corp. New in a research note on Tuesday, December 10th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $8.75.
Primero Mining Corp. (NYSE:PPP) is a precious metals producer with operations in Mexico.
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