Primero Mining Corp (PPP) Posts Quarterly Earnings, Misses Estimates By $0.03 EPS
Primero Mining Corp (NYSE:PPP) released its earnings data on Thursday. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.04 by $0.03, American Banking & Market News reports. The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $88.48 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 51.8% on a year-over-year basis.
A number of research firms have recently commented on PPP. Analysts at Zacks downgraded shares of Primero Mining Corp from a “neutral” rating to an “underperform” rating in a research note on Friday, August 1st. They now have a $7.30 price target on the stock. On the ratings front, analysts at Cantor Fitzgerald upgraded shares of Primero Mining Corp from a “hold” rating to a “buy” rating in a research note on Friday, July 25th. Finally, analysts at Canaccord Genuity downgraded shares of Primero Mining Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Primero Mining Corp presently has a consensus rating of “Hold” and a consensus target price of $7.30.
Primero Mining Corp (NYSE:PPP) traded down 4.23% during mid-day trading on Thursday, hitting $7.4698. The stock had a trading volume of 214,546 shares. Primero Mining Corp has a 52-week low of $4.27 and a 52-week high of $8.47. The stock has a 50-day moving average of $7.82 and a 200-day moving average of $6.86. The company’s market cap is $1.192 billion.
Primero Mining Corp. (NYSE:PPP) is a precious metals producer with operations in Mexico.
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