Primero Mining Corp Coverage Initiated at Morgan Stanley (PPP)
Equities researchers at Morgan Stanley began coverage on shares of Primero Mining Corp (NYSE:PPP) in a research report issued on Wednesday. The firm set an “equal weight” rating and a $7.75 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 18.68% from the stock’s previous close.
A number of other firms have also 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. Separately, 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 analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $7.53.
Shares of Primero Mining Corp (NYSE:PPP) opened at 6.53 on Wednesday. Primero Mining Corp has a one year low of $4.27 and a one year high of $8.47. The stock’s 50-day moving average is $7.30 and its 200-day moving average is $7.01. The company’s market cap is $1.045 billion.
Primero Mining Corp (NYSE:PPP) last announced its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.03. 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 previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 51.8% on a year-over-year basis. On average, analysts predict that Primero Mining Corp will post $0.10 earnings per share for the current fiscal year.
Primero Mining Corp. (NYSE:PPP) is a precious metals producer with operations in Mexico.
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