RBC Capital Trims Primero Mining Corp Target Price to $8.50 (PPP)
Equities research analysts at RBC Capital reduced their price target on shares of Primero Mining Corp (NYSE:PPP) from $9.00 to $8.50 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target points to a potential upside of 41.43% from the company’s current price.
Primero Mining Corp (NYSE:PPP) traded up 1.00% during mid-day trading on Friday, hitting $6.07. 156,329 shares of the company’s stock traded hands. 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 $7.21 and a 200-day moving average of $6.99. The company’s market cap is $971.0 million.
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 $0.08 earnings per share for the current fiscal year.
PPP has been the subject of a number of other recent research reports. Analysts at Morgan Stanley initiated coverage on shares of Primero Mining Corp in a research note on Wednesday. They set an “equal weight” rating and a $7.75 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.85.
Primero Mining Corp. (NYSE:PPP) is a precious metals producer with operations in Mexico.