Primero Mining Corp (NYSE:PPP) (TSE:P) has been assigned a $1.00 target price by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. The firm currently has a “hold” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 163.16% from the stock’s previous close.

PPP has been the topic of several other reports. Zacks Investment Research cut Primero Mining Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Desjardins cut Primero Mining Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. 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 company. The company currently has an average rating of “Hold” and a consensus price target of $2.45.

Analyst Recommendations for Primero Mining Corp (NYSE:PPP)

Shares of Primero Mining Corp (PPP) traded up 4.34% on Monday, reaching $0.38. The company had a trading volume of 1,781,734 shares. The company’s market capitalization is $72.90 million. The stock has a 50 day moving average price of $0.45 and a 200-day moving average price of $0.65. Primero Mining Corp has a 12 month low of $0.35 and a 12 month high of $2.63.

Primero Mining Corp (NYSE:PPP) (TSE:P) last posted its earnings results on Wednesday, March 15th. The basic materials company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. Primero Mining Corp had a negative return on equity of 2.18% and a negative net margin of 100.69%. The firm had revenue of $52.20 million for the quarter, compared to analysts’ expectations of $54.30 million. Primero Mining Corp’s quarterly revenue was down 26.9% on a year-over-year basis. Analysts forecast that Primero Mining Corp will post ($0.06) EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of PPP. Renaissance Technologies LLC boosted its position in shares of Primero Mining Corp by 277.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,675,425 shares of the basic materials company’s stock valued at $2,104,000 after buying an additional 1,966,012 shares during the period. Van ECK Associates Corp boosted 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 worth $12,909,000 after buying an additional 5,600,386 shares during the last quarter. Finally, Global X Management Co. LLC boosted 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 worth $1,345,000 after buying an additional 418,678 shares during 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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