Primero Mining (P) Downgraded by Canaccord Genuity to Hold
Primero Mining (TSE:P) (NYSE:PPP) was downgraded by equities research analysts at Canaccord Genuity from a “speculative buy” rating to a “hold” rating in a research note issued on Monday. They currently have a C$0.30 target price on the stock, down from their prior target price of C$0.40. Canaccord Genuity’s target price indicates a potential upside of 11.11% from the company’s previous close.
Separately, Scotiabank restated a “sector perform” rating on shares of Primero Mining in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Hold” and an average price target of C$0.58.
Primero Mining (P) traded up C$0.15 during midday trading on Monday, hitting C$0.27. 18,519,760 shares of the stock traded hands, compared to its average volume of 3,227,247. Primero Mining has a 12-month low of C$0.08 and a 12-month high of C$1.21. The company has a market cap of $51.91, a price-to-earnings ratio of -0.09 and a beta of -0.45.
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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