Royal Bank Of Canada Analysts Give Primero Mining Corp (PPP) a $1.00 Price Target

Primero Mining Corp (NYSE:PPP) (TSE:P) has been given a $1.00 price target by analysts at Royal Bank Of Canada in a research report issued on Tuesday, July 18th. The firm currently has a “hold” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 426.32% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Primero Mining Corp from a “strong sell” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Wednesday, April 19th. Desjardins cut shares of Primero Mining Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, ValuEngine cut shares of Primero Mining Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $1.67.

Primero Mining Corp (NYSE PPP) traded down 4.09% during trading on Tuesday, hitting $0.19. The company had a trading volume of 4,243,957 shares. The stock’s market capitalization is $36.47 million. The stock has a 50-day moving average of $0.34 and a 200-day moving average of $0.51. Primero Mining Corp has a one year low of $0.18 and a one year high of $1.86.

Primero Mining Corp (NYSE:PPP) (TSE:P) last released its quarterly earnings results on Thursday, August 10th. The basic materials company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Primero Mining Corp had a negative net margin of 299.62% and a negative return on equity of 2.41%. The company had revenue of $16.23 million during the quarter, compared to the consensus estimate of $44.64 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The firm’s quarterly revenue was down 61.9% on a year-over-year basis. On average, equities analysts anticipate that Primero Mining Corp will post ($0.04) EPS for the current year.

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A number of large investors have recently modified their holdings of the company. Global X Management Co. LLC increased its stake in shares of Primero Mining Corp by 1.6% in the second quarter. Global X Management Co. LLC now owns 2,462,368 shares of the basic materials company’s stock worth $853,000 after buying an additional 37,601 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Primero Mining Corp by 17.2% in the first quarter. Renaissance Technologies LLC now owns 3,136,725 shares of the basic materials company’s stock worth $1,725,000 after buying an additional 461,300 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in 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 valued at $12,909,000 after buying an additional 5,600,386 shares in the last quarter. 43.75% of the stock is owned by institutional investors and hedge funds.

About Primero Mining Corp

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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