Primero Mining Corp (PPP) Releases Earnings Results, Beats Expectations By $0.03 EPS

Primero Mining Corp (PPP) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.08. The company posted revenue of $50.50 million in the period, compared to analysts expectations of $42.54 million. The company’s revenue was down -31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Primero Mining Corp. Primero Mining Corp was Downgraded by CIBC to ” Sector Perform” on Feb 23, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 9, 2016 to “Outperform” and Lowered the Price Target to $ 2.25 from a previous price target of $3.25 .

Primero Mining Corp opened for trading at $1.92 and hit $1.98 on the upside on Monday, eventually ending the session at $1.89, with a gain of 0.53% or 0.01 points. The heightened volatility saw the trading volume jump to 13,13,595 shares. Company has a market cap of $310 M.

Primero Mining Corp. is a Canada-based precious metals producer. The Company is focused on building a portfolio of precious metals assets in the Americas through acquiring exploring developing and operating mineral resource properties. It operates in the Mexico and Canada segments. It owns two producing properties: the San Dimas gold-silver mine located in Mexico’s San Dimas district on the border of Durango and Sinaloa states and the Black Fox mine located in the Township of Black River? Matheson Ontario Canada. The Company owns properties adjacent to the Black Fox mine: Grey Fox and Pike River which together with the Black Fox mine and the Black Fox mill located on the Stock Mill property comprise the Black Fox Complex. In addition it owns one development-stage project; the Cerro del Gallo gold-silver-copper project located in the state of Guanajuato in central Mexico. Further the Company has one exploration property Ventanas located in Durango State Mexico.

Primero Mining Corp

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