Primero Mining Corp (PPP) was Downgraded by RBC Capital Mkts to ” Sector Perform” while Lowering the Price Target of the company shares to $ 2.25 from a previous price target of $3.25 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Aug 8, 2016.
On the company’s financial health, Primero Mining Corp reported $-0.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.00. The company had revenue of $59.40 million for the quarter, compared to analysts expectations of $81.75 million. The company’s revenue was down -11.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.04 EPS.
Primero Mining Corp closed down -0.03 points or -1.69% at $1.75 with 20,86,490 shares getting traded on Friday. Post opening the session at $1.76, the shares hit an intraday low of $1.7 and an intraday high of $1.79 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.