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PPP has been the subject of several reports by research badysts. Zacks Investment Research upgraded Primero Mining Corp from a "strong sale" rating to a "buy" rating and set a target price of $ 0.75 for the company in a research note on Wednesday, April 19th. Royal Bank of Canada set a target price of $ 1.00 on Primero Mining Corp and granted a "hold" rating to the stock in a research note on Monday, May 8th. Desjardins downgraded Primero Mining Corp from a "hold" rating to a "sell" rating in a research note on Tuesday, May 16th. Finally, ValuEngine downgraded Primero Mining Corp from a "sell" rating to a "strong selling" note in a research note on Tuesday, June 27.
Shares of Primero Mining Corp. (NYSE: PPP) (TSE: P) were given a consensus rating of "hold" by the eight brokerages that currently cover the company, reports Marketbeat Ratings. Two financial badysts evaluated the stock with a sales recommendation, four gave a retainer recommendation and two gave a buy recommendation to the company. The average one-year course target among brokers who have covered the stock over the past year is $ 2.58.
Several hedge funds and other institutional investors have recently changed their positions in the company. Global X Management Co. LLC increased its position in Primero Mining Corp shares by 20.9% in the first quarter. Global X Management Co. LLC now holds 2,424,767 shares of the base materials company valued at $ 1,345,000 after purchasing an additional 418,678 shares in the last quarter. Renaissance Technologies LLC increased its position in Primero Mining Corp shares by 17.2% in the first quarter. Renaissance Technologies LLC now holds 3,136,725 shares in the base materials company valued at $ 1,725,000 after purchasing an additional 461,300 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Primero Mining Corp shares by 31.3% in the first quarter. Van ECK Associates Corp. now holds 23,471,756 shares in the core materials business valued at $ 12,909,000 after purchasing an additional 5,600,386 shares in the last quarter. 43.86% of the shares are held by institutional investors and hedge funds.
Primero Mining Corp (PPP) rose 1.0231% in mid-day Tuesday, reaching $ 0.3456. 578,764 shares of the company were exchanged. Primero Mining Corp has a 52 week low of $ 0.33 and a $ 52 high of $ 2.63. The company's 50-day moving average is $ 0.41 and its 200-day moving average is $ 0.60. The company's market capitalization is $ 66.30 million.
About Primero Mining Corp
Primero Mining Corp. is a precious metals producer with operations in Mexico and Canada. The Company focuses on creating a portfolio of precious metals badets in the Americas through the acquisition, exploration, development and operation of mining properties. Its segments include San Dimas, Cerro del Gallo, Black Fox Complex and Corporate.
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