Global X Management Co. LLC boosted its position in Primero Mining Corp. (NYSE:PPP) (TSE:P) by 15.0% during the third quarter, Holdings Channel reports. The institutional investor owned 2,692,032 shares of the company’s stock after buying an additional 351,251 shares during the period. Global X Management Co. LLC’s holdings in Primero Mining Corp. were worth $4,486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Primero Mining Corp. by 21.6% in the third quarter. Bank of New York Mellon Corp now owns 12,754,224 shares of the company’s stock worth $21,172,000 after buying an additional 2,267,460 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of Primero Mining Corp. by 12.6% in the third quarter. Alps Advisors Inc. now owns 129,569 shares of the company’s stock worth $215,000 after buying an additional 14,505 shares in the last quarter. AGF Investments Inc. increased its stake in shares of Primero Mining Corp. by 0.9% in the third quarter. AGF Investments Inc. now owns 2,276,625 shares of the company’s stock worth $3,799,000 after buying an additional 21,400 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Primero Mining Corp. by 1,864.6% in the second quarter. Jane Street Group LLC now owns 1,091,828 shares of the company’s stock worth $2,271,000 after buying an additional 1,036,252 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Primero Mining Corp. during the second quarter worth approximately $216,000. Institutional investors own 56.02% of the company’s stock.

Institutional Ownership by Quarter for Primero Mining Corp. (NYSE:PPP)

Primero Mining Corp. (NYSE:PPP) traded down 1.15% during midday trading on Wednesday, reaching $0.86. The company had a trading volume of 1,023,119 shares. The firm has a 50-day moving average of $1.23 and a 200-day moving average of $1.72. The stock’s market cap is $161.93 million. Primero Mining Corp. has a 12 month low of $0.75 and a 12 month high of $2.73.

Primero Mining Corp. (NYSE:PPP) last released its earnings results on Wednesday, November 9th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $57.01 million for the quarter, compared to the consensus estimate of $72.94 million. Primero Mining Corp. had a negative return on equity of 2.83% and a negative net margin of 59.85%. The company’s revenue was down 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. On average, equities analysts expect that Primero Mining Corp. will post ($0.15) EPS for the current fiscal year.

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A number of analysts have commented on the company. Desjardins downgraded Primero Mining Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. RBC Capital Markets reiterated a “sector perform” rating and issued a $2.00 price objective (down previously from $3.00) on shares of Primero Mining Corp. in a research report on Friday, November 11th. Canaccord Genuity restated a “buy” rating on shares of Primero Mining Corp. in a research report on Thursday, November 10th. Zacks Investment Research upgraded Primero Mining Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, October 25th. Finally, Scotiabank restated a “sector perform” rating and set a $3.50 target price on shares of Primero Mining Corp. in a research report on Thursday, September 22nd. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.07.

Primero Mining Corp. Company Profile

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.

5 Day Chart for NYSE:PPP

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