Primero Mining (TSX: P), the Materials sector company, was revisited by a Wall Street analyst on August 10. CIBC’s analyst Jeff Killeen reiterates their Sell rating on the shares.
Primero Mining has an analyst consensus of Hold, with a price target consensus of C$0.59.
Based on Primero Mining’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$49.88 million and quarterly net profit of C$17.87 million. In comparison, last year the company earned revenue of C$76.62 million and had a GAAP net loss of C$25.05 million.
Primero Mining Corp. is a Canadian-based precious metals producer with mining operations in Mexico. The company focuses on building a portfolio of precious metals assets in the Americas through acquiring, exploring, developing and operating mineral resource properties.
The company’s shares closed on Friday at C$0.24, close to its 52-week high of C$2.40.