Old Mission Capital adds Primero Mining Corp (PPP) to its portfolio

Primero Mining Corp (PPP) : Old Mission Capital added new position in Primero Mining Corp during the most recent quarter end. The investment management firm now holds 18,050 shares of Primero Mining Corp which is valued at $32,129 , the company said in a statement filed on Aug 12, 2016 with the SEC.

Other Hedge Funds, Including , Geode Capital Management sold out all of its stake in PPP during the most recent quarter. The investment firm sold 37,799 shares of PPP which is valued $67,282. Omers Administration Corp added PPP to its portfolio by purchasing 142,300 company shares during the most recent quarter which is valued at $253,294. Primero Mining Corp makes up approx 0.01% of Omers Administration Corp’s portfolio.Credit Suisse Ag reduced its stake in PPP by selling 1,122,490 shares or 81.05% in the most recent quarter. The Hedge Fund company now holds 262,486 shares of PPP which is valued at $467,225. Tocqueville Asset Management sold out all of its stake in PPP during the most recent quarter. The investment firm sold 550,000 shares of PPP which is valued $1,259,500.

Primero Mining Corp opened for trading at $1.6 and hit $1.63 on the upside on Monday, eventually ending the session at $1.61, with a gain of 0.63% or 0.01 points. The heightened volatility saw the trading volume jump to 6,78,991 shares. Company has a market cap of $302 M.

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.

Many Wall Street Analysts have commented on Primero Mining Corp. Shares were Downgraded by RBC Capital Mkts on Aug 8, 2016 to ” Sector Perform” and Lowered the Price Target to $ 2.25 from a previous price target of $3.25 .

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.

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