- Primero Mining (PPP -13.1%) extends its downward spiral after the company posted a surprise Q3 loss that caused it to cut its production guidance; shares have now plunged nearly 40% over the past three days.
- TD Securities downgraded PPP to Hold from Buy with a C$1.65 price target, cut in halffrom $3.25, Desjardins cut shares to Hold from Buy with a $1.30 target, slashes from C$2.70, and CIBC downgraded the stock to Sector Underperform.
- “With the company’s key San Dimas mine encountering significant operational headwinds and the tax dispute with the Mexican government still an overhang, the near-term outlook is challenging,” TD says.
- Desjardins thinks PPP "could be highly volatile due to the high-cost nature of the company and its strained liquidity over the coming months."
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Primero Mining downgraded after weak Q3, volatile share price outlook
Published 11/11/2016, 03:58 PM
Updated 11/11/2016, 03:58 PM
Primero Mining downgraded after weak Q3, volatile share price outlook
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