RE:RE:PRIMERO UPDATE Keep some cash ready for any downturn below $6.00 who knows?
Globe says Parkin rates Primero Mining "buy"
Ticker Symbol: C:P
Globe says Parkin rates Primero Mining "buy"
Primero Mining Corp (C:P)
Shares Issued 159,961,376
Last Close 9/15/2014 $6.67
Tuesday September 16 2014 - In the News
The Globe and Mail reports in its Tuesday edition that Desjardins Securities analyst Michael Parkin rates Primero Mining ($6.67) "buy." The Globe's Darcy Keith, Sonali Verma and Jody White write that Mr. Parkin targets the shares at $9.50. Primero now expects to produce between 220,000 and 240,000 gold equivalent ounces at $675 to $725 cash costs per ounce in 2014. Mr. Parkin says this represents a modest decrease in production and a modest increase in costs compared with previous estimates. Mr. Parkin says: "The guidance revisions are slight, as production guidance fell by just 2.1 per cent and cash costs increased 3.7 per cent. ... The stock has already fallen 21 per cent over the last month, likely due to the challenges of underground throughput and open pit grades at Black Fox, so continued selling ... could present a buying opportunity as the 2-per-cent drop in production guidance pales in comparison to our estimated 22.5 per cent GEO production increase to 2015 from 2014." The Globe's Michael Bowman was bullish on Primero on Jan. 29. The shares were then worth $6. The Globe's Peter Ashton said Primero was poised to rally in the Number Cruncher on Sept. 3. The shares could then be had for $7.13.