Primero Mining Corp. (PPP) is a metal producer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PPP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Primero Mining could be a solid choice for investors.
Current Quarter Estimates for PPP
In the past 30 days, 2 estimates have gone higher for Primero Mining while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates going from a loss of 2 cents a share 30 days ago, to a breakeven point today.
Current Year Estimates for PPP
Meanwhile, Primero Mining’s current year figures are also looking quite promising, with 5 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 9 cents per share 30 days ago to a loss of 1 cent per share today.
Bottom Line
The stock has also started to move higher lately, adding 6.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
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