The Globe and Mail reports in its Friday, Nov. 11, edition that Desjardins Securities analyst Michael Parkin says Primero Mining is "not for the faint of heart," after it reported a lower than expected quarterly gold production of 44,700 equivalent ounces, higher cash costs and has had continued labour unrest at one of its mines. The Globe's David Leeder writes in the Eye On Equities column that Mr. Parkin cut his rating to "hold" from "buy." He cut his share target to $1.30 from $2.70. Analysts on average target the shares at $2.99. Due to the "poor" operating performance, Primero reported cash flow per share of three cents, well below the consensus of 10 cents and Mr. Parkin's estimate of nine cents. As well as the weak financials, Primero reduced its guidance for the fourth time in 2016. It now projects production of 170,000 to 190,000 gold equivalent ounces at total cash costs of $850 (U.S.) to 900 (U.S.) per GEO. Mr. Parkin lowered his forecast to 174,700 GEO at $863 (U.S.). He says Primero's share price could be volatile over the coming months. "However, the stock could outperform the peer group if the company executes on guidance over two consecutive quarters."