Primero Mining Corp (PPP) Position Reduced by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Primero Mining Corp (NYSE:PPP) (TSE:P) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 1,367,550 shares of the company’s stock after selling 25,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.73% of Primero Mining Corp worth $2,279,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in shares of Primero Mining Corp by 5.1% in the second quarter. Alps Advisors Inc. now owns 115,064 shares of the company’s stock valued at $239,000 after buying an additional 5,580 shares in the last quarter. AGF Investments Inc. raised its position in shares of Primero Mining Corp by 0.9% in the third quarter. AGF Investments Inc. now owns 2,276,625 shares of the company’s stock valued at $3,799,000 after buying an additional 21,400 shares in the last quarter. OLD Mission Capital LLC raised its position in shares of Primero Mining Corp by 243.3% in the third quarter. OLD Mission Capital LLC now owns 110,696 shares of the company’s stock valued at $157,000 after buying an additional 78,448 shares in the last quarter. Intrepid Capital Management Inc. bought a new position in shares of Primero Mining Corp during the third quarter valued at $166,000. Finally, Global X Management Co. LLC raised its position in shares of Primero Mining Corp by 15.0% in the third quarter. Global X Management Co. LLC now owns 2,692,032 shares of the company’s stock valued at $4,486,000 after buying an additional 351,251 shares in the last quarter. 55.21% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Primero Mining Corp (NYSE:PPP)

Shares of Primero Mining Corp (NYSE:PPP) traded down 0.4269% during mid-day trading on Friday, reaching $0.8863. 1,079,520 shares of the company traded hands. Primero Mining Corp has a 52-week low of $0.70 and a 52-week high of $2.63. The stock’s 50 day moving average is $0.80 and its 200 day moving average is $1.27. The stock’s market capitalization is $166.88 million.

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Several research analysts have weighed in on PPP shares. Zacks Investment Research lowered shares of Primero Mining Corp from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Desjardins raised shares of Primero Mining Corp from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Canaccord Genuity reissued a “buy” rating on shares of Primero Mining Corp in a report on Thursday, November 10th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $2.00 price objective (down from $3.00) on shares of Primero Mining Corp in a report on Friday, November 11th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Primero Mining Corp currently has an average rating of “Hold” and a consensus target price of $2.89.

About Primero Mining Corp

Primero Mining Corp. is a precious metals producer with operations in both Mexico and Canada. The Company is focused on building a portfolio of precious metals assets in the Americas through acquiring, exploring, developing and operating mineral resource properties. Its segments include San Dimas, Cerro del Gallo, Black Fox Complex and Corporate.

5 Day Chart for NYSE:PPP

Want to see what other hedge funds are holding PPP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primero Mining Corp (NYSE:PPP) (TSE:P).

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