Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Primero Mining Corp (PPP) A Good Stock To Buy?

Page 1 of 2

Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Primero Mining Corp (NYSE:PPP) based on that data.

Is Primero Mining Corp (NYSE:PPP) undervalued? Investors who are in the know are reducing their bets on the stock. The number of bullish hedge fund bets was cut by 2 recently. At the end of this article we will also compare PPP to other stocks including Modine Manufacturing Co. (NYSE:MOD), Credit Suisse AG- VelocityShares Daily Inverse VIX Short Term Etn (NASDAQ:XIV), and Karyopharm Therapeutics Inc (NASDAQ:KPTI) to get a better sense of its popularity.

Today there are a multitude of formulas stock market investors put to use to appraise stocks. A duo of the less utilized formulas are hedge fund and insider trading signals. Our researchers have shown that, historically, those who follow the best picks of the elite money managers can trounce the S&P 500 by a very impressive margin (see the details here).

Keeping this in mind, we’re going to take a gander at the recent action encompassing Primero Mining Corp (NYSE:PPP).

What does the smart money think about Primero Mining Corp (NYSE:PPP)?

At the Q3’s end, a total of 9 of the hedge funds tracked by Insider Monkey were long this stock, a change of -18% from one quarter earlier. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their holdings substantially (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Israel Englander’s Millennium Management has the largest position in Primero Mining Corp (NYSE:PPP), worth close to $3.4 million, corresponding to less than 0.1%% of its total 13F portfolio. Coming in second is Sun Valley Gold, managed by Peter Franklin Palmedo, which holds a $3.1 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors that hold long positions include D. E. Shaw’s D E Shaw, Eric Sprott’s Sprott Asset Management and Jim Simons’ Renaissance Technologies.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!