The Globe and Mail reports in its Friday edition that Desjardins analyst Michael Parkin says he is "constructive" on gold prices heading into the new calendar year, but he expects near-term volatility due to a potential rate hike by the U.S. Fed in December. The Globe's David Leeder writes in the Eye On Equities column that Mr. Parkin lowered his fourth quarter gold price assumption to $1,255 per ounce from $1,365 and his silver price assumption to $17.30/ounce from $20.25/ounce. Mr. Parkin elevated his rating on Primero Mining ($2.12) to "buy" from "hold." He continues to target the shares at $2.70. Analysts on average target the shares at $3.34. Mr. Parkin says in a note: "Our NAV increased by 22 per cent, mostly because we now assume taxes will be paid as per the APA for FY1 and FY2. This change should make our estimates more comparable to consensus. Due to these adjustments, our target price is flat at $2.70. With an implied potential return of 23 per cent, we are upgrading the stock." Mr. Parkin boosted Primero to "buy" from "sell" in the Eye column on Feb. 22. The shares were then worth $1.99. BMO cut Primero to "market perform" from "outperform" in the Eye column on April 20. It was then worth $2.10.