Zacks: Analysts Expect Pretium Resources Inc (NYSE:PVG) Will Post Quarterly Sales of $155.35 Million

Wall Street analysts expect Pretium Resources Inc (NYSE:PVG) (TSE:PVG) to announce $155.35 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Pretium Resources’ earnings, with the highest sales estimate coming in at $159.99 million and the lowest estimate coming in at $150.70 million. Pretium Resources posted sales of $110.06 million during the same quarter last year, which suggests a positive year-over-year growth rate of 41.2%. The company is scheduled to issue its next earnings results on Thursday, November 14th.

On average, analysts expect that Pretium Resources will report full year sales of $537.79 million for the current fiscal year, with estimates ranging from $522.89 million to $560.37 million. For the next financial year, analysts anticipate that the business will report sales of $677.62 million, with estimates ranging from $657.80 million to $697.43 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Pretium Resources.

Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $113.20 million during the quarter, compared to the consensus estimate of $143.99 million. Pretium Resources had a net margin of 6.48% and a return on equity of 8.83%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year.



PVG has been the topic of a number of recent analyst reports. ValuEngine raised Pretium Resources from a “hold” rating to a “buy” rating in a research report on Saturday, June 1st. Royal Bank of Canada reaffirmed a “buy” rating on shares of Pretium Resources in a report on Wednesday, June 26th. B. Riley set a $23.00 price target on shares of Pretium Resources and gave the company a “buy” rating in a report on Tuesday, June 25th. Zacks Investment Research raised shares of Pretium Resources from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Thursday, August 8th. Finally, Canaccord Genuity reaffirmed an “average” rating and issued a $17.75 price target on shares of Pretium Resources in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.11.

Shares of PVG stock traded down $0.50 during trading hours on Friday, reaching $12.32. 2,273,808 shares of the company’s stock were exchanged, compared to its average volume of 2,022,647. The stock’s 50 day moving average is $11.26 and its 200-day moving average is $9.07. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 22.81 and a beta of -0.40. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54. Pretium Resources has a fifty-two week low of $6.53 and a fifty-two week high of $13.50.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. boosted its stake in shares of Pretium Resources by 12.8% during the 2nd quarter. Advisor Group Inc. now owns 13,995 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 1,583 shares in the last quarter. Legal & General Group Plc lifted its stake in Pretium Resources by 4.2% in the 4th quarter. Legal & General Group Plc now owns 39,954 shares of the basic materials company’s stock valued at $338,000 after buying an additional 1,607 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Pretium Resources by 2.2% in the 2nd quarter. CIBC Asset Management Inc now owns 159,573 shares of the basic materials company’s stock valued at $1,595,000 after buying an additional 3,385 shares in the last quarter. Clean Yield Group lifted its stake in Pretium Resources by 22.5% in the 2nd quarter. Clean Yield Group now owns 19,600 shares of the basic materials company’s stock valued at $196,000 after buying an additional 3,600 shares in the last quarter. Finally, Midas Management Corp lifted its stake in Pretium Resources by 11.1% in the 1st quarter. Midas Management Corp now owns 50,000 shares of the basic materials company’s stock valued at $428,000 after buying an additional 5,000 shares in the last quarter. 51.62% of the stock is currently owned by institutional investors and hedge funds.

Pretium Resources Company Profile

Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. The company primarily explores for gold, silver, and copper deposits. Its principal project is the Brucejack project that consists of 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.

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Earnings History and Estimates for Pretium Resources (NYSE:PVG)

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