Pretium Resources Inc (NYSE:PVG) Given Average Rating of “Buy” by Analysts

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) has received a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.89.

PVG has been the subject of several analyst reports. HC Wainwright raised their price objective on shares of Pretium Resources from $16.50 to $22.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Canaccord Genuity reissued an “average” rating and issued a $17.75 price objective on shares of Pretium Resources in a research note on Friday, July 19th. ValuEngine raised shares of Pretium Resources from a “hold” rating to a “buy” rating in a research note on Saturday, June 1st. Zacks Investment Research raised shares of Pretium Resources from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Thursday, August 8th. Finally, B. Riley set a $23.00 price objective on shares of Pretium Resources and gave the stock a “buy” rating in a research note on Tuesday, June 25th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Pretium Resources by 46.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 359,048 shares of the basic materials company’s stock valued at $3,069,000 after acquiring an additional 113,148 shares in the last quarter. Exane Derivatives bought a new stake in shares of Pretium Resources during the first quarter valued at approximately $1,029,000. BlackRock Inc. raised its stake in shares of Pretium Resources by 14.0% during the fourth quarter. BlackRock Inc. now owns 809,445 shares of the basic materials company’s stock valued at $6,840,000 after acquiring an additional 99,222 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Pretium Resources during the second quarter valued at approximately $110,000. Finally, Midas Management Corp raised its stake in shares of Pretium Resources by 11.1% during the first quarter. Midas Management Corp now owns 50,000 shares of the basic materials company’s stock valued at $428,000 after acquiring an additional 5,000 shares in the last quarter. 50.27% of the stock is owned by institutional investors and hedge funds.



Shares of NYSE:PVG traded up $1.19 during trading on Friday, reaching $13.61. The company’s stock had a trading volume of 3,402,616 shares, compared to its average volume of 2,578,467. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.29 billion, a PE ratio of 25.20 and a beta of -0.40. Pretium Resources has a 12 month low of $6.53 and a 12 month high of $13.63. The firm’s 50 day simple moving average is $11.62 and its two-hundred day simple moving average is $9.22.

Pretium Resources (NYSE:PVG) (TSE:PVG) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The business 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 was up 9.9% on a year-over-year basis. Research analysts anticipate that Pretium Resources will post 0.65 EPS for the current fiscal year.

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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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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