Signition LP lessened its holdings in Pretium Resources Inc (NYSE:PVG) (TSE:PVG) by 45.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,900 shares of the basic materials company’s stock after selling 28,300 shares during the quarter. Pretium Resources comprises about 1.6% of Signition LP’s investment portfolio, making the stock its 19th largest position. Signition LP’s holdings in Pretium Resources were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Gabelli Funds LLC boosted its position in Pretium Resources by 30.3% during the third quarter. Gabelli Funds LLC now owns 1,686,775 shares of the basic materials company’s stock valued at $19,415,000 after purchasing an additional 391,775 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Pretium Resources by 116.4% during the third quarter. Gamco Investors INC. ET AL now owns 69,511 shares of the basic materials company’s stock valued at $800,000 after purchasing an additional 37,391 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Pretium Resources during the third quarter valued at $1,089,000. Usca Ria LLC acquired a new stake in Pretium Resources during the third quarter valued at $46,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Pretium Resources during the third quarter valued at $47,000. 51.09% of the stock is owned by institutional investors and hedge funds.
NYSE PVG traded up $0.02 during trading on Monday, hitting $8.89. 134,629 shares of the company traded hands, compared to its average volume of 2,047,131. Pretium Resources Inc has a 12 month low of $6.65 and a 12 month high of $13.83. The business has a fifty day simple moving average of $11.55 and a 200 day simple moving average of $10.62. The company has a current ratio of 0.38, a quick ratio of 0.23 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.65 billion, a P/E ratio of 16.43 and a beta of -0.62.
A number of analysts recently issued reports on the company. BMO Capital Markets set a $24.00 price objective on Pretium Resources and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada cut Pretium Resources from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $20.00 to $16.00 in a research report on Friday, November 1st. Scotiabank set a $15.00 target price on Pretium Resources and gave the company a “hold” rating in a report on Wednesday, September 18th. Canaccord Genuity cut their target price on Pretium Resources from $20.00 to $18.00 in a report on Saturday, November 2nd. Finally, CIBC restated a “hold” rating on shares of Pretium Resources in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.21.
About Pretium Resources
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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