Pretium Resources (NYSE:PVG) Price Target Cut to $15.00 by Analysts at HC Wainwright

Pretium Resources (NYSE:PVG) (TSE:PVG) had its price target decreased by HC Wainwright from $20.50 to $15.00 in a research note released on Thursday, The Fly reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

PVG has been the topic of several other reports. Canaccord Genuity downgraded shares of Pretium Resources from a buy rating to a hold rating and decreased their price objective for the company from $18.50 to $12.50 in a report on Wednesday. Royal Bank of Canada downgraded shares of Pretium Resources from an outperform rating to a sector perform rating and decreased their price objective for the company from $20.00 to $16.00 in a report on Friday, November 1st. Alliance Global Partners downgraded shares of Pretium Resources from a buy rating to a neutral rating in a report on Wednesday. Zacks Investment Research raised shares of Pretium Resources from a hold rating to a buy rating and set a $12.00 price objective on the stock in a report on Wednesday, January 15th. Finally, B. Riley increased their price objective on shares of Pretium Resources from $24.80 to $26.00 and gave the company a buy rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $14.35.

PVG stock traded down $0.04 during midday trading on Thursday, hitting $7.41. 3,832,100 shares of the stock traded hands, compared to its average volume of 1,952,732. The firm has a market cap of $1.38 billion, a P/E ratio of 61.76 and a beta of -0.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.38 and a quick ratio of 0.23. The stock’s fifty day simple moving average is $10.52 and its 200-day simple moving average is $11.14. Pretium Resources has a 1-year low of $6.80 and a 1-year high of $13.83.

Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings results on Wednesday, February 12th. The basic materials company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.08. The company had revenue of $135.50 million for the quarter, compared to analyst estimates of $173.18 million. Pretium Resources had a net margin of 5.18% and a return on equity of 9.57%. During the same quarter last year, the business earned $0.11 earnings per share. On average, research analysts predict that Pretium Resources will post 0.47 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its position in Pretium Resources by 41.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 485,259 shares of the basic materials company’s stock worth $4,154,000 after purchasing an additional 142,459 shares during the last quarter. Bank of America Corp DE increased its position in Pretium Resources by 8.9% during the second quarter. Bank of America Corp DE now owns 254,495 shares of the basic materials company’s stock worth $2,548,000 after purchasing an additional 20,898 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in Pretium Resources by 124.7% during the third quarter. Campbell & CO Investment Adviser LLC now owns 23,328 shares of the basic materials company’s stock worth $269,000 after purchasing an additional 12,944 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in Pretium Resources during the third quarter worth about $176,000. Finally, Alberta Investment Management Corp acquired a new stake in Pretium Resources during the third quarter worth about $3,459,000. 52.20% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: How to build a Fibonacci channel

The Fly

Analyst Recommendations for Pretium Resources (NYSE:PVG)

Receive News & Ratings for Pretium Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pretium Resources and related companies with MarketBeat.com's FREE daily email newsletter.