Roth Capital Raises Pretium Resources, Inc. (PVG) Price Target to $17.00
Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) had its target price hoisted by investment analysts at Roth Capital from $16.00 to $17.00 in a report released on Wednesday. The firm presently has a “buy” rating on the basic materials company’s stock. Roth Capital’s price target suggests a potential upside of 40.38% from the company’s current price.
PVG has been the topic of several other reports. Zacks Investment Research raised Pretium Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. ValuEngine cut Pretium Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Pretium Resources in a research report on Thursday, September 7th. BidaskClub raised Pretium Resources from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Credit Suisse Group set a $13.00 price objective on Pretium Resources and gave the company a “buy” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $15.75.
Shares of Pretium Resources (NYSE:PVG) traded up 25.10% during mid-day trading on Wednesday, hitting $12.11. The stock had a trading volume of 10,180,173 shares. The stock’s 50-day moving average price is $8.81 and its 200 day moving average price is $9.37. Pretium Resources has a 1-year low of $6.82 and a 1-year high of $12.53. The company’s market capitalization is $2.20 billion.
A number of hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Pretium Resources in the 2nd quarter valued at approximately $387,000. Bank of Nova Scotia lifted its position in Pretium Resources by 100.3% in the 2nd quarter. Bank of Nova Scotia now owns 42,684 shares of the basic materials company’s stock valued at $410,000 after acquiring an additional 21,370 shares in the last quarter. Bluefin Trading LLC lifted its position in Pretium Resources by 175.5% in the 2nd quarter. Bluefin Trading LLC now owns 324,431 shares of the basic materials company’s stock valued at $3,118,000 after acquiring an additional 206,663 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Pretium Resources in the 2nd quarter valued at approximately $152,000. Finally, Prudential PLC lifted its position in Pretium Resources by 27.1% in the 2nd quarter. Prudential PLC now owns 5,540,263 shares of the basic materials company’s stock valued at $53,242,000 after acquiring an additional 1,180,973 shares in the last quarter. 43.25% of the stock is currently owned by institutional investors and hedge funds.
About Pretium Resources
Pretium Resources Inc is a Canada-based exploration and development company. The Company is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. The Company’s projects include Brucejack Project and the Snowfield Project, both of which are located in northwestern British Columbia.
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