Pretium Resources Inc (PVG) Receives Average Recommendation of “Hold” from Brokerages

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) has been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.00.

PVG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Pretium Resources from a “strong sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research report on Tuesday, October 17th. HC Wainwright reaffirmed a “buy” rating and issued a $16.50 price objective on shares of Pretium Resources in a research note on Monday, November 13th. Roth Capital set a $17.00 price objective on shares of Pretium Resources and gave the stock a “buy” rating in a research note on Monday, November 13th. Credit Suisse Group cut shares of Pretium Resources from an “outperform” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Tuesday, January 23rd. Finally, CIBC cut shares of Pretium Resources from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, January 25th.

A number of hedge funds and other institutional investors have recently bought and sold shares of PVG. Van ECK Associates Corp lifted its stake in shares of Pretium Resources by 74.0% in the third quarter. Van ECK Associates Corp now owns 18,706,377 shares of the basic materials company’s stock worth $173,222,000 after buying an additional 7,956,917 shares during the last quarter. Ninepoint Partners LP bought a new position in Pretium Resources during the third quarter worth $17,636,000. Stansberry Asset Management LLC bought a new position in Pretium Resources during the fourth quarter worth $7,158,000. Intact Investment Management Inc. bought a new position in Pretium Resources during the third quarter worth $4,768,000. Finally, Alps Advisors Inc. increased its position in Pretium Resources by 52.0% during the fourth quarter. Alps Advisors Inc. now owns 1,114,249 shares of the basic materials company’s stock worth $12,714,000 after acquiring an additional 381,100 shares during the period. Hedge funds and other institutional investors own 49.02% of the company’s stock.

Shares of Pretium Resources (NYSE:PVG) traded down $0.28 during trading hours on Tuesday, reaching $6.77. 809,877 shares of the company traded hands, compared to its average volume of 3,439,210. The company has a market cap of $1,280.00, a P/E ratio of -33.85 and a beta of -0.01. Pretium Resources has a 12-month low of $6.47 and a 12-month high of $12.44. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.74 and a current ratio of 1.08.

Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its quarterly earnings data on Friday, November 10th. The basic materials company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.09). The company had revenue of $70.88 million for the quarter, compared to analysts’ expectations of $106.50 million. sell-side analysts anticipate that Pretium Resources will post -0.04 EPS for the current fiscal year.

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Pretium Resources Company Profile

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.

Analyst Recommendations for Pretium Resources (NYSE:PVG)

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