Short Interest in Pretium Resources Inc (PVG) Grows By 32.8%

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 16,816,362 shares, an increase of 32.8% from the January 12th total of 12,663,412 shares. Based on an average daily trading volume, of 5,343,312 shares, the short-interest ratio is currently 3.1 days. Currently, 9.9% of the company’s shares are short sold.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Pretium Resources from a “strong sell” rating to a “hold” rating and set a $13.00 price objective on the stock in a report on Tuesday, October 17th. CIBC lowered shares of Pretium Resources from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, January 25th. HC Wainwright cut their price target on shares of Pretium Resources from $16.50 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. ValuEngine lowered shares of Pretium Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Roth Capital set a $17.00 price target on shares of Pretium Resources and gave the stock a “buy” rating in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.33.

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Pretium Resources by 74.0% during 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 purchasing an additional 7,956,917 shares during the period. Vanguard Group Inc. grew its position in shares of Pretium Resources by 8.0% during the second quarter. Vanguard Group Inc. now owns 3,027,890 shares of the basic materials company’s stock worth $29,098,000 after buying an additional 225,396 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Pretium Resources by 4.6% during the third quarter. Commonwealth Bank of Australia now owns 2,816,000 shares of the basic materials company’s stock worth $26,086,000 after buying an additional 124,100 shares in the last quarter. FMR LLC grew its position in shares of Pretium Resources by 1.7% during the second quarter. FMR LLC now owns 1,944,983 shares of the basic materials company’s stock worth $18,688,000 after buying an additional 32,900 shares in the last quarter. Finally, Ninepoint Partners LP acquired a new position in shares of Pretium Resources during the third quarter worth about $17,636,000. Institutional investors own 49.02% of the company’s stock.

Shares of Pretium Resources (NYSE PVG) opened at $7.05 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.74 and a current ratio of 1.08. The stock has a market cap of $1,230.00, a PE ratio of -35.25 and a beta of -0.01. Pretium Resources has a one year low of $6.47 and a one year high of $12.44.

Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its quarterly earnings results on Friday, November 10th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.09). The business had revenue of $70.88 million for the quarter, compared to the consensus estimate 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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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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