Pretium Resources Inc (NYSE:PVG) Receives $16.11 Consensus PT from Analysts

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) has earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $16.89.

Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Pretium Resources from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Thursday, August 8th. ValuEngine raised Pretium Resources from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. HC Wainwright increased their price target on Pretium Resources from $16.50 to $22.00 and gave the company a “buy” rating in a report on Monday, August 19th. B. Riley set a $23.00 price target on Pretium Resources and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Pretium Resources in a report on Wednesday, June 26th.

Institutional investors have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC bought a new position in Pretium Resources in the 2nd quarter worth $110,000. IHT Wealth Management LLC bought a new position in Pretium Resources in the 2nd quarter worth $119,000. Clean Yield Group bought a new position in Pretium Resources in the 1st quarter worth $137,000. Advisor Group Inc. raised its holdings in Pretium Resources by 12.8% in the 2nd quarter. Advisor Group Inc. now owns 13,995 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 1,583 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pretium Resources by 84.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,241 shares of the basic materials company’s stock worth $143,000 after buying an additional 6,512 shares in the last quarter. 50.27% of the stock is currently owned by institutional investors.

Shares of NYSE PVG traded up $1.19 during midday trading on Friday, hitting $13.61. 3,402,616 shares of the stock traded hands, compared to its average volume of 2,578,467. The firm has a 50-day moving average of $11.62 and a two-hundred day moving average of $9.22. The firm has a market capitalization of $2.29 billion, a P/E ratio of 25.20 and a beta of -0.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 0.63. Pretium Resources has a one year low of $6.53 and a one year high of $13.63.

Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $113.20 million for the quarter, compared to analysts’ expectations of $143.99 million. Pretium Resources had a return on equity of 8.83% and a net margin of 6.48%. The firm’s revenue was up 9.9% compared to the same quarter last year. Equities analysts forecast that Pretium Resources will post 0.65 earnings per share for the current fiscal year.

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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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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