Pretium Resources (NYSE:PVG) PT Lowered to $23.40 at B. Riley

Pretium Resources (NYSE:PVG) (TSE:PVG) had its price objective cut by stock analysts at B. Riley from $25.40 to $23.40 in a report released on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the basic materials company’s stock. B. Riley’s target price suggests a potential upside of 92.91% from the stock’s current price.

Several other research analysts also recently commented on PVG. CIBC reissued a “hold” rating on shares of Pretium Resources in a report on Wednesday, September 18th. Scotiabank set a $15.00 price objective on shares of Pretium Resources and gave the company a “hold” rating in a report on Wednesday, September 18th. Canaccord Genuity reissued an “average” rating and set a $17.75 price objective on shares of Pretium Resources in a report on Friday, July 19th. HC Wainwright increased their price objective on shares of Pretium Resources from $16.50 to $22.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, BMO Capital Markets set a $24.00 price objective on shares of Pretium Resources and gave the company a “buy” rating in a report on Friday, September 6th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Pretium Resources has an average rating of “Buy” and a consensus price target of $17.52.

Shares of Pretium Resources stock opened at $12.13 on Monday. The company has a market capitalization of $2.25 billion, a P/E ratio of 22.46 and a beta of -0.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 0.63. The company has a fifty day moving average of $12.11 and a 200 day moving average of $10.43. Pretium Resources has a fifty-two week low of $6.65 and a fifty-two week high of $13.83.

Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $113.20 million during the quarter, compared to the consensus estimate of $143.99 million. Pretium Resources had a net margin of 6.48% and a return on equity of 8.83%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts forecast that Pretium Resources will post 0.73 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Pretium Resources by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,626,044 shares of the basic materials company’s stock valued at $46,307,000 after purchasing an additional 195,522 shares during the last quarter. Morgan Stanley raised its position in shares of Pretium Resources by 22.0% during the 2nd quarter. Morgan Stanley now owns 3,066,473 shares of the basic materials company’s stock valued at $30,696,000 after buying an additional 553,135 shares in the last quarter. Waterton Global Resource Management Inc. raised its position in shares of Pretium Resources by 1.8% during the 2nd quarter. Waterton Global Resource Management Inc. now owns 2,962,667 shares of the basic materials company’s stock valued at $29,656,000 after buying an additional 53,431 shares in the last quarter. Investec Asset Management LTD raised its position in shares of Pretium Resources by 70.4% during the 2nd quarter. Investec Asset Management LTD now owns 1,874,535 shares of the basic materials company’s stock valued at $18,778,000 after buying an additional 774,417 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Pretium Resources by 19.3% during the 2nd quarter. Invesco Ltd. now owns 1,556,993 shares of the basic materials company’s stock valued at $15,586,000 after buying an additional 252,134 shares in the last quarter. 50.94% of the stock is owned by institutional investors and hedge funds.

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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