Zacks Investment Research upgraded shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $9.00 price objective on the basic materials company’s stock.
According to Zacks, “Pretium Resources Inc. is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. The Company owns the Snowfield and Brucejack Projects located in Northwest British Columbia, Canada. Its mineral interests consist of gold/copper/silver exploration projects. Pretium Resources Inc. is headquartered in Vancouver, Canada. “
Other analysts have also issued reports about the company. HC Wainwright restated a buy rating and issued a $15.00 target price on shares of Pretium Resources in a research note on Wednesday, June 20th. Citigroup lowered their target price on Pretium Resources from $13.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday, August 29th. Finally, ValuEngine upgraded Pretium Resources from a sell rating to a hold rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $12.60.
Pretium Resources stock traded up $0.55 during mid-day trading on Wednesday, reaching $8.20. 212,630 shares of the company’s stock were exchanged, compared to its average volume of 2,256,881. The firm has a market capitalization of $1.40 billion, a P/E ratio of 75.90 and a beta of -0.12. Pretium Resources has a one year low of $6.17 and a one year high of $12.44. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42.
Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its earnings results on Thursday, August 9th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The firm had revenue of $146.48 million for the quarter, compared to analyst estimates of $141.20 million. Pretium Resources had a return on equity of 8.67% and a net margin of 3.22%. Analysts predict that Pretium Resources will post 0.6 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of Pretium Resources by 14.8% during the 2nd quarter. Van ECK Associates Corp now owns 22,825,820 shares of the basic materials company’s stock valued at $167,542,000 after purchasing an additional 2,937,669 shares during the period. Swiss National Bank raised its stake in shares of Pretium Resources by 10.2% during the 2nd quarter. Swiss National Bank now owns 295,848 shares of the basic materials company’s stock valued at $2,169,000 after purchasing an additional 27,500 shares during the period. Letko Brosseau & Associates Inc. raised its stake in shares of Pretium Resources by 80.1% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 8,606,900 shares of the basic materials company’s stock valued at $63,270,000 after purchasing an additional 3,827,450 shares during the period. Global X Management Co LLC raised its stake in shares of Pretium Resources by 24.4% during the 2nd quarter. Global X Management Co LLC now owns 226,467 shares of the basic materials company’s stock valued at $1,665,000 after purchasing an additional 44,357 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Pretium Resources by 103.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,084,633 shares of the basic materials company’s stock valued at $7,973,000 after purchasing an additional 552,400 shares during the period. Institutional investors own 52.55% of the company’s stock.
About Pretium Resources
Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. It primarily explores for gold, silver, and copper deposits. The company's principal project is the Brucejack project comprising 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.
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