Pretium Resources Inc (PVG) Receives $15.78 Consensus PT from Analysts

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $15.78.

Several equities analysts have recently weighed in on PVG shares. ValuEngine cut Pretium Resources from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Zacks Investment Research cut Pretium Resources from a “hold” rating to a “sell” rating in a report on Friday, January 11th. CIBC restated a “hold” rating on shares of Pretium Resources in a report on Sunday, January 20th. BMO Capital Markets restated a “buy” rating on shares of Pretium Resources in a report on Monday, January 14th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Pretium Resources in a report on Wednesday, January 23rd.

A number of institutional investors have recently bought and sold shares of PVG. American Century Companies Inc. bought a new position in Pretium Resources during the third quarter worth about $3,460,000. SG Americas Securities LLC grew its holdings in Pretium Resources by 412.8% during the third quarter. SG Americas Securities LLC now owns 51,779 shares of the basic materials company’s stock worth $394,000 after purchasing an additional 41,681 shares during the period. JPMorgan Chase & Co. bought a new position in Pretium Resources during the third quarter worth about $41,137,000. Toronto Dominion Bank grew its holdings in Pretium Resources by 41.2% during the third quarter. Toronto Dominion Bank now owns 436,785 shares of the basic materials company’s stock worth $3,321,000 after purchasing an additional 127,420 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in Pretium Resources during the third quarter worth about $1,416,000. Institutional investors and hedge funds own 54.82% of the company’s stock.

Shares of PVG traded down $0.03 during midday trading on Thursday, hitting $8.53. The stock had a trading volume of 1,566,500 shares, compared to its average volume of 1,654,851. Pretium Resources has a twelve month low of $6.51 and a twelve month high of $9.84. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.80 and a beta of -0.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.65 and a quick ratio of 0.47.

Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings results on Thursday, February 14th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. Pretium Resources had a return on equity of 11.30% and a net margin of 8.06%. The firm had revenue of $108.60 million for the quarter, compared to the consensus estimate of $112.10 million. Sell-side analysts anticipate that Pretium Resources will post 0.78 earnings per share for the current fiscal year.

Pretium Resources Company Profile

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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