Millennium Management LLC grew its position in Pretium Resources Inc (NYSE:PVG) (TSE:PVG) by 1,114.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,098 shares of the basic materials company’s stock after buying an additional 299,239 shares during the quarter. Millennium Management LLC owned 0.18% of Pretium Resources worth $2,756,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PVG. JPMorgan Chase & Co. purchased a new position in shares of Pretium Resources in the third quarter valued at $41,137,000. Polar Capital LLP purchased a new position in shares of Pretium Resources in the fourth quarter valued at $15,435,000. Letko Brosseau & Associates Inc. increased its position in shares of Pretium Resources by 9.1% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 14,098,397 shares of the basic materials company’s stock valued at $119,431,000 after buying an additional 1,180,597 shares in the last quarter. Investec Asset Management LTD purchased a new position in shares of Pretium Resources in the fourth quarter valued at $9,557,000. Finally, Global Strategic Management Inc. purchased a new position in shares of Pretium Resources in the fourth quarter valued at $5,683,000. Institutional investors and hedge funds own 55.28% of the company’s stock.
PVG opened at $7.86 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.45 billion, a P/E ratio of 14.56 and a beta of -0.33. Pretium Resources Inc has a 52 week low of $6.53 and a 52 week high of $9.84.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Pretium Resources from a “hold” rating to a “sell” rating in a research report on Saturday, January 5th. ValuEngine upgraded Pretium Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. CIBC restated a “hold” rating on shares of Pretium Resources in a research report on Thursday, January 10th. B. Riley assumed coverage on Pretium Resources in a research report on Friday, March 1st. They issued a “buy” rating and a $19.35 price target for the company. Finally, HC Wainwright set a $17.00 price target on Pretium Resources and gave the company a “buy” rating in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $14.43.
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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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