Pretium Resources (NYSE:PVG) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Pretium Resources (NYSE:PVG) (TSE:PVG) in a research note published on Thursday morning, AnalystRatings.com reports. The firm currently has a $16.50 target price on the basic materials company’s stock.

Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Zuora from a buy rating to a hold rating in a research report on Saturday, June 1st. CIBC reissued a hold rating and issued a $12.00 target price on shares of Pretium Resources in a research report on Monday, April 8th. Zacks Investment Research reissued a hold rating on shares of Western New England Bancorp in a research report on Saturday, June 29th. B. Riley set a $23.00 target price on shares of Pretium Resources and gave the stock a buy rating in a research report on Tuesday, June 25th. Finally, BMO Capital Markets reissued a buy rating on shares of Brookfield Asset Management in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $14.92.

Pretium Resources stock opened at $10.73 on Thursday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 19.87 and a beta of -0.34. The company has a current ratio of 0.68, a quick ratio of 0.49 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $9.45. Pretium Resources has a twelve month low of $6.53 and a twelve month high of $10.81.

Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The firm had revenue of $103.10 million for the quarter, compared to analyst estimates of $129.47 million. Pretium Resources had a net margin of 10.43% and a return on equity of 12.29%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts expect that Pretium Resources will post 0.4 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of PVG. Waterton Global Resource Management Inc. grew its position in Pretium Resources by 318.0% in the first quarter. Waterton Global Resource Management Inc. now owns 2,909,236 shares of the basic materials company’s stock worth $24,903,000 after acquiring an additional 2,213,318 shares in the last quarter. Polar Capital LLP bought a new stake in shares of Pretium Resources during the 4th quarter worth $15,435,000. Gabelli Funds LLC bought a new stake in shares of Pretium Resources during the 1st quarter worth $11,085,000. Norges Bank bought a new stake in shares of Pretium Resources during the 4th quarter worth $7,296,000. Finally, Federated Investors Inc. PA bought a new stake in shares of Pretium Resources during the 1st quarter worth $7,031,000. 51.03% of the stock is owned by institutional investors.

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.

Further Reading: Are sell-side analysts objective?

Analyst Recommendations for Pretium Resources (NYSE:PVG)

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