ValuEngine downgraded shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a hold rating to a sell rating in a report released on Wednesday.
Several other equities analysts have also recently issued reports on PVG. Zacks Investment Research raised Pretium Resources from a hold rating to a buy rating and set a $9.50 price objective for the company in a report on Tuesday, July 17th. HC Wainwright set a $15.00 price objective on Pretium Resources and gave the stock a buy rating in a report on Friday, August 10th. Citigroup reduced their price objective on Pretium Resources from $13.00 to $12.00 and set a buy rating for the company in a report on Wednesday, August 29th. Finally, Canaccord Genuity reaffirmed a buy rating on shares of Pretium Resources in a report on Sunday, October 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Pretium Resources has an average rating of Buy and an average price target of $12.55.
PVG stock traded up $0.26 during midday trading on Wednesday, hitting $7.54. 2,513,980 shares of the stock were exchanged, compared to its average volume of 1,806,672. The stock has a market cap of $1.33 billion, a PE ratio of 75.40 and a beta of 0.25. Pretium Resources has a fifty-two week low of $6.17 and a fifty-two week high of $11.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.40.
Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its quarterly earnings data on Thursday, November 8th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $110.06 million during the quarter, compared to analysts’ expectations of $109.70 million. Pretium Resources had a return on equity of 8.67% and a net margin of 3.22%. As a group, equities research analysts predict that Pretium Resources will post 0.56 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in PVG. Van ECK Associates Corp grew its position in shares of Pretium Resources by 14.8% in the second 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. Letko Brosseau & Associates Inc. grew its position in shares of Pretium Resources by 50.1% in the third quarter. Letko Brosseau & Associates Inc. now owns 12,917,800 shares of the basic materials company’s stock valued at $98,138,000 after purchasing an additional 4,310,900 shares during the period. Bank of Montreal Can grew its position in shares of Pretium Resources by 17.3% in the third quarter. Bank of Montreal Can now owns 8,232,651 shares of the basic materials company’s stock valued at $62,650,000 after purchasing an additional 1,214,100 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Pretium Resources in the third quarter valued at $41,137,000. Finally, Heartland Advisors Inc. grew its position in shares of Pretium Resources by 8.1% in the third quarter. Heartland Advisors Inc. now owns 1,927,300 shares of the basic materials company’s stock valued at $14,667,000 after purchasing an additional 145,000 shares during the period. 52.85% 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. 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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