Brokerages predict that Pretium Resources Inc (NYSE:PVG) (TSE:PVG) will report sales of $155.35 million for the current quarter, Zacks reports. Two analysts have made estimates for Pretium Resources’ earnings. The highest sales estimate is $159.99 million and the lowest is $150.70 million. Pretium Resources reported sales of $110.06 million during the same quarter last year, which would suggest a positive year over year growth rate of 41.2%. The company is scheduled to announce its next earnings results on Thursday, November 14th.
On average, analysts expect that Pretium Resources will report full-year sales of $537.79 million for the current fiscal year, with estimates ranging from $522.89 million to $560.37 million. For the next financial year, analysts forecast that the firm will report sales of $677.62 million, with estimates ranging from $657.80 million to $697.43 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Pretium Resources.
Pretium Resources (NYSE:PVG) (TSE:PVG) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Pretium Resources had a net margin of 6.48% and a return on equity of 8.83%. The firm had revenue of $113.20 million during the quarter, compared to analyst estimates of $143.99 million. The firm’s revenue was up 9.9% compared to the same quarter last year.
Several equities analysts have recently issued reports on PVG shares. ValuEngine upgraded shares of Pretium Resources from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. HC Wainwright reiterated a “buy” rating and set a $16.50 target price on shares of Pretium Resources in a report on Thursday, July 11th. Canaccord Genuity reiterated an “average” rating and set a $17.75 target price on shares of Pretium Resources in a report on Friday, July 19th. Royal Bank of Canada reiterated a “buy” rating on shares of Pretium Resources in a report on Wednesday, June 26th. Finally, B. Riley set a $23.00 target price on shares of Pretium Resources and gave the company a “buy” rating in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $16.11.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in shares of Pretium Resources by 41.1% during the fourth quarter. Advisor Group Inc. now owns 6,665 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 1,940 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Pretium Resources in the 2nd quarter worth approximately $110,000. IHT Wealth Management LLC bought a new stake in Pretium Resources in the 2nd quarter worth approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pretium Resources by 84.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,241 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 6,512 shares during the period. Finally, Clean Yield Group bought a new stake in Pretium Resources in the 1st quarter worth approximately $137,000. 51.62% of the stock is owned by institutional investors.
Shares of PVG stock traded down $0.22 during trading hours on Friday, hitting $12.77. 996,961 shares of the company’s stock traded hands, compared to its average volume of 2,024,141. The stock has a fifty day moving average price of $11.10. Pretium Resources has a 12-month low of $6.53 and a 12-month high of $13.50. The firm has a market cap of $2.38 billion, a PE ratio of 23.64 and a beta of -0.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 0.63.
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.
See Also: Cost of Goods Sold (COGS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pretium Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pretium Resources and related companies with MarketBeat.com's FREE daily email newsletter.