HighTower Advisors LLC Buys New Position in Pretium Resources, Inc. (NYSE:PVG)
HighTower Advisors LLC purchased a new position in Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) during the first quarter, according to its most recent filing with the SEC. The fund purchased 27,362 shares of the basic materials company’s stock, valued at approximately $294,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Pretium Resources by 12.8% in the first quarter. Van ECK Associates Corp now owns 20,224,840 shares of the basic materials company’s stock valued at $216,606,000 after buying an additional 2,290,824 shares during the period. Bank of Montreal Can raised its position in Pretium Resources by 950.4% in the first quarter. Bank of Montreal Can now owns 4,033,263 shares of the basic materials company’s stock valued at $43,196,000 after buying an additional 3,649,305 shares during the period. Vanguard Group Inc. raised its position in Pretium Resources by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,802,494 shares of the basic materials company’s stock valued at $30,015,000 after buying an additional 140,724 shares during the period. FMR LLC raised its position in Pretium Resources by 1.9% in the first quarter. FMR LLC now owns 1,912,083 shares of the basic materials company’s stock valued at $20,503,000 after buying an additional 35,000 shares during the period. Finally, Norges Bank purchased a new position in Pretium Resources during the fourth quarter valued at approximately $5,933,000. 47.75% of the stock is owned by hedge funds and other institutional investors.
Pretium Resources, Inc. (NYSE:PVG) opened at 8.37 on Tuesday. Pretium Resources, Inc. has a 1-year low of $6.82 and a 1-year high of $12.53. The stock has a 50 day moving average of $9.54 and a 200 day moving average of $10.05. The stock’s market cap is $1.51 billion.
Several analysts have recently commented on the stock. BidaskClub raised shares of Pretium Resources from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Citigroup Inc. reaffirmed a “buy” rating and set a $13.00 price objective on shares of Pretium Resources in a report on Tuesday, June 6th. Zacks Investment Research cut shares of Pretium Resources from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, ValuEngine cut shares of Pretium Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Pretium Resources currently has an average rating of “Hold” and an average price target of $14.75.
About Pretium Resources
Pretium Resources Inc is a Canada-based exploration and development company. The Company is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. The Company’s projects include Brucejack Project and the Snowfield Project, both of which are located in northwestern British Columbia.
