Zacks Investment Research upgraded shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. They currently have $13.00 price objective on the basic materials company’s stock.
According to Zacks, “Pretium Resources Inc. is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. The Company owns the Snowfield and Brucejack Projects located in Northwest British Columbia, Canada. Its mineral interests consist of gold/copper/silver exploration projects. Pretium Resources Inc. is headquartered in Vancouver, Canada. “
Other research analysts also recently issued reports about the company. Scotiabank boosted their target price on Pretium Resources from $12.00 to $13.50 and gave the stock a sector perform rating in a research note on Tuesday, October 13th. TheStreet upgraded Pretium Resources from a c rating to a b- rating in a research note on Thursday, August 20th. HC Wainwright boosted their price target on Pretium Resources from $10.50 to $17.50 and gave the company a buy rating in a research note on Monday, August 10th. Canaccord Genuity cut Pretium Resources to a hold rating and set a $17.25 price objective for the company. in a report on Tuesday, October 27th. Finally, ValuEngine cut Pretium Resources from a hold rating to a sell rating in a report on Thursday, November 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Pretium Resources has a consensus rating of Hold and an average price target of $15.85.
Shares of NYSE PVG opened at $11.76 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $12.02 and a two-hundred day simple moving average of $11.03. The firm has a market cap of $2.20 billion, a PE ratio of 33.60 and a beta of 0.90. Pretium Resources has a twelve month low of $4.05 and a twelve month high of $14.55.
Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its earnings results on Thursday, October 29th. The basic materials company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.09. Pretium Resources had a return on equity of 14.77% and a net margin of 11.55%. The business had revenue of $154.88 million during the quarter, compared to analyst estimates of $205.32 million. During the same period in the previous year, the company posted $0.18 EPS. Pretium Resources’s revenue was up 16.7% on a year-over-year basis. On average, research analysts expect that Pretium Resources will post 0.66 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in PVG. Bennicas & Associates Inc. lifted its position in shares of Pretium Resources by 9.3% during the third quarter. Bennicas & Associates Inc. now owns 17,700 shares of the basic materials company’s stock worth $227,000 after purchasing an additional 1,500 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Pretium Resources by 3.3% during the third quarter. Acadian Asset Management LLC now owns 51,455 shares of the basic materials company’s stock valued at $657,000 after acquiring an additional 1,655 shares during the period. Capstone Financial Group Inc. acquired a new position in shares of Pretium Resources during the third quarter valued at approximately $25,000. Great West Life Assurance Co. Can boosted its holdings in Pretium Resources by 8.3% during the third quarter. Great West Life Assurance Co. Can now owns 26,354 shares of the basic materials company’s stock worth $479,000 after buying an additional 2,015 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in Pretium Resources by 12.2% during the second quarter. Profund Advisors LLC now owns 20,720 shares of the basic materials company’s stock worth $174,000 after buying an additional 2,254 shares in the last quarter. Institutional investors own 57.21% of the company’s stock.
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 3,305.85 hectares located in northwestern British Columbia.
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