Pretium Resources (NYSE:PVG) (TSE:PVG) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a research report issued on Thursday, Zacks.com reports.
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. "
A number of other analysts have also commented on the company. TheStreet raised Pretium Resources from a "d+" rating to a "c-" rating in a research report on Tuesday, April 27th. CIBC decreased their target price on Pretium Resources from C$16.00 to C$14.50 in a research report on Wednesday, June 23rd. Canaccord Genuity lowered Pretium Resources from a "speculative buy" rating to a "hold" rating in a research report on Wednesday, April 21st. Finally, Roth Capital decreased their target price on Pretium Resources from $17.50 to $16.00 and set a "buy" rating for the company in a research report on Thursday, May 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus price target of $15.54.
PVG traded down $0.03 during midday trading on Thursday, hitting $9.50. 9,263 shares of the company were exchanged, compared to its average volume of 1,466,486. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -105.56 and a beta of 0.74. Pretium Resources has a 1-year low of $8.26 and a 1-year high of $14.55. The business has a 50 day moving average price of $10.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.96.
Pretium Resources (NYSE:PVG) (TSE:PVG) last announced its earnings results on Tuesday, May 4th. The basic materials company reported $0.14 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.20 by ($0.06). The company had revenue of $142.40 million for the quarter, compared to analyst estimates of $206.51 million. Pretium Resources had a positive return on equity of 18.84% and a negative net margin of 2.85%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, equities analysts predict that Pretium Resources will post 0.64 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new position in Pretium Resources in the first quarter valued at $98,000. Versor Investments LP purchased a new stake in Pretium Resources during the first quarter valued at about $105,000. Usca Ria LLC boosted its position in Pretium Resources by 10.0% during the first quarter. Usca Ria LLC now owns 11,000 shares of the basic materials company's stock valued at $114,000 after buying an additional 1,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Pretium Resources during the fourth quarter valued at about $124,000. Finally, ADE LLC purchased a new stake in Pretium Resources during the fourth quarter valued at about $125,000. 55.23% of the stock is currently owned by hedge funds and other 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 and silver deposits. It holds 100% interests in the Brucejack project that consists of 4 mining leases and 6 mineral claims covering an area of 3,306 hectares located in northwestern British Columbia.