Pretium Resources (PVG) Rating Lowered to Sell at ValuEngine

Pretium Resources (NYSE:PVG) (TSE:PVG) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.

PVG has been the subject of a number of other reports. Zacks Investment Research lowered shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Saturday, January 5th. HC Wainwright set a $15.00 target price on shares of Pretium Resources and gave the stock a “buy” rating in a report on Wednesday, October 10th. CIBC reiterated a “hold” rating and set a $13.00 target price on shares of Pretium Resources in a report on Sunday, December 16th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Pretium Resources in a report on Sunday, October 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Pretium Resources has a consensus rating of “Hold” and an average price target of $11.95.

NYSE PVG opened at $7.00 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.16. Pretium Resources has a 12-month low of $6.17 and a 12-month high of $11.68. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 70.00 and a beta of -0.31.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its earnings results on Thursday, November 8th. The basic materials company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. The company had revenue of $110.06 million during the quarter, compared to analyst estimates of $109.70 million. Pretium Resources had a net margin of 6.85% and a return on equity of 10.62%. Sell-side analysts predict that Pretium Resources will post 0.63 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Swiss National Bank increased its position in Pretium Resources by 10.2% in the 2nd quarter. Swiss National Bank now owns 295,848 shares of the basic materials company’s stock worth $2,169,000 after buying an additional 27,500 shares during the period. Private Advisor Group LLC bought a new position in Pretium Resources in the 2nd quarter worth approximately $108,000. Janus Henderson Group PLC increased its position in Pretium Resources by 103.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,084,633 shares of the basic materials company’s stock worth $7,973,000 after buying an additional 552,400 shares during the period. Raymond James & Associates increased its position in Pretium Resources by 57.5% in the 2nd quarter. Raymond James & Associates now owns 55,790 shares of the basic materials company’s stock worth $409,000 after buying an additional 20,361 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Pretium Resources by 166.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 27,230 shares of the basic materials company’s stock worth $200,000 after buying an additional 17,014 shares during the period. Institutional investors own 54.95% of the company’s stock.

About Pretium Resources

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.

See Also: Short Selling

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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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