B. Riley Raises Pretium Resources (NYSE:PVG) Price Target to $25.40

Pretium Resources (NYSE:PVG) (TSE:PVG) had its price target upped by B. Riley from $22.60 to $25.40 in a research note released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other research firms have also recently issued reports on PVG. Royal Bank of Canada reissued a buy rating on shares of Pretium Resources in a research note on Monday, August 26th. BMO Capital Markets set a $24.00 target price on Pretium Resources and gave the company a buy rating in a research note on Friday, September 6th. HC Wainwright raised their target price on Pretium Resources from $16.50 to $22.00 and gave the company a buy rating in a research note on Monday, August 19th. Zacks Investment Research cut Pretium Resources from a buy rating to a hold rating in a research note on Tuesday, August 27th. Finally, Canaccord Genuity reaffirmed an average rating and set a $17.75 target price on shares of Pretium Resources in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Pretium Resources presently has a consensus rating of Buy and an average target price of $18.16.

Shares of NYSE:PVG traded up $0.05 on Monday, hitting $11.72. The company’s stock had a trading volume of 129,198 shares, compared to its average volume of 2,041,436. Pretium Resources has a 12 month low of $6.65 and a 12 month high of $13.83. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 21.70 and a beta of -0.50. The stock’s 50-day moving average is $12.48 and its two-hundred day moving average is $9.73. 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 (NYSE:PVG) (TSE:PVG) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Pretium Resources had a return on equity of 8.83% and a net margin of 6.48%. The company had revenue of $113.20 million during the quarter, compared to analysts’ expectations of $143.99 million. The company’s revenue was up 9.9% on a year-over-year basis. Equities analysts expect that Pretium Resources will post 0.7 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. lifted its holdings in shares of Pretium Resources by 3.3% during the first quarter. Letko Brosseau & Associates Inc. now owns 14,564,497 shares of the basic materials company’s stock valued at $124,501,000 after purchasing an additional 466,100 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pretium Resources by 4.4% during the second quarter. Vanguard Group Inc. now owns 4,626,044 shares of the basic materials company’s stock valued at $46,307,000 after purchasing an additional 195,522 shares during the last quarter. Morgan Stanley lifted its stake in Pretium Resources by 22.0% in the 2nd quarter. Morgan Stanley now owns 3,066,473 shares of the basic materials company’s stock worth $30,696,000 after acquiring an additional 553,135 shares in the last quarter. Waterton Global Resource Management Inc. lifted its stake in Pretium Resources by 1.8% in the 2nd quarter. Waterton Global Resource Management Inc. now owns 2,962,667 shares of the basic materials company’s stock worth $29,656,000 after acquiring an additional 53,431 shares in the last quarter. Finally, Investec Asset Management LTD lifted its stake in Pretium Resources by 70.4% in the 2nd quarter. Investec Asset Management LTD now owns 1,874,535 shares of the basic materials company’s stock worth $18,778,000 after acquiring an additional 774,417 shares in the last quarter. 51.48% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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