ValuEngine Upgrades Pretium Resources (NYSE:PVG) to “Hold”

ValuEngine upgraded shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a sell rating to a hold rating in a report issued on Tuesday, ValuEngine reports.

PVG has been the subject of a number of other reports. B. Riley lowered their price target on Pretium Resources from $25.40 to $23.40 and set a buy rating for the company in a research note on Monday, October 21st. BMO Capital Markets set a $24.00 price target on shares of Pretium Resources and gave the company a buy rating in a research report on Friday, September 6th. Scotiabank set a $15.00 price objective on shares of Pretium Resources and gave the stock a hold rating in a research note on Wednesday, September 18th. Royal Bank of Canada cut shares of Pretium Resources from an outperform rating to a sector perform rating and decreased their price objective for the company from $20.00 to $16.00 in a report on Friday, November 1st. Finally, HC Wainwright restated a buy rating and set a $20.50 price objective on shares of Pretium Resources in a report on Friday, November 1st. Seven investment analysts have rated the stock with 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 $17.18.

NYSE:PVG opened at $10.32 on Tuesday. Pretium Resources has a 12-month low of $6.65 and a 12-month high of $13.83. The company has a quick ratio of 0.23, a current ratio of 0.38 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.91 billion, a P/E ratio of 19.11 and a beta of -0.68. The stock’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $10.84.

Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Pretium Resources had a net margin of 5.18% and a return on equity of 9.57%. The company had revenue of $132.74 million during the quarter, compared to the consensus estimate of $165.97 million. As a group, equities research analysts expect that Pretium Resources will post 0.47 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the business. Usca Ria LLC bought a new stake in shares of Pretium Resources in the third quarter worth about $46,000. Steward Partners Investment Advisory LLC bought a new stake in Pretium Resources during the 3rd quarter worth approximately $47,000. Quantitative Systematic Strategies LLC bought a new stake in Pretium Resources during the 2nd quarter worth approximately $110,000. IHT Wealth Management LLC acquired a new stake in Pretium Resources during the 2nd quarter worth approximately $119,000. Finally, Advisor Group Inc. raised its holdings in Pretium Resources by 12.8% during the 2nd quarter. Advisor Group Inc. now owns 13,995 shares of the basic materials company’s stock worth $141,000 after buying an additional 1,583 shares during the period. Institutional investors own 52.27% 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 3,304 hectares located in northwestern British Columbia.

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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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