Pretium Resources (NYSE:PVG) Price Target Cut to $16.00 by Analysts at B. Riley

Pretium Resources (NYSE:PVG) (TSE:PVG) had its target price lowered by B. Riley from $26.00 to $16.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the basic materials company’s stock. B. Riley also issued estimates for Pretium Resources’ FY2020 earnings at $1.17 EPS and FY2021 earnings at $1.41 EPS.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Pretium Resources from a hold rating to a buy rating and set a $12.00 price objective on the stock in a report on Wednesday, January 15th. Roth Capital cut Pretium Resources from a buy rating to a neutral rating and decreased their price objective for the stock from $15.00 to $8.00 in a report on Wednesday. Royal Bank of Canada cut Pretium Resources from an outperform rating to a sector perform rating and decreased their price objective for the stock from $20.00 to $16.00 in a report on Friday, November 1st. Canaccord Genuity cut Pretium Resources from a buy rating to a hold rating and decreased their price objective for the stock from $18.50 to $12.50 in a report on Wednesday. Finally, HC Wainwright decreased their price objective on Pretium Resources from $20.50 to $15.00 and set a buy rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $14.35.

NYSE:PVG traded down $0.04 during trading hours on Thursday, reaching $7.41. 3,832,100 shares of the company traded hands, compared to its average volume of 1,952,732. The firm’s 50-day moving average is $10.52 and its 200-day moving average is $11.14. The stock has a market cap of $1.38 billion, a P/E ratio of 61.76 and a beta of -0.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.38 and a quick ratio of 0.23. Pretium Resources has a 1-year low of $6.80 and a 1-year high of $13.83.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its quarterly earnings data on Wednesday, February 12th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Pretium Resources had a return on equity of 9.57% and a net margin of 5.18%. The business had revenue of $135.50 million for the quarter, compared to analysts’ expectations of $173.18 million. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, research analysts predict that Pretium Resources will post 0.47 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of PVG. Usca Ria LLC purchased a new position in shares of Pretium Resources in the 3rd quarter worth $46,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Pretium Resources in the 3rd quarter worth $47,000. Banque Cantonale Vaudoise purchased a new position in shares of Pretium Resources in the 4th quarter worth $99,000. NEXT Financial Group Inc purchased a new position in shares of Pretium Resources in the 3rd quarter worth $176,000. Finally, Bennicas & Associates Inc. raised its position in shares of Pretium Resources by 22.7% in the 4th quarter. Bennicas & Associates Inc. now owns 16,200 shares of the basic materials company’s stock worth $180,000 after buying an additional 3,000 shares during the period. 52.20% of the stock is currently 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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