Pretium Resources (PVG) Cut to Strong Sell at ValuEngine

ValuEngine cut shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a sell rating to a strong sell rating in a research report report published on Tuesday.

Other research analysts also recently issued reports about the stock. HC Wainwright set a $15.00 price target on shares of Pretium Resources and gave the stock a buy rating in a research note on Friday, August 10th. Zacks Investment Research raised shares of Pretium Resources from a hold rating to a buy rating and set a $9.50 price target on the stock in a research note on Tuesday, July 17th. Finally, Citigroup decreased their price target on shares of Pretium Resources from $13.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $12.60.

Shares of PVG opened at $8.25 on Tuesday. The company has a market capitalization of $1.40 billion, a P/E ratio of 82.50 and a beta of -0.12. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42. Pretium Resources has a 1-year low of $6.17 and a 1-year high of $12.24.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $146.48 million for the quarter, compared to the consensus estimate of $141.20 million. Pretium Resources had a net margin of 3.22% and a return on equity of 8.67%. On average, analysts anticipate that Pretium Resources will post 0.6 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake in shares of Pretium Resources by 14.8% during the second quarter. Van ECK Associates Corp now owns 22,825,820 shares of the basic materials company’s stock worth $167,542,000 after acquiring an additional 2,937,669 shares in the last quarter. Swiss National Bank raised its stake in shares of Pretium Resources by 10.2% during the second quarter. Swiss National Bank now owns 295,848 shares of the basic materials company’s stock worth $2,169,000 after acquiring an additional 27,500 shares in the last quarter. Letko Brosseau & Associates Inc. raised its stake in shares of Pretium Resources by 80.1% during the second quarter. Letko Brosseau & Associates Inc. now owns 8,606,900 shares of the basic materials company’s stock worth $63,270,000 after acquiring an additional 3,827,450 shares in the last quarter. Global X Management Co LLC raised its stake in shares of Pretium Resources by 24.4% during the second quarter. Global X Management Co LLC now owns 226,467 shares of the basic materials company’s stock worth $1,665,000 after acquiring an additional 44,357 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Pretium Resources by 97.1% during the first quarter. LPL Financial LLC now owns 24,310 shares of the basic materials company’s stock worth $162,000 after acquiring an additional 11,977 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

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