Pretium Resources, Inc. (PVG) Stake Boosted by Prudential PLC
Prudential PLC raised its holdings in shares of Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) by 27.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,540,263 shares of the basic materials company’s stock after purchasing an additional 1,180,973 shares during the period. Prudential PLC owned 3.06% of Pretium Resources worth $53,242,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PVG. Legal & General Group Plc lifted its holdings in shares of Pretium Resources by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 23,090 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 990 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Pretium Resources by 0.6% in the 2nd quarter. TD Asset Management Inc. now owns 752,822 shares of the basic materials company’s stock worth $7,223,000 after purchasing an additional 4,300 shares in the last quarter. Swiss National Bank boosted its position in shares of Pretium Resources by 3.3% in the 2nd quarter. Swiss National Bank now owns 259,948 shares of the basic materials company’s stock worth $2,498,000 after purchasing an additional 8,400 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Pretium Resources in the 1st quarter worth $108,000. Finally, World Asset Management Inc acquired a new stake in shares of Pretium Resources in the 2nd quarter worth $102,000. 43.25% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. Roth Capital set a $16.00 target price on Pretium Resources and gave the stock a “buy” rating in a research note on Friday, August 18th. HC Wainwright reiterated a “buy” rating and issued a $16.50 price target on shares of Pretium Resources in a research note on Thursday, August 17th. BidaskClub upgraded Pretium Resources from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Credit Suisse Group set a $13.00 price target on Pretium Resources and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $13.00 price target on shares of Pretium Resources in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Pretium Resources presently has a consensus rating of “Hold” and a consensus price target of $14.93.
Shares of Pretium Resources, Inc. (PVG) traded up 1.70% during midday trading on Wednesday, hitting $9.56. 383,884 shares of the stock were exchanged. The stock has a 50 day moving average price of $8.62 and a 200-day moving average price of $9.42. Pretium Resources, Inc. has a 12 month low of $6.82 and a 12 month high of $12.53. The company’s market cap is $1.73 billion.
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Pretium Resources Profile
Pretium Resources Inc is a Canada-based exploration and development company. The Company is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. The Company’s projects include Brucejack Project and the Snowfield Project, both of which are located in northwestern British Columbia.
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