Pretium Resources (NYSE:PVG) Lowered to Hold at Canaccord Genuity


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Canaccord Genuity cut shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a speculative buy rating to a hold rating in a research report released on Wednesday morning, The Fly reports.

PVG has been the subject of several other research reports. HC Wainwright lowered their target price on shares of Pretium Resources from $17.00 to $16.00 and set a buy rating for the company in a report on Monday, March 8th. Zacks Investment Research upgraded shares of Pretium Resources from a hold rating to a strong-buy rating and set a $13.00 price target for the company in a research note on Wednesday, March 24th. Roth Capital decreased their price target on shares of Pretium Resources from $18.50 to $17.50 and set a buy rating for the company in a research note on Tuesday, January 19th. TheStreet cut shares of Pretium Resources from a b- rating to a d+ rating in a research note on Friday, March 19th. Finally, National Bank Financial assumed coverage on shares of Pretium Resources in a research note on Thursday, January 7th. They issued a sector perform rating for the company. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Pretium Resources currently has a consensus rating of Buy and an average target price of $17.31.

Shares of NYSE:PVG opened at $11.55 on Wednesday. Pretium Resources has a 52 week low of $7.55 and a 52 week high of $14.55. The company’s 50 day moving average is $10.82 and its two-hundred day moving average is $11.34. The company has a current ratio of 1.62, a quick ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.17 billion, a PE ratio of 23.57 and a beta of 0.77.

Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its earnings results on Thursday, February 25th. The basic materials company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. Pretium Resources had a net margin of 15.38% and a return on equity of 16.09%. The business had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $167.20 million. As a group, equities research analysts expect that Pretium Resources will post 0.63 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in PVG. Van ECK Associates Corp increased its holdings in shares of Pretium Resources by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 20,102,560 shares of the basic materials company’s stock valued at $258,116,000 after purchasing an additional 1,989,082 shares in the last quarter. Sprott Inc. increased its holdings in shares of Pretium Resources by 798.8% in the 3rd quarter. Sprott Inc. now owns 2,191,480 shares of the basic materials company’s stock valued at $28,040,000 after purchasing an additional 1,947,660 shares in the last quarter. Norges Bank purchased a new position in shares of Pretium Resources in the 4th quarter valued at about $21,272,000. TSP Capital Management Group LLC increased its holdings in shares of Pretium Resources by 114.6% in the 1st quarter. TSP Capital Management Group LLC now owns 560,980 shares of the basic materials company’s stock valued at $5,817,000 after purchasing an additional 299,600 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of Pretium Resources by 35.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 900,772 shares of the basic materials company’s stock valued at $10,340,000 after purchasing an additional 236,796 shares in the last quarter. Institutional investors and hedge funds own 58.21% 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 and silver deposits. It holds 100% interests in the Brucejack project that consists of 4 mining leases and 6 mineral claims covering an area of 3,306 hectares located in northwestern British Columbia.

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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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