Pretium Resources, Inc. (PVG) Receives $15.50 Average PT from Brokerages

Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) has earned a consensus rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.50.

A number of research analysts have commented on PVG shares. Citigroup Inc. restated a “buy” rating and set a $13.00 price objective on shares of Pretium Resources in a research note on Tuesday, June 6th. ValuEngine cut Pretium Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. BidaskClub upgraded Pretium Resources from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Zacks Investment Research cut Pretium Resources from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Pretium Resources during the fourth quarter worth approximately $5,933,000. Highbridge Capital Management LLC boosted its position in Pretium Resources by 479.2% in the fourth quarter. Highbridge Capital Management LLC now owns 38,300 shares of the basic materials company’s stock valued at $317,000 after buying an additional 48,400 shares during the period. Bank of Montreal Can boosted its position in Pretium Resources by 950.4% in the first quarter. Bank of Montreal Can now owns 4,033,263 shares of the basic materials company’s stock valued at $43,196,000 after buying an additional 3,649,305 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Pretium Resources during the first quarter valued at approximately $1,742,000. Finally, ASA Gold & Precious Metals Ltd boosted its position in Pretium Resources by 31.6% in the first quarter. ASA Gold & Precious Metals Ltd now owns 625,000 shares of the basic materials company’s stock valued at $6,694,000 after buying an additional 150,000 shares during the period. Institutional investors own 47.73% of the company’s stock.

Shares of Pretium Resources (NYSE PVG) traded up 0.10% during midday trading on Friday, reaching $9.68. The company’s stock had a trading volume of 334,242 shares. The firm’s 50 day moving average is $9.52 and its 200 day moving average is $10.06. Pretium Resources has a 52 week low of $6.82 and a 52 week high of $12.53. The firm’s market capitalization is $1.75 billion.

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About Pretium Resources

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.