Pretium Resources, Inc. (PVG) Given Consensus Rating of “Buy” by Brokerages

Shares of Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) have received an average rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $14.88.

A number of research firms recently issued reports on PVG. BidaskClub cut Pretium Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. HC Wainwright restated a “buy” rating and set a $16.50 price objective on shares of Pretium Resources in a report on Thursday, August 17th. Roth Capital boosted their price objective on Pretium Resources from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, October 11th. Citigroup Inc. restated a “buy” rating on shares of Pretium Resources in a report on Wednesday, September 6th. Finally, Zacks Investment Research cut Pretium Resources from a “hold” rating to a “sell” rating in a report on Saturday, July 8th.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in PVG. Bank of New York Mellon Corp bought a new position in shares of Pretium Resources in the 1st quarter worth $108,000. FMR LLC raised its position in shares of Pretium Resources by 1.9% in the 1st quarter. FMR LLC now owns 1,912,083 shares of the basic materials company’s stock worth $20,503,000 after acquiring an additional 35,000 shares in the last quarter. Legal & General Group Plc raised its position in shares of Pretium Resources by 30.0% in the 1st quarter. Legal & General Group Plc now owns 22,100 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 5,100 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pretium Resources by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,802,494 shares of the basic materials company’s stock worth $30,015,000 after acquiring an additional 140,724 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Pretium Resources by 23.9% in the 1st quarter. Morgan Stanley now owns 131,772 shares of the basic materials company’s stock worth $1,411,000 after acquiring an additional 25,401 shares in the last quarter. 43.34% of the stock is owned by hedge funds and other institutional investors.

Pretium Resources (PVG) traded up $0.11 on Friday, reaching $11.30. The company had a trading volume of 1,027,767 shares, compared to its average volume of 2,317,453. Pretium Resources has a one year low of $6.82 and a one year high of $12.53. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.74.

Pretium Resources Company 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.

Analyst Recommendations for Pretium Resources (NYSE:PVG)

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