Pretium Resources (PVG) Shares Down 3.7%

Pretium Resources Inc (TSE:PVG) (NYSE:PVG) dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as C$8.43 and last traded at C$8.44. Approximately 279,143 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 869,391 shares. The stock had previously closed at C$8.76.

PVG has been the subject of several analyst reports. Scotiabank lowered shares of Pretium Resources from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$19.00 to C$17.75 in a report on Wednesday, January 24th. Royal Bank of Canada lowered their target price on shares of Pretium Resources from C$18.00 to C$14.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Finally, CIBC lowered shares of Pretium Resources from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from C$18.00 to C$14.50 in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$16.88.

The company has a market cap of $1,600.00, a price-to-earnings ratio of -56.27 and a beta of -0.38.

In related news, Director Robert Allan Quartermain purchased 5,000 shares of Pretium Resources stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of C$8.96 per share, with a total value of C$44,800.00. Also, Director Christopher Noel Dunn sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of C$14.71, for a total transaction of C$588,400.00.

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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.

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