HC Wainwright Cuts Pretium Resources (NYSE:PVG) Price Target to $15.00

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Pretium Resources (NYSE:PVG) (TSE:PVG) had its target price cut by analysts at HC Wainwright from $20.50 to $15.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target indicates a potential upside of 102.43% from the company’s current price.

Several other equities analysts have also weighed in on PVG. Alliance Global Partners lowered shares of Pretium Resources from a “buy” rating to a “neutral” rating in a report on Wednesday. Roth Capital lowered shares of Pretium Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $8.00 in a report on Wednesday. Royal Bank of Canada lowered shares of Pretium Resources from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $20.00 to $16.00 in a report on Friday, November 1st. ValuEngine lowered shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Finally, Zacks Investment Research upgraded shares of Pretium Resources from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Pretium Resources presently has a consensus rating of “Hold” and a consensus target price of $14.35.

NYSE:PVG opened at $7.41 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.23 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.80 and a beta of -0.57. The firm’s fifty day simple moving average is $10.45 and its 200 day simple moving average is $11.12. Pretium Resources has a twelve month low of $6.80 and a twelve month high of $13.83.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its earnings results on Wednesday, February 12th. The basic materials company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.08. The business had revenue of $135.50 million for the quarter, compared to analyst estimates of $173.18 million. Pretium Resources had a net margin of 8.44% and a return on equity of 10.93%. During the same quarter in the previous year, the business posted $0.11 EPS. On average, analysts predict that Pretium Resources will post 0.95 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Gabelli Funds LLC lifted its holdings in Pretium Resources by 30.3% in the 3rd quarter. Gabelli Funds LLC now owns 1,686,775 shares of the basic materials company’s stock worth $19,415,000 after buying an additional 391,775 shares in the last quarter. Bennicas & Associates Inc. lifted its holdings in Pretium Resources by 22.7% in the 4th quarter. Bennicas & Associates Inc. now owns 16,200 shares of the basic materials company’s stock worth $180,000 after buying an additional 3,000 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Pretium Resources in the 3rd quarter worth $1,089,000. Alberta Investment Management Corp acquired a new position in Pretium Resources in the 3rd quarter worth $3,459,000. Finally, Millennium Management LLC lifted its holdings in Pretium Resources by 848.6% in the 3rd quarter. Millennium Management LLC now owns 619,956 shares of the basic materials company’s stock worth $7,135,000 after buying an additional 554,604 shares in the last quarter. Hedge funds and other institutional investors own 52.20% of the company’s stock.

About Pretium Resources

Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. The company primarily explores for gold, silver, and copper deposits. Its principal project is the Brucejack project that consists of 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.

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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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