Pretium Resources, Inc. (PVG) Rating Increased to Hold at ValuEngine

Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, October 6th.

Several other analysts have also commented on PVG. Zacks Investment Research raised shares of Pretium Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. HC Wainwright reissued a “buy” rating and set a $16.50 price target on shares of Pretium Resources in a research report on Thursday, August 17th. Roth Capital set a $16.00 price objective on shares of Pretium Resources and gave the company a “buy” rating in a research report on Friday, August 18th. Credit Suisse Group set a $13.00 price objective on shares of Pretium Resources and gave the company a “buy” rating in a research report on Friday, August 11th. Finally, BidaskClub raised shares of Pretium Resources from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.36.

Shares of Pretium Resources (NYSE:PVG) opened at 11.15 on Friday. Pretium Resources has a 1-year low of $6.82 and a 1-year high of $12.53. The company’s market cap is $2.02 billion. The firm’s 50 day moving average is $9.43 and its 200-day moving average is $9.41.

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A number of institutional investors have recently added to or reduced their stakes in PVG. Prudential PLC grew its stake in Pretium Resources by 27.1% in the 2nd quarter. Prudential PLC now owns 5,540,263 shares of the basic materials company’s stock valued at $53,242,000 after acquiring an additional 1,180,973 shares during the period. Goldman Sachs Group Inc. boosted its stake in Pretium Resources by 73.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,486,432 shares of the basic materials company’s stock worth $15,920,000 after purchasing an additional 630,946 shares during the last quarter. OppenheimerFunds Inc. acquired a new stake in Pretium Resources during the 1st quarter worth $6,005,000. Commonwealth Bank of Australia boosted its stake in Pretium Resources by 13.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,691,900 shares of the basic materials company’s stock worth $25,826,000 after purchasing an additional 319,200 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new stake in Pretium Resources during the 2nd quarter worth $2,718,000. 43.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Pretium Resources (NYSE:PVG)

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