Pretium Resources Inc. (NYSE:PVG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Pretium Resources Inc. is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. The Company owns the Snowfield and Brucejack Projects located in Northwest British Columbia, Canada. Its mineral interests consist of gold/copper/silver exploration projects. Pretium Resources Inc. is headquartered in Vancouver, Canada. “

Shares of Pretium Resources (NYSE:PVG) opened at 8.94 on Wednesday. The firm’s market cap is $1.60 billion. Pretium Resources has a 52 week low of $4.00 and a 52 week high of $12.41. The stock has a 50 day moving average price of $9.65 and a 200 day moving average price of $9.87.

Several hedge funds have recently modified their holdings of PVG. Tower Research Capital LLC TRC boosted its stake in shares of Pretium Resources by 15.3% in the third quarter. Tower Research Capital LLC TRC now owns 11,419 shares of the company’s stock valued at $117,000 after buying an additional 1,519 shares during the period. BNP Paribas Arbitrage SA bought a new stake in shares of Pretium Resources during the third quarter valued at approximately $120,000. IFP Advisors Inc boosted its stake in shares of Pretium Resources by 1,343.5% in the second quarter. IFP Advisors Inc now owns 13,136 shares of the company’s stock valued at $147,000 after buying an additional 12,226 shares during the period. Legal & General Group Plc boosted its stake in shares of Pretium Resources by 91.0% in the second quarter. Legal & General Group Plc now owns 17,000 shares of the company’s stock valued at $189,000 after buying an additional 8,100 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Pretium Resources by 30.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 17,362 shares of the company’s stock valued at $194,000 after buying an additional 4,007 shares during the period. 43.06% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:PVG

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