Pretium Resources, Inc. (PVG) Cut to “Hold” at BidaskClub
Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday, July 13th.
PVG has been the topic of several other reports. Roth Capital set a $16.00 price target on shares of Pretium Resources and gave the stock a “buy” rating in a research note on Saturday, March 18th. Credit Suisse Group assumed coverage on shares of Pretium Resources in a research note on Monday, March 20th. They set an “outperform” rating and a $13.50 price target on the stock. ValuEngine downgraded shares of Pretium Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Citigroup Inc. restated a “buy” rating and issued a $13.00 target price on shares of Pretium Resources in a report on Tuesday, June 6th. Finally, Zacks Investment Research cut shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.75.
Pretium Resources (NYSE PVG) opened at 8.14 on Thursday. The firm’s 50-day moving average is $9.56 and its 200 day moving average is $10.03. The stock’s market capitalization is $1.47 billion. Pretium Resources has a 52-week low of $6.82 and a 52-week high of $12.53.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Pretium Resources by 950.4% in the first quarter. Bank of Montreal Can now owns 4,033,263 shares of the basic materials company’s stock valued at $43,196,000 after buying an additional 3,649,305 shares during the period. Van ECK Associates Corp boosted its stake in shares of Pretium Resources by 12.8% in the first quarter. Van ECK Associates Corp now owns 20,224,840 shares of the basic materials company’s stock worth $216,606,000 after buying an additional 2,290,824 shares during the period. Norges Bank acquired a new stake in shares of Pretium Resources during the fourth quarter worth approximately $5,933,000. Goldman Sachs Group Inc. boosted its stake in shares of Pretium Resources by 73.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,486,432 shares of the basic materials company’s stock worth $15,920,000 after buying an additional 630,946 shares during the period. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Pretium Resources during the first quarter worth approximately $6,005,000. Institutional investors and hedge funds own 47.75% of the company’s stock.
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.
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