Zacks Investment Research Lowers Pretium Resources, Inc. (PVG) to Hold
Zacks Investment Research lowered shares of Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) from a buy rating to a hold rating in a research report released on Friday morning.
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. “
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Pretium Resources from a hold rating to a sell rating in a report on Wednesday, August 16th. Roth Capital set a $17.00 price objective on shares of Pretium Resources and gave the stock a buy rating in a report on Monday, November 13th. HC Wainwright reaffirmed a buy rating and set a $16.50 price objective on shares of Pretium Resources in a report on Thursday, August 17th. Citigroup Inc. reaffirmed a buy rating on shares of Pretium Resources in a report on Wednesday, September 6th. Finally, CIBC raised shares of Pretium Resources from a neutral rating to an outperform rating in a report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $15.36.
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Several large investors have recently modified their holdings of PVG. Van ECK Associates Corp boosted its holdings in shares of Pretium Resources by 74.0% in the 3rd quarter. Van ECK Associates Corp now owns 18,706,377 shares of the basic materials company’s stock worth $173,222,000 after buying an additional 7,956,917 shares during the last quarter. Ninepoint Partners LP purchased a new position in shares of Pretium Resources in the 3rd quarter worth about $17,636,000. Prudential PLC boosted its holdings in shares of Pretium Resources by 27.1% in the 2nd quarter. Prudential PLC now owns 5,540,263 shares of the basic materials company’s stock worth $53,242,000 after buying an additional 1,180,973 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of Pretium Resources in the 3rd quarter worth about $4,768,000. Finally, Commonwealth Bank of Australia boosted its holdings in shares of Pretium Resources by 13.5% in 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 buying an additional 319,200 shares during the last quarter. 49.25% of the stock is currently owned by 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.
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