Zacks Investment Research upgraded shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a hold rating to a buy rating in a research note published on Thursday, Zacks.com reports. The brokerage currently has $13.00 price objective on the basic materials company’s stock.

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. “

Several other equities analysts have also weighed in on PVG. Royal Bank of Canada reissued a buy rating on shares of Pretium Resources in a report on Monday, August 26th. ValuEngine upgraded Pretium Resources from a hold rating to a buy rating in a research report on Saturday, June 1st. BMO Capital Markets set a $24.00 target price on Pretium Resources and gave the stock a buy rating in a research report on Friday, September 6th. B. Riley increased their target price on Pretium Resources from $22.60 to $25.40 and gave the stock a buy rating in a research report on Monday, September 9th. Finally, HC Wainwright increased their target price on Pretium Resources from $16.50 to $22.00 and gave the stock a buy rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Pretium Resources currently has a consensus rating of Buy and a consensus target price of $18.16.

Shares of NYSE PVG opened at $11.17 on Thursday. The stock has a fifty day simple moving average of $12.47 and a two-hundred day simple moving average of $9.75. Pretium Resources has a 1-year low of $6.65 and a 1-year high of $13.83. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 20.69 and a beta of -0.50. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54.

Pretium Resources (NYSE:PVG) (TSE:PVG) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Pretium Resources had a return on equity of 8.83% and a net margin of 6.48%. The business had revenue of $113.20 million during the quarter, compared to analyst estimates of $143.99 million. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts forecast that Pretium Resources will post 0.7 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Advisor Group Inc. grew its stake in shares of Pretium Resources by 12.8% during the second quarter. Advisor Group Inc. now owns 13,995 shares of the basic materials company’s stock valued at $141,000 after buying an additional 1,583 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Pretium Resources by 2.2% in the second quarter. CIBC Asset Management Inc now owns 159,573 shares of the basic materials company’s stock worth $1,595,000 after purchasing an additional 3,385 shares during the last quarter. Clean Yield Group grew its stake in shares of Pretium Resources by 22.5% in the second quarter. Clean Yield Group now owns 19,600 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 3,600 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of Pretium Resources by 8.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 67,000 shares of the basic materials company’s stock worth $572,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pretium Resources by 84.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,241 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 6,512 shares during the last quarter. 51.48% of the stock is currently owned by hedge funds and other institutional investors.

Pretium Resources Company Profile

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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