Zacks Investment Research Downgrades Pretium Resources, Inc. (PVG) to Sell

Zacks Investment Research downgraded shares of Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) from a hold rating to a sell rating in a report published on Saturday, July 8th.

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 analysts also recently issued reports on the stock. Citigroup Inc. reaffirmed a buy rating and issued a $13.00 price objective on shares of Pretium Resources in a research report on Tuesday, June 6th. Credit Suisse Group assumed coverage on shares of Pretium Resources in a research report on Monday, March 20th. They set an outperform rating and a $13.50 price target for the company. ValuEngine downgraded shares of Pretium Resources from a hold rating to a sell rating in a research report on Tuesday, June 20th. BidaskClub raised shares of Pretium Resources from a hold rating to a buy rating in a research report on Friday, June 30th. Finally, Roth Capital set a $16.00 price target on shares of Pretium Resources and gave the stock a buy rating in a research report on Saturday, March 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Pretium Resources currently has an average rating of Hold and a consensus target price of $14.75.

Pretium Resources (NYSE:PVG) opened at 9.62 on Friday. The firm’s market cap is $1.74 billion. Pretium Resources has a 12-month low of $6.82 and a 12-month high of $12.53. The firm’s 50-day moving average is $9.22 and its 200 day moving average is $9.84.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Downgrades Pretium Resources, Inc. (PVG) to Sell” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://sportsperspectives.com/2017/07/18/pretium-resources-inc-pvg-downgraded-by-zacks-investment-research-to-sell-updated.html.

Several large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in shares of 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 worth $43,196,000 after buying an additional 3,649,305 shares in the last quarter. 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 in the last quarter. Norges Bank bought a new stake in shares of Pretium Resources during the fourth quarter worth $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 in the last quarter. Finally, OppenheimerFunds Inc. bought a new stake in shares of Pretium Resources during the first quarter worth $6,005,000. Institutional investors and hedge funds own 48.22% of the company’s stock.

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.

Get a free copy of the Zacks research report on Pretium Resources (PVG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pretium Resources (NYSE:PVG)

Receive News & Ratings for Pretium Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pretium Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply