Pretium Resources Inc (PVG) Shares Down 4.6% on Insider Selling

Pretium Resources Inc (TSE:PVG) (NYSE:PVG)’s share price fell 4.6% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as C$14.29 and last traded at C$14.29. 693,423 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 599,905 shares. The stock had previously closed at C$14.98.

Specifically, Director Robert Allan Quartermain sold 29,700 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of C$14.90, for a total value of C$442,530.00. Also, Director George Nickolas Paspalas sold 50,000 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of C$15.33, for a total transaction of C$766,500.00.

Several brokerages have commented on PVG. CIBC boosted their price target on shares of Pretium Resources from C$15.75 to C$18.00 and gave the stock an “outperform” rating in a research report on Friday, October 13th. Scotiabank upgraded shares of Pretium Resources from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$16.50 to C$17.00 in a research report on Thursday, October 12th. Numis Securities Ltd reiterated a “buy” rating and issued a C$22.00 price target on shares of Pretium Resources in a research report on Thursday, October 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a C$19.50 price target on shares of Pretium Resources in a research report on Wednesday, July 5th. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of C$18.00.

The company’s market cap is $2.57 billion. The stock has a 50 day moving average of $11.35 and a 200-day moving average of $12.18.

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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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