Intact Investment Management Inc. acquired a new position in Pretium Resources Inc (NYSE:PVG) (TSE:PVG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 165,800 shares of the basic materials company’s stock, valued at approximately $1,620,000. Intact Investment Management Inc. owned 0.09% of Pretium Resources at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PVG. Private Advisor Group LLC acquired a new stake in shares of Pretium Resources in the second quarter worth $108,000. Boenning & Scattergood Inc. acquired a new stake in shares of Pretium Resources in the third quarter worth $119,000. Seven Eight Capital LP acquired a new stake in shares of Pretium Resources in the third quarter worth $130,000. LPL Financial LLC increased its stake in shares of Pretium Resources by 97.1% in the first quarter. LPL Financial LLC now owns 24,310 shares of the basic materials company’s stock worth $162,000 after acquiring an additional 11,977 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Pretium Resources in the second quarter worth $177,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.
A number of analysts have recently weighed in on PVG shares. ValuEngine upgraded shares of Pretium Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised shares of Pretium Resources from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Tuesday, July 17th. HC Wainwright set a $15.00 price target on shares of Pretium Resources and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, Citigroup lowered their price target on shares of Pretium Resources from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Pretium Resources currently has an average rating of “Buy” and an average target price of $12.60.
Pretium Resources (NYSE:PVG) (TSE:PVG) last announced its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. Pretium Resources had a net margin of 3.22% and a return on equity of 8.67%. The firm had revenue of $146.48 million for the quarter, compared to the consensus estimate of $141.20 million. On average, research analysts anticipate that Pretium Resources Inc will post 0.56 EPS for the current year.
Pretium Resources Company Profile
Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. It primarily explores for gold, silver, and copper deposits. The company's principal project is the Brucejack project comprising 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.
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