Pretium Resources (PVG) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Pretium Resources (NYSE:PVG) (TSE:PVG) from a buy rating to a hold rating in a research note released on Tuesday.

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 research analysts have also issued reports about the stock. ValuEngine upgraded shares of Pretium Resources from a sell rating to a hold rating in a research note on Tuesday, July 10th. HC Wainwright set a $15.00 target price on shares of Pretium Resources and gave the company a buy rating in a research note on Friday, August 10th. Citigroup lowered their target price on shares of Pretium Resources from $13.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday, August 29th. Finally, Canaccord Genuity reiterated a buy rating on shares of Pretium Resources in a research note on Sunday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $12.55.

Shares of Pretium Resources stock traded up $0.16 during midday trading on Tuesday, reaching $7.44. 115,733 shares of the company’s stock traded hands, compared to its average volume of 1,798,139. The company has a market capitalization of $1.43 billion, a P/E ratio of 74.20 and a beta of 0.25. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.42. Pretium Resources has a 52 week low of $6.17 and a 52 week high of $11.90.

Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Pretium Resources had a net margin of 3.22% and a return on equity of 8.67%. The business had revenue of $146.48 million for the quarter, compared to the consensus estimate of $141.20 million. On average, equities research analysts predict that Pretium Resources will post 0.56 earnings per share for the current year.

A number of large investors have recently bought and sold shares of PVG. Private Advisor Group LLC acquired a new stake in Pretium Resources in the 2nd quarter worth $108,000. Boenning & Scattergood Inc. acquired a new stake in Pretium Resources in the 3rd quarter worth $119,000. Seven Eight Capital LP acquired a new stake in Pretium Resources in the 3rd quarter worth $130,000. LPL Financial LLC grew its position in Pretium Resources by 97.1% in the 1st quarter. LPL Financial LLC now owns 24,310 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 11,977 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Pretium Resources in the 2nd quarter worth $177,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

About Pretium Resources

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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