Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) has been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $15.50.
PVG has been the topic of a number of research reports. ValuEngine downgraded Pretium Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. BidaskClub upgraded Pretium Resources from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research downgraded Pretium Resources from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Credit Suisse Group set a $13.00 target price on Pretium Resources and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.50 target price on shares of Pretium Resources in a research note on Thursday, August 17th.
Institutional investors have recently bought and sold shares of the stock. Morgan Stanley boosted its stake in shares of Pretium Resources by 23.9% in the first quarter. Morgan Stanley now owns 131,772 shares of the basic materials company’s stock valued at $1,411,000 after buying an additional 25,401 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Pretium Resources by 13.5% in the second quarter. Commonwealth Bank of Australia now owns 2,691,900 shares of the basic materials company’s stock valued at $25,826,000 after buying an additional 319,200 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Pretium Resources in the second quarter valued at approximately $413,000. HM Payson & Co. purchased a new stake in shares of Pretium Resources in the second quarter valued at approximately $106,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Pretium Resources in the first quarter valued at approximately $294,000. Hedge funds and other institutional investors own 43.25% of the company’s stock.
Shares of Pretium Resources (PVG) traded up 25.10% during midday trading on Wednesday, reaching $12.11. The company had a trading volume of 10,181,173 shares. Pretium Resources has a 52-week low of $6.82 and a 52-week high of $12.53. The company’s 50 day moving average price is $8.81 and its 200 day moving average price is $9.37. The stock’s market capitalization is $2.20 billion.
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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.
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