Pretium Resources (NYSE:PVG) Price Target Raised to $22.00 at HC Wainwright

Pretium Resources (NYSE:PVG) (TSE:PVG) had its price target hoisted by HC Wainwright from $16.50 to $22.00 in a report issued on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

Several other analysts have also recently commented on PVG. Royal Bank of Canada reiterated a buy rating on shares of Pretium Resources in a report on Wednesday, June 26th. B. Riley set a $23.00 target price on Pretium Resources and gave the company a buy rating in a report on Tuesday, June 25th. Zacks Investment Research upgraded Pretium Resources from a hold rating to a strong-buy rating and set a $14.00 target price on the stock in a report on Thursday, August 8th. ValuEngine upgraded Pretium Resources from a hold rating to a buy rating in a report on Saturday, June 1st. Finally, Canaccord Genuity reiterated an average rating and issued a $17.75 target price on shares of Pretium Resources in a report on Friday, July 19th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pretium Resources currently has an average rating of Buy and a consensus price target of $16.89.

NYSE:PVG opened at $12.61 on Monday. The stock’s 50-day moving average is $11.51 and its 200-day moving average is $9.17. Pretium Resources has a 1-year low of $6.53 and a 1-year high of $13.50. The stock has a market cap of $2.27 billion, a P/E ratio of 23.35 and a beta of -0.40. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54.

Pretium Resources (NYSE:PVG) (TSE:PVG) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Pretium Resources had a return on equity of 8.83% and a net margin of 6.48%. The business had revenue of $113.20 million for the quarter, compared to analysts’ expectations of $143.99 million. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts forecast that Pretium Resources will post 0.65 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. increased its position in shares of Pretium Resources by 15.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 561,254 shares of the basic materials company’s stock valued at $5,618,000 after purchasing an additional 75,995 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Pretium Resources by 10.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 362,375 shares of the basic materials company’s stock valued at $3,630,000 after purchasing an additional 34,202 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Pretium Resources during the 2nd quarter valued at $194,000. Cubist Systematic Strategies LLC increased its position in shares of Pretium Resources by 92.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 169,716 shares of the basic materials company’s stock valued at $1,698,000 after purchasing an additional 81,598 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Pretium Resources by 22.0% during the 2nd quarter. Morgan Stanley now owns 3,066,473 shares of the basic materials company’s stock valued at $30,696,000 after purchasing an additional 553,135 shares during the last quarter. Institutional investors and hedge funds own 50.27% of the company’s stock.

Pretium Resources Company Profile

Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. The company primarily explores for gold, silver, and copper deposits. Its principal project is the Brucejack project that consists of 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.

Further Reading: CD Ladder

Analyst Recommendations for Pretium Resources (NYSE:PVG)

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