Penbrook Management LLC Invests $600,000 in Pretium Resources (PVG) Stock

Penbrook Management LLC acquired a new stake in Pretium Resources (NYSE:PVG) (TSE:PVG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 52,600 shares of the basic materials company’s stock, valued at approximately $600,000.

A number of other hedge funds have also added to or reduced their stakes in PVG. Van ECK Associates Corp raised its holdings in Pretium Resources by 74.0% in the 3rd quarter. Van ECK Associates Corp now owns 18,706,377 shares of the basic materials company’s stock valued at $173,222,000 after acquiring an additional 7,956,917 shares during the last quarter. Legal & General Group Plc raised its holdings in Pretium Resources by 58.9% in the 3rd quarter. Legal & General Group Plc now owns 36,690 shares of the basic materials company’s stock valued at $339,000 after acquiring an additional 13,600 shares during the last quarter. Trexquant Investment LP acquired a new stake in Pretium Resources in the 3rd quarter valued at about $104,000. Schroder Investment Management Group increased its holdings in shares of Pretium Resources by 29.9% during the 3rd quarter. Schroder Investment Management Group now owns 774,132 shares of the basic materials company’s stock worth $7,781,000 after buying an additional 178,221 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Pretium Resources by 4,213.8% during the 3rd quarter. Wells Fargo & Company MN now owns 59,142 shares of the basic materials company’s stock worth $548,000 after buying an additional 57,771 shares during the last quarter. Institutional investors own 46.86% of the company’s stock.

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A number of brokerages have recently issued reports on PVG. Zacks Investment Research downgraded shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. HC Wainwright restated a “buy” rating and set a $16.50 price target on shares of Pretium Resources in a report on Tuesday, December 26th. Credit Suisse Group downgraded shares of Pretium Resources from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Tuesday, January 23rd. CIBC downgraded shares of Pretium Resources from a “sector outperform” rating to a “neutral” rating in a report on Thursday, January 25th. Finally, ValuEngine downgraded shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Pretium Resources presently has a consensus rating of “Hold” and a consensus target price of $13.60.

Shares of Pretium Resources (NYSE:PVG) opened at $7.05 on Friday. The stock has a market cap of $1,313.21, a P/E ratio of 80.00 and a beta of 0.10. The company has a current ratio of 0.23, a quick ratio of 0.17 and a debt-to-equity ratio of 0.44. Pretium Resources has a 1-year low of $6.17 and a 1-year high of $12.44.

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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 owns 100% interests in the Brucejack project comprising 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia; and the Snowfield project consisting of 1 mineral claim covering an area of 1,217 hectares located in northwestern British Columbia.

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Institutional Ownership by Quarter for Pretium Resources (NYSE:PVG)

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