Pretium Resources (PVG) Receives Hold Rating from CIBC

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Pretium Resources (NYSE:PVG) (TSE:PVG)‘s stock had its “hold” rating reissued by investment analysts at CIBC in a note issued to investors on Thursday.

PVG has been the topic of several other research reports. ValuEngine downgraded Pretium Resources from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Zacks Investment Research downgraded Pretium Resources from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. HC Wainwright set a $15.00 price target on Pretium Resources and gave the company a “buy” rating in a report on Friday, November 9th. Finally, Canaccord Genuity restated a “buy” rating on shares of Pretium Resources in a research note on Sunday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.95.

Shares of PVG stock opened at $7.00 on Thursday. Pretium Resources has a 12 month low of $6.17 and a 12 month high of $11.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.30 and a current ratio of 0.33. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 70.00 and a beta of -0.31.

Pretium Resources (NYSE:PVG) (TSE:PVG) last announced its quarterly earnings results on Thursday, November 8th. The basic materials company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. Pretium Resources had a return on equity of 10.62% and a net margin of 6.85%. The company had revenue of $110.06 million for the quarter, compared to the consensus estimate of $109.70 million. On average, sell-side analysts anticipate that Pretium Resources will post 0.63 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in PVG. JPMorgan Chase & Co. acquired a new stake in shares of Pretium Resources in the third quarter worth $41,137,000. Letko Brosseau & Associates Inc. grew its stake in shares of Pretium Resources by 50.1% in the third quarter. Letko Brosseau & Associates Inc. now owns 12,917,800 shares of the basic materials company’s stock worth $98,138,000 after acquiring an additional 4,310,900 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Pretium Resources by 17.3% in the third quarter. Bank of Montreal Can now owns 8,232,651 shares of the basic materials company’s stock worth $62,650,000 after acquiring an additional 1,214,100 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Pretium Resources by 103.8% during the second quarter. Janus Henderson Group PLC now owns 1,084,633 shares of the basic materials company’s stock worth $7,973,000 after buying an additional 552,400 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Pretium Resources during the third quarter worth $3,460,000. Institutional investors and hedge funds own 54.95% of the company’s stock.

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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Analyst Recommendations for Pretium Resources (NYSE:PVG)

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