Pretium Resources, Inc. (NYSE:PVG) Receives $15.50 Consensus Price Target from Brokerages

Pretium Resources, Inc. (NYSE:PVG) (TSE:PVG) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.50.

A number of analysts have recently weighed in on PVG shares. Citigroup Inc. restated a “buy” rating and issued a $13.00 price target on shares of Pretium Resources in a report on Tuesday, June 6th. BidaskClub upgraded shares of Pretium Resources from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research cut shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, ValuEngine cut shares of Pretium Resources from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th.

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Hedge funds have recently added to or reduced their stakes in the company. World Asset Management Inc bought a new stake in Pretium Resources during the second quarter worth approximately $102,000. Virtu Financial LLC bought a new stake in Pretium Resources during the second quarter worth approximately $129,000. Goldman Sachs Group Inc. boosted its stake in Pretium Resources by 73.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,486,432 shares of the basic materials company’s stock worth $15,920,000 after buying an additional 630,946 shares during the period. HighTower Advisors LLC bought a new stake in Pretium Resources during the first quarter worth approximately $294,000. Finally, Credit Suisse AG boosted its stake in Pretium Resources by 5.6% in the first quarter. Credit Suisse AG now owns 261,476 shares of the basic materials company’s stock worth $2,800,000 after buying an additional 13,901 shares during the period. Institutional investors own 47.89% of the company’s stock.

Pretium Resources (PVG) traded up 0.62% during midday trading on Monday, reaching $9.67. 1,207,607 shares of the company traded hands. The stock’s market capitalization is $1.75 billion. The company has a 50 day moving average price of $9.52 and a 200-day moving average price of $10.06. Pretium Resources has a one year low of $6.82 and a one year high of $12.53.

Pretium Resources Company Profile

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.

Analyst Recommendations for Pretium Resources (NYSE:PVG)

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