Pretium Resources Inc (NYSE:PVG) (TSE:PVG) – Stock analysts at B. Riley decreased their FY2019 earnings per share (EPS) estimates for shares of Pretium Resources in a research note issued on Monday, November 4th. B. Riley analyst A. Graf now anticipates that the basic materials company will post earnings per share of $0.48 for the year, down from their prior forecast of $0.64. B. Riley currently has a “Buy” rating and a $23.40 price target on the stock. B. Riley also issued estimates for Pretium Resources’ FY2020 earnings at $1.09 EPS and FY2021 earnings at $1.32 EPS.
Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Pretium Resources had a return on equity of 9.57% and a net margin of 5.18%. The business had revenue of $132.74 million for the quarter, compared to the consensus estimate of $165.97 million.
Several other brokerages also recently issued reports on PVG. Royal Bank of Canada downgraded shares of Pretium Resources from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $20.00 to $16.00 in a report on Friday, November 1st. Zacks Investment Research downgraded shares of Pretium Resources from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity cut their price target on shares of Pretium Resources from $20.00 to $18.00 in a report on Saturday, November 2nd. CIBC reissued a “hold” rating on shares of Pretium Resources in a report on Wednesday, September 18th. Finally, BMO Capital Markets set a $24.00 price target on shares of Pretium Resources and gave the company a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Pretium Resources currently has a consensus rating of “Hold” and an average target price of $17.21.
Shares of PVG stock opened at $8.88 on Tuesday. Pretium Resources has a 12-month low of $6.65 and a 12-month high of $13.83. The company has a market capitalization of $1.64 billion, a P/E ratio of 16.44 and a beta of -0.62. The firm has a 50-day moving average price of $11.66 and a 200 day moving average price of $10.61. The company has a quick ratio of 0.23, a current ratio of 0.38 and a debt-to-equity ratio of 0.44.
Hedge funds have recently made changes to their positions in the stock. Investec Asset Management LTD increased its holdings in Pretium Resources by 70.4% during the second quarter. Investec Asset Management LTD now owns 1,874,535 shares of the basic materials company’s stock worth $18,778,000 after buying an additional 774,417 shares during the last quarter. Morgan Stanley lifted its position in Pretium Resources by 22.0% in the 2nd quarter. Morgan Stanley now owns 3,066,473 shares of the basic materials company’s stock worth $30,696,000 after buying an additional 553,135 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in Pretium Resources by 52.6% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 1,386,000 shares of the basic materials company’s stock worth $13,843,000 after buying an additional 478,000 shares during the last quarter. Gabelli Funds LLC lifted its position in Pretium Resources by 30.3% in the 3rd quarter. Gabelli Funds LLC now owns 1,686,775 shares of the basic materials company’s stock worth $19,415,000 after buying an additional 391,775 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Pretium Resources in the 3rd quarter worth approximately $3,459,000. 51.09% of the stock is owned by hedge funds and other institutional investors.
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.
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