Pretium Resources Inc. (NYSE:PVG) shares dropped 5% during trading on Friday . The stock traded as low as $11.31 and last traded at $11.47, with a volume of 1,469,823 shares. The stock had previously closed at $12.07.

PVG has been the subject of several research analyst reports. Scotiabank reissued a “sector perform” rating and set a $12.00 target price on shares of Pretium Resources in a research note on Friday, July 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Pretium Resources in a research note on Wednesday, June 29th. Finally, Zacks Investment Research raised Pretium Resources from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $13.00.

The company’s 50 day moving average is $9.85 and its 200 day moving average is $6.82. The company’s market cap is $2.04 billion.

Other hedge funds and institutional investors recently modified their holdings of the company. Morgan Stanley increased its position in shares of Pretium Resources by 117.7% in the fourth quarter. Morgan Stanley now owns 225,434 shares of the company’s stock valued at $1,136,000 after buying an additional 121,870 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Pretium Resources by 176.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 188,200 shares of the company’s stock valued at $1,310,000 after buying an additional 120,200 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Pretium Resources by 25.0% in the fourth quarter. TD Asset Management Inc. now owns 793,463 shares of the company’s stock valued at $3,976,000 after buying an additional 158,916 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Pretium Resources by 15.1% in the fourth quarter. Schroder Investment Management Group now owns 888,400 shares of the company’s stock valued at $4,478,000 after buying an additional 116,479 shares in the last quarter.

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 wholly owned projects include Brucejack Project and the Snowfield Project. The Company’s only material mineral project for the purposes of NI 43-101 is the Brucejack Project.

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