Pretium Resources Inc. (PVG) Trading Down 3.7%
Pretium Resources Inc. (NYSE:PVG) fell 3.7% during mid-day trading on Wednesday . The stock traded as low as $11.25 and last traded at $11.36, with a volume of 883,167 shares trading hands. The stock had previously closed at $11.80.
A number of research firms recently weighed in on PVG. Zacks Investment Research downgraded Pretium Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 30th. Scotiabank reissued a “sector perform” rating and set a $10.00 target price on shares of Pretium Resources in a research report on Saturday, May 14th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Pretium Resources in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $13.00.
The firm has a 50 day moving average price of $11.59 and a 200-day moving average price of $7.95. The stock’s market cap is $2.07 billion.
Other large investors have modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Pretium Resources by 72.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,019,830 shares of the company’s stock valued at $5,110,000 after buying an additional 428,500 shares during the period. Schroder Investment Management Group boosted its stake 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 during the period. Finally, Morgan Stanley boosted its stake 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 during the period.
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.
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