Shares of Pretium Resources Inc. (NYSE:PVG) dropped 4.2% during trading on Tuesday . The stock traded as low as $10.52 and last traded at $10.84, with a volume of 1,253,022 shares changing hands. The stock had previously closed at $11.31.

PVG has been the subject of several analyst reports. Zacks Investment Research upgraded Pretium Resources from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, July 13th. Scotiabank reiterated a “sector perform” rating and set a $12.00 price objective on shares of Pretium Resources in a report on Friday, July 1st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Pretium Resources in a report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $13.00.

The stock has a 50-day moving average price of $11.59 and a 200 day moving average price of $8.10. The stock’s market capitalization is $1.90 billion.

A hedge fund recently raised its stake in Pretium Resources stock. Morgan Stanley increased its stake in shares of Pretium Resources Inc. (NYSE:PVG) by 117.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,434 shares of the company’s stock after buying an additional 121,870 shares during the period. Morgan Stanley owned 0.16% of Pretium Resources worth $1,136,000 at the end of the most recent 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 projects include Brucejack Project and the Snowfield Project, both of which are located in northwestern British Columbia.

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