CIBC World Markets Inc. increased its position in shares of Pretium Resources Inc (NYSE:PVG) (TSE:PVG) by 647.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,541 shares of the basic materials company’s stock after buying an additional 85,363 shares during the period. CIBC World Markets Inc.’s holdings in Pretium Resources were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Letko Brosseau & Associates Inc. increased its holdings in Pretium Resources by 80.1% during the second quarter. Letko Brosseau & Associates Inc. now owns 8,606,900 shares of the basic materials company’s stock worth $63,270,000 after buying an additional 3,827,450 shares during the last quarter. Franklin Resources Inc. increased its holdings in Pretium Resources by 40.2% during the first quarter. Franklin Resources Inc. now owns 3,950,200 shares of the basic materials company’s stock worth $26,217,000 after buying an additional 1,132,000 shares during the last quarter. Heartland Advisors Inc. increased its holdings in Pretium Resources by 78.1% during the second quarter. Heartland Advisors Inc. now owns 1,782,300 shares of the basic materials company’s stock worth $13,082,000 after buying an additional 781,300 shares during the last quarter. Sound Point Capital Management LP acquired a new position in Pretium Resources during the first quarter worth $8,494,000. Finally, Alps Advisors Inc. increased its holdings in Pretium Resources by 1.0% during the first quarter. Alps Advisors Inc. now owns 1,124,967 shares of the basic materials company’s stock worth $7,492,000 after buying an additional 10,718 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.
Several research firms have commented on PVG. ValuEngine upgraded shares of Pretium Resources from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Citigroup decreased their price objective on shares of Pretium Resources from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. Zacks Investment Research downgraded shares of Pretium Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 16th. Finally, HC Wainwright set a $15.00 price objective on shares of Pretium Resources and gave the company a “buy” rating in a report on Friday, August 10th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Pretium Resources presently has an average rating of “Buy” and a consensus target price of $12.70.
NYSE:PVG opened at $8.83 on Thursday. Pretium Resources Inc has a one year low of $6.17 and a one year high of $12.44. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 22.24 and a beta of -0.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.36 and a current ratio of 0.40.
Pretium Resources (NYSE:PVG) (TSE:PVG) last released its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Pretium Resources had a net margin of 3.22% and a return on equity of 8.67%. The firm had revenue of $146.48 million for the quarter, compared to the consensus estimate of $141.20 million. analysts predict that Pretium Resources Inc will post 0.6 earnings per share for the current fiscal year.
Pretium Resources Company Profile
Pretium Resources, Inc engages in the acquisition, exploration, and development of gold and precious metals resource properties. Its projects include Snowfield and Brucejack which are located in British Columbia. The company was founded by Robert Allan Quartermain on October 22, 2010 and is headquartered in Vancouver, Canada.
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