Pretium Resources (PVG) Reaches New 12-Month Low at $8.94

Pretium Resources (TSE:PVG) (NYSE:PVG) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as C$8.94 and last traded at C$8.99, with a volume of 213316 shares. The stock had previously closed at C$9.01.

Several brokerages have commented on PVG. Royal Bank of Canada cut their target price on Pretium Resources from C$18.00 to C$14.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. CIBC downgraded Pretium Resources from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$18.00 to C$14.50 in a research note on Thursday, January 25th. Finally, Scotiabank downgraded Pretium Resources from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$19.00 to C$17.75 in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of C$17.10.

Pretium Resources (TSE:PVG) (NYSE:PVG) last issued its earnings results on Thursday, March 8th. The company reported C$0.09 EPS for the quarter, topping the consensus estimate of C$0.01 by C$0.08. Pretium Resources had a negative return on equity of 3.31% and a negative net margin of 9.84%. The business had revenue of C$135.97 million during the quarter, compared to the consensus estimate of C$111.78 million.

In other Pretium Resources news, Director David Smith purchased 11,225 shares of the stock in a transaction on Monday, May 14th. The shares were purchased at an average price of C$9.19 per share, with a total value of C$103,157.75. Also, Director George Nickolas Paspalas sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of C$9.00, for a total value of C$225,000.00.

Pretium Resources Company Profile

Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. It primarily explores for gold, silver, and copper deposits. The company's principal project is the Brucejack project comprising 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.

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