B. Riley Brokers Lower Earnings Estimates for Pretium Resources Inc (NYSE:PVG)

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) – Equities researchers at B. Riley decreased their FY2019 earnings estimates for shares of Pretium Resources in a research report issued to clients and investors on Monday, June 24th, Zacks Investment Research reports. B. Riley analyst A. Graf now anticipates that the basic materials company will earn $0.45 per share for the year, down from their previous forecast of $0.62. B. Riley has a “Buy” rating and a $23.00 price target on the stock.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $103.10 million during the quarter, compared to analysts’ expectations of $129.47 million. Pretium Resources had a return on equity of 12.29% and a net margin of 10.43%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis.

A number of other equities analysts have also weighed in on PVG. BMO Capital Markets reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. ValuEngine lowered Zuora from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. HC Wainwright set a $4.00 price objective on BioTime and gave the stock a “buy” rating in a research note on Thursday, July 11th. Royal Bank of Canada reissued an “underperform” rating and set a GBX 215 ($2.81) price target on shares of in a research note on Wednesday, June 26th. Finally, CIBC reissued a “hold” rating and set a $12.00 price target on shares of Pretium Resources in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.92.

Pretium Resources stock traded up $0.26 during mid-day trading on Wednesday, reaching $11.47. 3,262,585 shares of the stock traded hands, compared to its average volume of 1,924,843. The firm has a market capitalization of $2.09 billion, a PE ratio of 21.24 and a beta of -0.34. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Pretium Resources has a 12-month low of $6.53 and a 12-month high of $11.50. The firm’s 50-day simple moving average is $9.74.

A number of institutional investors have recently made changes to their positions in PVG. Advisor Group Inc. raised its position in Pretium Resources by 41.1% during the fourth quarter. Advisor Group Inc. now owns 6,665 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 1,940 shares during the period. Clean Yield Group purchased a new stake in Pretium Resources during the first quarter valued at approximately $137,000. Campbell & CO Investment Adviser LLC purchased a new stake in Pretium Resources during the fourth quarter valued at approximately $153,000. Virtu Financial LLC purchased a new stake in Pretium Resources during the first quarter valued at approximately $179,000. Finally, Fox Run Management L.L.C. purchased a new stake in Pretium Resources during the second quarter valued at approximately $179,000. 50.97% of the stock is owned by institutional investors.

Pretium Resources Company Profile

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

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Earnings History and Estimates for Pretium Resources (NYSE:PVG)

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