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H.C. Wainwright Keeps a Buy Rating on Pretium Resources (PVG)


H.C. Wainwright analyst Heiko Ihle maintained a Buy rating on Pretium Resources (NYSE: PVG) today and set a price target of $15. The company’s shares closed yesterday at $7.26.

Ihle wrote:

“We maintain our Buy recommendation and our $15.00 per share price target. Our valuation remains based on a DCF of operations at Brucejack utilizing an unchanged 7.0% discount rate.”

According to TipRanks.com, Ihle ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.7% and a 30.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

Currently, the analyst consensus on Pretium Resources is a Moderate Buy with an average price target of $15, implying a 106.6% upside from current levels. In a report issued on October 4, Canaccord Genuity also reiterated a Buy rating on the stock.

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The company has a one-year high of $12.44 and a one-year low of $6.17. Currently, Pretium Resources has an average volume of 2.46M.

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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.