H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Pretium Resources (NYSE: PVG) today and set a price target of $15. The company’s shares closed yesterday at $9.09.
Ihle said:
“We maintain our Buy recommendation and our $15.00 per share PT. Our PT remains unchanged following an increase to our production expectations and an increase to our AISC estimate for 2018. Our valuation remains based on a DCF of operations at Brucejack utilizing an unchanged 7.0% discount rate.”
According to TipRanks.com, Ihle is a 4-star analyst with an average return of 6.4% and a 43.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pretium Resources with a $15 average price target.
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Based on Pretium Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.06 million. In comparison, last year the company had a GAAP net loss of $2.5 million.
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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.
