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 $8.12.
Ihle noted:
“We maintain our Buy recommendation and our $15 price target. Our valuation remains based on a DCF of operations at Brucejack utilizing an unchanged 7.0% discount rate. We believe 2018 should be a good year for the firm and expect initiatives aiming to improve grades at the mine to continue to bear fruit over the remainder of the year.”
According to TipRanks.com, Ihle is a 2-star analyst with an average return of 0.2% and a 31.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Pretium Resources has an analyst consensus of Moderate Buy, with a price target consensus of $15.
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Pretium Resources’ market cap is currently $1.48B and has a P/E ratio of 101.5. The company has a Price to Book ratio of 1.72.
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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.
