H.C. Wainwright Sticks to Their Buy Rating for Pretium Resources (PVG)

In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Pretium Resources (PVG), with a price target of $16. The company’s shares opened today at $8.20.

Ihle wrote:

“We reiterate our Buy recommendation on Pretium and increase our price target from $15.00 to $16.00 per share. While we have raised our production profile for the site, some of these improvements have been offset by a lowered long-term gold price utilized in our model as discussed above.”

According to TipRanks.com, Ihle ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -18.2% and a 16.5% 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 $16.

See today’s analyst top recommended stocks >>

Pretium Resources’ market cap is currently $1.5B and has a P/E ratio of 45.91. The company has a Price to Book ratio of 1.68.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.