In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Pretium Resources (PVG), with a price target of $15. The company’s shares closed yesterday at $7.28.
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. We expect strong operational and financial results for the firm in 4Q18 after impressive results through 3Q18.”
According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -10.9% and a 22.8% 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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Based on Pretium Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $31.1 million. In comparison, last year the company had a GAAP net loss of $6.98 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.
