Pretium Resources (PVG) Receives a Buy from H.C. Wainwright


In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Pretium Resources (PVG), with a price target of $16.50. The company’s shares closed on Friday at $7.25.

Ihle commented:

“We reiterate our Buy recommendation but increase our per share PT from $16.00 to $16.50. We note our higher price target was due to our revised commodity price deck as well as updated production expectations and financials. Our valuation remains predicated on a DCF of operations at Brucejack, utilizing a 7.0% discount rate. While we have also slightly lowered our grade assumptions, we reiterate our belief that the company owns a valuable and high-grade asset in a geopolitically safe jurisdiction.”

According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -6.6% and a 34.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.

Pretium Resources has an analyst consensus of Strong Buy, with a price target consensus of $16.50.

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The company has a one-year high of $9.84 and a one-year low of $6.17. Currently, Pretium Resources has an average volume of 2.07M.

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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.

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