Pretium Resources Receives a Buy from H.C. Wainwright

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 $7.50.

Ihle wrote:

“We highlight that hole VU-911 returned high-grade gold in several intercepts, including 157 g/t gold over 0.50 meters, 142 g/t gold over 1.50 meters, and 76.3 g/t gold over 0.50 meters. This was in addition to 1.71 g/t gold over 90.2 meters in hole VU-820, including 58.7 g/t gold over 1.00 meter. We expect the firm to design a follow up drilling program to build upon these positive results and target resource growth in the area.”

According to TipRanks.com, Ihle is a 4-star analyst with an average return of 6.8% and a 44.3% 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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The company has a one-year high of $12.44 and a one-year low of $6.17. Currently, Pretium Resources has an average volume of 1.65M.

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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.