H.C. Wainwright Believes Pretium Resources (PVG) Still Has Room to Grow


In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Pretium Resources (PVG), with a price target of $17.50. The company’s shares closed last Friday at $12.40, close to its 52-week high of $13.83.

According to TipRanks.com, Ihle is a top 25 analyst with an average return of 34.9% and a 66.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pretium Resources with a $16.52 average price target, implying a 34.9% upside from current levels. In a report issued on July 28, Canaccord Genuity also maintained a Buy rating on the stock with a C$17.50 price target.

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Based on Pretium Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $127 million and net profit of $6.24 million. In comparison, last year the company earned revenue of $103 million and had a net profit of $4.17 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PVG in relation to earlier this year.

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Pretium Resources, Inc. engages in the acquisition, exploration, development and operation 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 in 2010 and is headquartered in Vancouver, Canada.

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