Pretium Resources (PVG) Receives a Buy from Canaccord Genuity


Pretium Resources (PVG), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Carey MacRury from Canaccord Genuity remains bullish on the stock and has a C$17.75 price target.

According to TipRanks.com, MacRury is a top 100 analyst with an average return of 18.0% and a 80.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Osisko Gold Royalties Ltd, and Barrick Gold Corporation.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pretium Resources with a C$15.75 average price target, implying a 6.3% upside from current levels. In a report issued on July 11, H.C. Wainwright also reiterated a Buy rating on the stock.

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Pretium Resources’ market cap is currently C$2.75B and has a P/E ratio of 42.3. The company has a Price to Book ratio of 2.27.

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.

The company’s shares closed on Friday at C$14.82, close to its 52-week high of C$15.

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