Pretium Resources Target of Unusually High Options Trading (NYSE:PVG)

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) was the target of unusually large options trading on Thursday. Investors acquired 4,489 put options on the stock. This is an increase of 1,396% compared to the typical volume of 300 put options.

Shares of PVG opened at $11.80 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 0.63. Pretium Resources has a one year low of $6.65 and a one year high of $13.83. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 28.35 and a beta of -0.63. The stock has a 50 day moving average price of $12.37 and a 200 day moving average price of $10.24.

Pretium Resources (NYSE:PVG) (TSE:PVG) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Pretium Resources had a return on equity of 8.83% and a net margin of 6.48%. The firm had revenue of $113.20 million during the quarter, compared to analysts’ expectations of $143.99 million. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, analysts predict that Pretium Resources will post 0.73 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC purchased a new stake in shares of Pretium Resources during the second quarter worth approximately $110,000. IHT Wealth Management LLC purchased a new stake in shares of Pretium Resources during the second quarter worth approximately $119,000. Advisor Group Inc. increased its position in shares of Pretium Resources by 12.8% during the second quarter. Advisor Group Inc. now owns 13,995 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 1,583 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Pretium Resources by 84.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,241 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 6,512 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Pretium Resources during the second quarter worth approximately $179,000. Hedge funds and other institutional investors own 51.10% of the company’s stock.

Several research analysts have recently weighed in on PVG shares. CIBC reaffirmed a “hold” rating on shares of Pretium Resources in a research note on Wednesday, September 18th. ValuEngine downgraded Pretium Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. HC Wainwright upped their target price on Pretium Resources from $16.50 to $22.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Canaccord Genuity reaffirmed an “average” rating and set a $17.75 target price on shares of Pretium Resources in a research note on Friday, July 19th. Finally, Scotiabank set a $15.00 target price on Pretium Resources and gave the stock a “hold” rating in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.77.

Pretium Resources Company Profile

Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. The company primarily explores for gold, silver, and copper deposits. Its principal project is the Brucejack project that consists of 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.

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