Pretium Resources Inc. (NYSE:PVG) has been downgraded by CIBC on January 25 which now rates the stock as Neutral compared with Sector Outperform rating suggested in the past. Analysts at H.C. Wainwright, maintained the company shares at Buy on January 24 but switched target price from $16.50 to $15. The stock lost favor of Credit Suisse analysts who expressed their lack of confidence in it using a downgrade from Outperform to Neutral on January 23.
Pretium Resources Inc. (PVG) hit an intraday high Friday at $7.465. The shares finished at $7, after trading as low as $6.98 earlier in the session. It dropped -4.11% in recent trade and currently has a stock-market value of $1.28B. Trading activity significantly improved as the volume at ready counter increased to 5,828,266 shares versus 2,754,365 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,341,800 shares. The stock is now 13.45% above against its bear-market low of $6.17 on March 01, 2018. It has retreated -66.86% since it’s 52-week high of $11.68 reached in January. Now the market price is down -34.52% on the year and down -17.16% YTD.
PVG’s 50 day simple moving average (SMA 50) price is $7.78 and its 200-day simple moving average (SMA 200) price is $7.72. The company’s stock currently has a total float of 170.99M shares. Its weekly volatility is hovering around 8.01% and felt 5.53% volatility in price over a month. On the upside, the share price will test short term resistance at around $7.32. On a downside, the stock is likely to find some support, which begins at $6.83. The failure to get near-term support could push it to $6.66.
Wall Street’s most bullish Pretium Resources Inc. (NYSE:PVG) analysts are predicting the share price to blow past $27.81 per share during the next 12 months. The current median share price forecast by them is $16.5, suggesting that the stock could increase 135.71% in that time frame. The average price target of $17.52 calls for a nearly 150.29% increase in the stock price.
When looking at valuations, Pretium Resources Inc. (PVG) has a pricey P/E of 41.18x as compared to industry average of 11.32x. Moreover, it trades for 14 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.43x price/book and 2.83x price/sales.
Shares of Pretium Resources Inc. (PVG) have dropped -3.8% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Pretium Resources Inc. (NYSE:PVG) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 5 quarters (41%), whereas at 1 occasion EPS met analyst expectations. PVG last reported earnings on November 08, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.14 per share, -99.61% change on the same period last year. That was better than consensus for $0.1. Revenue for the recent quarter stood at $110.06 million, up 57% on last year and below the $112.35 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $144.7 million to $144.7 million, which should be compared with $0 generated last year. EPS is seen in a range of $0.2 to $0.38, against the $0.26 reported a year ago.