Pretium Resources Sees Unusually Large Options Volume (PVG)

Pretium Resources (NYSE:PVG) (TSE:PVG) was the recipient of some unusual options trading activity on Thursday. Traders acquired 16,259 call options on the stock. This is an increase of 1,448% compared to the average daily volume of 1,050 call options.

Shares of NYSE:PVG traded up $0.04 during midday trading on Friday, hitting $6.75. 1,977,445 shares of the company’s stock were exchanged, compared to its average volume of 1,940,564. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.23 and a quick ratio of 0.17. The company has a market cap of $1,231.13, a PE ratio of 67.50 and a beta of 0.07. Pretium Resources has a 12 month low of $6.17 and a 12 month high of $12.44.

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Several large investors have recently bought and sold shares of PVG. CIBC Asset Management Inc increased its position in shares of Pretium Resources by 84.9% during the third quarter. CIBC Asset Management Inc now owns 108,454 shares of the basic materials company’s stock worth $1,001,000 after acquiring an additional 49,794 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of Pretium Resources during the third quarter worth about $17,636,000. Van ECK Associates Corp increased its position in shares of Pretium Resources by 74.0% during the third quarter. Van ECK Associates Corp now owns 18,706,377 shares of the basic materials company’s stock worth $173,222,000 after acquiring an additional 7,956,917 shares in the last quarter. Legal & General Group Plc increased its position in shares of Pretium Resources by 58.9% during the third quarter. Legal & General Group Plc now owns 36,690 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 13,600 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Pretium Resources during the third quarter worth about $104,000. 46.86% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Pretium Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. HC Wainwright reaffirmed a “buy” rating and issued a $16.50 price target on shares of Pretium Resources in a research note on Tuesday, December 26th. Credit Suisse Group downgraded shares of Pretium Resources from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Tuesday, January 23rd. CIBC downgraded shares of Pretium Resources from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, January 25th. Finally, ValuEngine downgraded shares of Pretium Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.60.

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Pretium Resources Company Profile

Pretium Resources Inc acquires, explores for, and develops precious metal resource properties in the Americas. It primarily explores for gold, silver, and copper deposits. The company owns 100% interests in the Brucejack project comprising 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia; and the Snowfield project consisting of 1 mineral claim covering an area of 1,217 hectares located in northwestern British Columbia.

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