Brokerages Anticipate Pretium Resources Inc (NYSE:PVG) Will Post Earnings of $0.23 Per Share

Wall Street brokerages forecast that Pretium Resources Inc (NYSE:PVG) (TSE:PVG) will announce earnings per share (EPS) of $0.23 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Pretium Resources’ earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.24. Pretium Resources reported earnings of $0.14 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 64.3%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 30th.

On average, analysts expect that Pretium Resources will report full-year earnings of $0.73 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post earnings of $0.97 per share, with EPS estimates ranging from $0.66 to $1.28. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Pretium Resources.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.09 earnings per share for the quarter, beating the 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 company had revenue of $113.20 million during the quarter, compared to analysts’ expectations of $143.99 million. Pretium Resources’s quarterly revenue was up 9.9% compared to the same quarter last year.

Several research analysts recently commented on PVG shares. Zacks Investment Research raised Pretium Resources from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Thursday, September 12th. Citigroup lifted their price objective on Pretium Resources from $10.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Scotiabank set a $15.00 price objective on Pretium Resources and gave the company a “hold” rating in a report on Wednesday, September 18th. ValuEngine cut Pretium Resources from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Canaccord Genuity reissued an “average” rating and set a $17.75 price objective on shares of Pretium Resources in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Pretium Resources has a consensus rating of “Buy” and an average target price of $17.77.

Large investors have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Pretium Resources in the second quarter valued at $110,000. Swiss National Bank increased its stake in shares of Pretium Resources by 8.3% in the second quarter. Swiss National Bank now owns 327,848 shares of the basic materials company’s stock valued at $3,277,000 after buying an additional 25,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pretium Resources by 4.4% in the second quarter. Vanguard Group Inc. now owns 4,626,044 shares of the basic materials company’s stock valued at $46,307,000 after buying an additional 195,522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pretium Resources by 84.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,241 shares of the basic materials company’s stock valued at $143,000 after buying an additional 6,512 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Pretium Resources in the second quarter valued at $179,000. Institutional investors own 50.90% of the company’s stock.

PVG stock traded up $0.21 during midday trading on Wednesday, hitting $11.78. The stock had a trading volume of 57,976 shares, compared to its average volume of 1,816,829. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.83 and a beta of -0.63. Pretium Resources has a 52 week low of $6.65 and a 52 week high of $13.83. The stock has a 50-day simple moving average of $12.25 and a 200 day simple moving average of $10.30. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.54.

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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Earnings History and Estimates for Pretium Resources (NYSE:PVG)

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