Stock Traders Buy High Volume of Put Options on Pretium Resources (NYSE:PVG)

Pretium Resources Inc (NYSE:PVG) (TSE:PVG) was the recipient of unusually large options trading on Thursday. Investors purchased 26,484 put options on the stock. This represents an increase of 670% compared to the average volume of 3,439 put options.

PVG traded down $0.27 during trading hours on Friday, hitting $8.15. 2,104,754 shares of the stock were exchanged, compared to its average volume of 2,253,157. Pretium Resources has a 12 month low of $6.17 and a 12 month high of $12.44. The stock has a market capitalization of $1.40 billion, a PE ratio of 81.50 and a beta of -0.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.36.

Pretium Resources (NYSE:PVG) (TSE:PVG) last posted its earnings results on Thursday, August 9th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $146.48 million for the quarter, compared to analysts’ expectations of $141.20 million. Pretium Resources had a return on equity of 8.67% and a net margin of 3.22%. As a group, research analysts anticipate that Pretium Resources will post 0.6 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp lifted its stake in Pretium Resources by 14.8% in the second quarter. Van ECK Associates Corp now owns 22,825,820 shares of the basic materials company’s stock valued at $167,542,000 after buying an additional 2,937,669 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its stake in Pretium Resources by 80.1% in the second quarter. Letko Brosseau & Associates Inc. now owns 8,606,900 shares of the basic materials company’s stock valued at $63,270,000 after buying an additional 3,827,450 shares during the last quarter. Franklin Resources Inc. lifted its stake in Pretium Resources by 40.2% in the first quarter. Franklin Resources Inc. now owns 3,950,200 shares of the basic materials company’s stock valued at $26,217,000 after buying an additional 1,132,000 shares during the last quarter. Heartland Advisors Inc. lifted its stake in Pretium Resources by 78.1% in the second quarter. Heartland Advisors Inc. now owns 1,782,300 shares of the basic materials company’s stock valued at $13,082,000 after buying an additional 781,300 shares during the last quarter. Finally, Sound Point Capital Management LP bought a new stake in Pretium Resources in the first quarter valued at $8,494,000. Institutional investors own 52.55% of the company’s stock.

Several brokerages recently issued reports on PVG. ValuEngine upgraded Pretium Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Citigroup reduced their price objective on Pretium Resources from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 29th. Zacks Investment Research cut Pretium Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 16th. Finally, HC Wainwright set a $15.00 price objective on Pretium Resources and gave the stock a “buy” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $12.70.

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's principal project is the Brucejack project comprising 4 mining leases and 6 mineral claims covering an area of 3,304 hectares located in northwestern British Columbia.

Read More: Stock Symbol

Receive News & Ratings for Pretium Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pretium Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply