RBC Capital Reiterates a Buy Rating on Pretium Resources

By Ryan Adsit

Pretium Resources (TSX: PVG), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Stephen Walker from RBC Capital rated Pretium Resources (TSX: PVG) a Buy, setting a C$18 price target.

According to TipRanks.com, Walker is a 4-star analyst with an average return of 3.9% and a 49.9% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Novagold Resources Inc New, and Hecla Mining Company.

Currently, the analyst consensus on Pretium Resources is Moderate Buy and the average price target is C$18, representing a 36.7% upside.

In a report issued on May 1, BMO Capital also reiterated a Buy rating on the stock with a C$19.50 price target.

The company has a one year high of C$16.48 and a one year low of C$9.05. Currently, Pretium Resources has an average volume of 534.4K.

Pretium Resources, Inc. acquires, explores, and develops gold and precious metals resource properties. Its projects include Snowfield and Brucejack which are located in British Columbia. The company was founded by Robert Allan Quartermain on October 22, 2010 and is headquartered in Vancouver, Canada.

The company’s shares closed last Monday at $13.17.