Scotiabank Keeps a Hold Rating on Pretium Resources

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Pretium Resources (TSX: PVG). Analyst Ovais Habib from Scotiabank reiterated a Hold rating, with a C$16.50 price target.

According to TipRanks.com, Habib is a 4-star analyst with an average return of 11.3% and a 40.5% success rate. Habib covers the Basic Materials sector, focusing on stocks such as Primero Mining Corp, Pretium Resources, and Timmins Gold Corp.

Pretium Resources has an analyst consensus of Moderate Buy, with a price target consensus of C$18.

Based on Pretium Resources’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$0 and GAAP net loss of C$5.64 million. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$14.92 million.

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 Wednesday at $12.34.