How Analysts Feel About Pretium Resources Inc (PVG) After Forming Wedge Down?

July 17, 2017 - By Richard Conner

Investors sentiment decreased to 0.93 in Q4 2016. Its down 0.63, from 1.56 in 2016Q3. It turned negative, as 13 investors sold Pretium Resources Inc shares while 31 reduced holdings. 10 funds opened positions while 31 raised stakes. 78.26 million shares or 4.70% less from 82.12 million shares in 2016Q3 were reported.
Bridger Management Lc has 1.65M shares. Legal & General Gru Inc Public Ltd has invested 0% in Pretium Resources Inc (NYSE:PVG). Mak One Ltd has 5.18% invested in Pretium Resources Inc (NYSE:PVG) for 680,800 shares. Manufacturers Life Insurance The owns 82,218 shares for 0% of their portfolio. Susquehanna International Limited Liability Partnership has 581,296 shares for 0% of their portfolio. Blackrock Fund invested in 13,093 shares. Guggenheim Limited Co reported 195,514 shares or 0% of all its holdings. Connor Clark & Lunn Investment Mngmt Limited has 0.11% invested in Pretium Resources Inc (NYSE:PVG). Moreover, Loews Corp has 0.06% invested in Pretium Resources Inc (NYSE:PVG). Mackenzie Corporation holds 0.11% or 2.32M shares. Syntal Capital Prtnrs Lc holds 25,590 shares or 0.2% of its portfolio. Grt Capital Ptnrs has 20,000 shares. Raymond James And owns 0% invested in Pretium Resources Inc (NYSE:PVG) for 21,058 shares. Citadel Lc accumulated 30,983 shares. Public Sector Pension Inv Board holds 987,500 shares or 0.08% of its portfolio.

The stock of Pretium Resources Inc (PVG) formed a down wedge with $9.14 target or 5.00 % below today’s $9.62 share price. The 5 months wedge indicates high risk for the $1.75 billion company. If the $9.14 price target is reached, the company will be worth $87.50M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 842,763 shares traded. Pretium Resources Inc (NYSE:PVG) has risen 14.20% since July 17, 2016 and is uptrending. It has underperformed by 2.50% the S&P500.

Pretium Resources Inc (NYSE:PVG) Ratings Coverage

Among 5 analysts covering Pretium Resources (NYSE:PVG), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Pretium Resources had 9 analyst reports since August 24, 2015 according to SRatingsIntel. The stock of Pretium Resources Inc (NYSE:PVG) has “Sector Perform” rating given on Monday, August 24 by RBC Capital Markets. On Thursday, October 22 the stock rating was upgraded by Canaccord Genuity to “Speculative Buy”. Zacks upgraded Pretium Resources Inc (NYSE:PVG) rating on Thursday, August 20. Zacks has “Hold” rating and $6.25 target. The firm earned “Buy” rating on Thursday, September 17 by Roth Capital. As per Monday, August 24, the company rating was maintained by Canaccord Genuity. RBC Capital Markets upgraded Pretium Resources Inc (NYSE:PVG) on Wednesday, March 8 to “Outperform” rating. Roth Capital maintained Pretium Resources Inc (NYSE:PVG) on Monday, March 14 with “Buy” rating. The company was maintained on Thursday, September 17 by H.C. Wainwright.

More news for Pretium Resources Inc (NYSE:PVG) were recently published by: Marketwired.com, which released: “Pretium Resource Inc.: First Gold Pour at Brucejack Mine” on June 20, 2017. Seekingalpha.com‘s article titled: “Pretium Achieves Commercial Production At The Brucejack Mine” and published on July 05, 2017 is yet another important article.

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