Sprott INC Increased Pretium Res INC (NYSE:PVG) by $5.80 Million as Shares Rose


Eric Sprott increased its stake in Pretium Res Inc (NYSE:PVG) by 54.91% based on its latest 2016Q2 regulatory filing with the SEC. Sprott Inc bought 1.16 million shares as the company’s stock rose 4.90% with the market. The hedge fund run by Eric Sprott held 3.27M shares of the basic industries company at the end of 2016Q2, valued at $17.51M, up from 2.11 million at the end of the previous reported quarter. Sprott Inc who had been investing in Pretium Res Inc for a number of months, seems to be bullish on the $1.98 billion market cap company. The stock decreased 2.21% or $0.24 on September 13, hitting $10.85. About 3.09M shares traded hands or 116.08% up from the average. Pretium Resources Inc (NYSE:PVG) has risen 121.12% since February 8, 2016 and is uptrending. It has outperformed by 104.63% the S&P500.

Sprott Inc, which manages about $3.27 billion and $1.27B US Long portfolio, decreased its stake in Nxp Semiconductors Nv (NASDAQ:NXPI) by 171,740 shares to 174,500 shares, valued at $14.15M in 2016Q2, according to the filing. It also reduced its holding in Alps Sprott Jr Gold Miners by 425,000 shares in the quarter, leaving it with 200,000 shares, and cut its stake in Spdr S&P 500 Etf.

Sprott Inc is a Ontario, Canada-based hedge fund that was founded by Eric Sprott. It had more than $3.27 billion assets under management in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Sprott latest Adv, the fund reported to have 25 full and part-time employees. Among which 14 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

The institutional sentiment decreased to 1.77 in 2016 Q2. Its down 0.86, from 2.63 in 2016Q1. The ratio dived, as 14 funds sold all PVG shares owned while 16 reduced positions. 18 funds bought stakes while 35 increased positions. They now own 76.33 million shares or 14.96% more from 66.40 million shares in 2016Q1.

Bridger Management Llc holds 1.19% of its portfolio in PVG for 1.65 million shares. Van Eck Associates Corp owns 15.87 million shares or 0.91% of their US portfolio. Moreover, Cambrian Capital Limited Partnership has 0.71% invested in the company for 106,100 shares. The New York-based Penbrook Management Llc has invested 0.6% in the stock. Bluefin Trading Llc, a New York-based fund reported 415,381 shares.

Out of 3 analysts covering Pretium Resources (NYSE:PVG), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pretium Resources has been the topic of 4 analyst reports since September 17, 2015 according to StockzIntelligence Inc. Roth Capital maintained the stock on March 14 with “Buy” rating.

Pretium Resources Inc. is a Canada-based exploration and development company. The company has a market cap of $1.98 billion. The Firm is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. It currently has negative earnings. The Company’s projects include Brucejack Project and the Snowfield Project, both of which are located in northwestern British Columbia.

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