The stock of Pretium Resources Inc (TSE:PVG) gapped up by $0.14 today and has $19.08 target or 39.00% above today’s $13.73 share price. The 7 months technical chart setup indicates low risk for the $2.50 billion company. The gap was reported on Nov, 1 by Barchart.com. If the $19.08 price target is reached, the company will be worth $975.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 235,651 shares traded hands. Pretium Resources Inc (TSE:PVG) has risen 93.08% since March 28, 2016 and is uptrending. It has outperformed by 90.06% the S&P500.
Pretium Resources Inc (TSE:PVG) Ratings Coverage
Out of 7 analysts covering Pretium Resources (TSE:PVG), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $16.75 is the highest target while $8.50 is the lowest. The $12.81 average target is -6.70% below today’s ($13.73) stock price. Pretium Resources has been the topic of 13 analyst reports since August 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Pretium Resources Inc (TSE:PVG) on Tuesday, June 28 with “Sector Perform” rating. The rating was maintained by Scotia Capital with “Sector Perform” on Friday, July 22.
More recent Pretium Resources Inc (TSE:PVG) news were published by: Fool.com which released: “Why Pretium Resources Inc Shares Plunged Today” on February 23, 2016. Also Forbes.com published the news titled: “Pretium Resources Becomes Oversold (PVG)” on August 24, 2016. Seekingalpha.com‘s news article titled: “Pretium Resources – 2Q’16 Earnings Review” with publication date: August 12, 2016 was also an interesting one.
Pretium Resources Inc. is a Canada-based exploration and development company. The company has a market cap of $2.50 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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