The stock of Pretium Resources Inc. (NYSE:PVG) is now priced at $12.53 and the shares are -0.29 points down or -2.26% lower compared to its previous closing price of $12.82. The stock had 1.523 million contracts set over the past session. PVG shares’ daily volume is compared to its average trading volume at 2.312 million shares. However, it has a float of 186 million and although its performance was 5.83% over the week, it’s one to watch. Analysts have given the PVG stock a yearly average price target of $13.66 per share. It means the stock’s upside potential is 9.02% with the PVG share price recently placing at $12.28 to $13.02. However, some brokerage firms have priced the stock below the average, including one that has called $9.16.
The shorts are running away from the Pretium Resources Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PVG shares have declined. Short interest in the stock represents just 5.94% of its float, but the volume has dropped by 0.
In the last trading session, Pretium Resources Inc. (NYSE:PVG) raised by $0.69 over the week and gained $2.49 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.83. The stock recorded its established 52-week high on 09/04/19.
Since 03/16/20, the stock has traded to a low of $4.05 at 209.38%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Pretium Resources Inc.’s two-week RSI is 64.41. This suggests that the stock is neutral at the moment and that PVG shares’ price movement remains stable. The stochastic readings are equally revealing at 84.61% meaning the PVG share price is currently in oversold territory.
The technical chart shows that the PVG stock will likely settle at between $12.94 and $13.35 per share. However, if the stock dips below $12.2, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $11.87.
Currently, the stock is trading in the green of MACD, with a reading of 0.45. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at ROTH Capital raised their recommendation for PVG from Neutral to Buy in March 13 review. RBC Capital Mkts analysts downgraded their recommendation of the stock from Outperform to Sector Perform in a flash note released to investors on November 01. B. Riley FBR analysts see the stock as Buy when the analysts initiated the share price coverage on March 01, placing it at $19.35.
The average rating for the PVG equity is 2.43 and is currently gathering a bullish momentum. Of 5 analysts tracking Pretium Resources Inc. polled by Reuters, 2 rated PVG as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PVG stock price is 25.06X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 35.8 above the group’s average of 23.7. Pretium Resources Inc. has its P/E ratio at 2.3, which means that the stock is currently trading at a discount relative to the 2.7 industry average.