Pretium Resources (PVG) closed the most recent trading day at $10.16, moving +0.99% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.33%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.67%.
Coming into today, shares of the gold mining company had lost 6.85% in the past month. In that same time, the Basic Materials sector lost 3.15%, while the S&P 500 gained 3.24%.
Investors will be hoping for strength from PVG as it approaches its next earnings release. The company is expected to report EPS of $0.11, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $134.75 million, up 24.08% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for PVG. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.97% higher. PVG is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note PVG's current valuation metrics, including its Forward P/E ratio of 10.4. Its industry sports an average Forward P/E of 14.48, so we one might conclude that PVG is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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