10:07 AM EST, 01/25/2018 (MT Newswires) -- Pretium Resources (PVG.TO) has shed 3% in recent trade after RBC Capital reduced its target price on the stock to $14 from $18 while keeping an outperform view.

RBC believes Pretium provides an opportunity for patient long-term investors given that the market appears to be pricing in grades 15% - 25% below those implied by reserves. While assuming a direct read-through to all reserves based on negative reconciliation the first few months of production is premature, the broker believes a dose of conservatism is now warranted. Until demonstrated, the broker has assumed average processed grades 10% below stated reserves.

Price: 9.99, Change: -0.30, Percent Change: -2.9