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Letko, Brosseau & Associates reduced stake in Pretium Resources Inc

Published 01/25/2021, 03:50 PM
Updated 01/25/2021, 04:00 PM
© Reuters.  Letko, Brosseau & Associates reduced stake in Pretium Resources Inc
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On the 31st of December, Letko, Brosseau & Associates sold 1.8 million Pretium Resources Inc (NYSE:PVG) shares for $21 million at an average price of $11.48 per share. Shares of Pretium Resources Inc are down -8.45% since the transaction.

Letko, Brosseau & Associates's holding in Pretium Resources Inc decreased to about 11 million shares with the transaction.

Letko, Brosseau & Associates first bought Pretium Resources Inc stock in the first quarter of 2018. Letko, Brosseau & Associates also owns Hudbay Minerals Inc . (NYSE:HBM). Pretium Resources Inc is its number two position by number of shares and market value among gold & silver stocks.

Other investors who also reduced their Pretium Resources Inc shares include Citigroup (NYSE:C), Fort Washington Investment Advisors, and Gotham Asset Management. Contrary to Letko, Brosseau & Associates, Investec Asset Management added to PVG shares.

Letko, Brosseau & Associates has also recently reduced their share in Hudbay Minerals Inc. The total value of the shares sold is estimated at around $63 million.

Letko, Brosseau & Associates also reduced their share in Celestica, Inc. (NYSE:CLS) and Norbord Inc. (NYSE:OSB). The total value of the shares sold is estimated at around $64 million.

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