Pretium Resources Inc.

Pretivm is creating value through gold by ramping up production of the 100%-owned Brucejack Mine.

The Brucejack Mine is a 2,700 tonnes-per-day high-grade gold underground mine located in northwestern British Columbia, approximately 65 kilometers north of Stewart. The mine began commercial operation in the summer of 2017 and produced 154,484 ounces of gold during the first six months of ramp-up.

A feasibility study completed in June 2014 and updated in December 2016 has outlined Proven and Probable mineral reserves in Brucejack’s Valley of the Kings comprising 8.1 million ounces of gold (15.6 million tonnes grading 16.1 grams per tonne gold).

Pretivm trades on the TSX and NYSE under the ticker symbol "PVG".

Expert Comments:

B. Riley FBR Inc.

"We are maintaining our Buy rating but increasing our target price on Pretium Resources Inc. to $27/share from $13.75/share to reflect recent movements and future expectations of commodity prices. Given the current macro backdrop and parallels we see to past periods, we believe that gold prices will rise to the $2,500/oz level, and we feel compelled to align our 12-month price targets to this view."

Andrew Mikitchook, BMO Capital Markets

"A key takeaway, in our opinion, from Pretium Resources Inc.'s revised mine plan for Brucejack is that the mine continues to deliver strong free cash flows. . .free cash flows remain significant from 2020 onwards, exceeding debt repayments over the next three years."

headshot of Joe Reagor

Joe Reagor, ROTH Capital Partners

"Pretium Resources Inc. released an updated reserve estimate and mine plan for the Brucejack mine. . .the company's revised estimates are more conservative and leave room for outperformance. As such, we are increasing our price target from $8 to $8.75 and upgrading to Buy from Neutral."

Pretium Resources' flagship gold operation in B.C. should generate strong cash flow well into the future, the company stated.
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headshot of Chen Lin

Chen Lin, What Is Chen Buying? What Is Chen Selling?

"Pretium Resources Inc. announced a good reserves report. . .its cash flow at the current gold price is close to $300M/year. . .the report looks strong to me, and it is probably safe to add the company now using the market weakness."

Andrew Mikitchook, BMO Capital Markets

"Pretium Resources Inc. published an updated life-of-mine plan for the Brucejack deposit. . .a key takeaway in our opinion from this revised mine plan is that the mine continues to deliver strong free cash flows. The company forecasts that over the next three years, at $1,600/oz gold prices, Brucejack will deliver $700M of cash flows."

Pretium Resources also provides guidance for 2020 costs, cash flow and debt reduction.
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headshot of Bhakti Pavani

Bhakti Pavani, Alliance Global Partners

"Pretium Resources Inc. reported Q4/19 revenue/earnings per share of $135.5M/$0.11 versus our estimate of $128.9M/$0.14; the higher-than-expected revenue can be primarily attributed to both higher gold sales and better-than-expected gold price realizations. The company sold 93,248 oz gold at an average price of $1,480/oz versus our estimate of 88,156 oz gold sold at an average price of $1,450/oz."

A conference call is to follow shortly afterward.
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More Expert Comments

Experts Following This Company

Adam Graf – B. Riley FBR Inc.
headshot of Andrew Kaip
Andrew Kaip, Analyst – BMO Capital Markets
headshot of Chen Lin
Chen Lin What Is Chen Buying? What Is Chen Selling?
Andrew Mikitchook, Analyst – M Partners
headshot of Bhakti Pavani
Bhakti Pavani – Alliance Global Partners
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
Anita Soni, Analyst – CIBC World Markets

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
High-Grade Underground Gold Mine in British Columbia, Canada
Ramping Up Production to Steady State
Local and Regional Exploration Potential
Pretium Resources Inc. Content