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Saturday, October 24, 2020

Pretium Resources Inc. (NYSE:PVG) on the Path to Profitability

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Pretium Resources Inc. (PVG) shares are trading at higher $12.40 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $13.66.

To add more color to this target, the company’s high over the last year is $14.55 and the low is $4.05. Over the last 52 weeks, PVG is up 0.16% while the S&P 500 is up 18.10%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PVG reported a profit of $60.01 million. Pretium Resources Inc. also saw revenues increase to $166.57 million. In addition, PVG has free cash flow of $124.19 million as of 06-2020. The company’s EBITDA came in at $88.03 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PVG has a short ratio of 3.79 and outstanding shares of 186.68M.

Company Outlook

PVG has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at 0.35. Pretium Resources Inc. PVG also noted assets of $1.63 billion at the end of the last quarter. Investors should also keep an eye on sector updates as PVG has historically followed its peers on positive news.

All told, Pretium Resources Inc. PVG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PVG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Pretium Resources Inc. PVG is now commanding a market cap of 2.31B and a float of 185.91M. PVG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PVG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PVG, either long or short, and we have not been compensated for this article.

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