PVG - Pretium Resources: Turnaround Thesis Remains Intact

• Pretium Resources released its Q3 results this week, with quarterly gold production down 2% year-over-year to 86,100 ounces.
• However, the higher gold price led to a sharp increase in revenues, with Pretium posting one of the highest average realized gold prices among its peers at $1,935/oz.
• The turnaround story here continues to remain intact, with Pretium on track for its first year of delivering above investor expectations after a long period of over-promising and under-delivering.
• I continue to see more attractive opportunities elsewhere in the sector, but a pullback below $11.10 would make the valuation here quite attractive.

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