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Pretium on track to achieve guidance, shares jump

pretium-on-track-to-achieve-guidance,-shares-jump

Midday Friday, Pretium’s stock was up 13% on the NYSE

Pretium said it remains on track to produce 325,000 ounces to 365,000 ounces of gold at an all-in sustaining cost of between $1,060/oz and $1,190/oz in 2021.

Revenue in Q2 decreased by 8.6% year-on-year to $152 million from the sale of 84,618 ounces.

The miner posted net earnings of $30.7 million, or $0.16 a share, and adjusted earnings of $28.5 million, or $0.15 a share, compared with earnings of $36.1 million and adjusted earnings of $32.9 million in Q2 2020.

President and CEO Jacques Perron reported that Pretivm had reached a key turning point where its cash position now exceeded its debt.

Cash and cash equivalents increased to $202.5 million on June 30, 2021, from $174.8 million on December 31, 2020.

As of June 30, Pretium had long-term debt of $195.2 million and available liquidity of $400.8 million.

Midday Friday, Pretium’s stock was up 13% on the NYSE. The company has a $1.8 billion market capitalization.

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