SELL: Pretium Resources Inc. (PVG)
From Jack Adamo’s Insiders Plus
Updated from Wall Street’s Best Investments 812, December 19, 2018
This week Pretium Resources Inc. (PVG) posted its full financial statements for Q1. I was less than thrilled with the full report and saw no reason to give the benefit of the doubt to its adjusted earnings of 9¢ per share. Hence, its IFRS EPS of 2¢ per share are what I have to go on. That means the stock is exceedingly expensive. Although this report was a big improvement from last year, the company’s history has been exceptionally rocky. Maybe the Brucejack mine will turn out to be all it has been cracked up to be, but at its current valuation and with more than one attractive alternative, I’d rather take our small loss and move on. Sell Pretium Resources.
Jack Adamo, Jack Adamo’s Insiders Plus, www.jackadamo.com, May 11, 2019