01:39 PM EDT, 08/23/2018 (MT Newswires) -- RBC Capital has maintained its Outperform/Speculative Risk rating on Pretium Resources after a recent visit to Brucejack. The visit reinforced the analyst's constructive outlook for Pretium and likelihood for shares to re-rate higher as "quarter-over-quarter consistency is demonstrated, market confidence in underlying free cash flow improves, and balance sheet is restructured."

RBC notes that management appears confident that Pretium will be able to refinance $423 million of project debt ($350 million plus accrued interest) and repurchase the gold/silver stream by year-end. Pretium has the flexibility to defer the debt repayment to 2019 (cost of $11 milion) and defer the stream buyback to next year ($272 million versus $237 million at year-end 2018). Management expects to use new debt to refinance the existing facility as well as cash ($143 million) and cash flow in H2/18 to repurchase the stream.

"We expect Pretium shares to re-rate higher over the coming months as market confidence in underlying free cash flow and operational consistency improves."

Price: 11.00, Change: -0.30, Percent Change: -2.65