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7 Mining Stocks With Upside

Stocks in this article: AUMNURREBRDURGRICURZCGC

7. Capital Gold is a gold-producing and exploration company with growing presence in Mexico. The company owns and operates the El Chanate project, as well as the Orion Project in Nayarit, Mexico. After its recent acquisition of Nayarit Gold on Aug. 2, 2010, Capital Gold controls approximately 257,000 acres (104,000 hectares) of mining concessions.

During the latest second quarter ended Jan. 2011, the company reported earnings of $5.3 million, or 9 cents per share, compared to $2.9 million, or 6 cents per share in the year-ago quarter. Revenue for the period soared 51.5% to $20 million.

In terms of operating metrics, the company sold 14,573 ounces of gold at an average price of $1,375 per ounce, compared to 11,816 ounces at an average price of $1,119 during the quarter ended Jan. 2010. At the end of Jan. 2011, the company's proven and probable reserves are 77.7 million tons with contained gold of ~1.5 million ounces.

The company installed and commissioned two agglomeration drums in Feb. 2011 for better mixing of cement, lime and gold-leaching chemicals with the crushed ore. This development will help the company achieve its anticipated production target of 65,000-70,000 ounces of gold during 2011. The company sales volumes were 54,304 ounces during 2010.

Of the five analysts covering the stock, 80% recommend a buy, while the remaining rate it a sell. On average, analysts estimate an upside of 10.7% to $6.3 from current levels.

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