8. Claude Resources (CGR) explores for precious metals. The company's mineral properties are located in northern Saskatchewan and northwestern Ontario. The company also owns and administers oil, natural gas liquids and natural gas property interests in Alberta.
For 2010, Claude swung to a net profit of $5.8 million, or 4 cents per share, from a net loss of 6.3 million, or 6 cents, in 2009. Gold revenue from Seabee increased 15% for the same period. In early April, the company's new Santoy 8 gold mine achieved commercial gold production at the Seabee Gold Operation in northeastern Saskatchewan. The company's CEO said the new mine would improve Seabee's production profile and reduce unit cash costs in upcoming quarters, generating higher net earnings and working capital for further growth.
Claude Resources recently completed a $57.5 million equity financing, or $2.50 per share. The company will use the proceeds for the exploration and development of projects and for general corporate purposes.Of eight analysts covering the stock, 88% recommend it as a buy while the remaining rate it a hold. There are no sell ratings. Data from Bloomberg has analysts predicting an average 12-month price target of $3.17, 48% higher than the stock's recent price.
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