4. Brigus Gold (BRD) engages in gold mining, extraction and processing, as well as exploration and development. The company owns Black Fox, an open-pit and underground mine and mill located near Matheson in the Province of Ontario, Canada. Brigus also owns Mexican subsidiaries, which own concessions at the Huizopa exploration project, located in the Sierra Madres in Chihuahua, Mexico.
For the year ended Dec. 2010, the company reported an 82.8% year-over-year increase in revenue to $85.9 million from $47 million, benefiting from escalating gold sales and higher average selling prices. Gold sales soared 52% to 69,922 ounces from 46,016 ounces during 2009, while average realized price rose 12% to $981 per ounce from $876 per ounce in the prior year.
For the first quarter of 2011, Brigus targets gold production at 8,500 gold ounces and 71,500-75,500 ounces for the remaining three quarters, translating into full year 2011 production of ~80,000-84000 ounces of gold.All the three analysts covering the stock rate it a buy. The stock has no sell ratings. On average, analysts estimate 81.4% upside to $2.59 in value from current levels.
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