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TheStreet Open House

5 Mining Stocks: Performance Update

Stocks in this article: IAGSWCMTLPALGRZ

NEW YORK ( TheStreet) -- IAMGOLD (IAG), Mechel (MTL) and North American Palladium (PAL) are among a few mining stocks that outperformed the index during the past week. These stocks may continue to outstrip the index on strong fundamentals, company outlook, and analysts' potential upsides. During the last week, these stocks have gained between 1% to 14%, compared to a 4% drop registered by the Nasdaq.

Below, the stocks are ordered in terms of one-week return, lowest to highest.


5. IAMGOLD (IAG) is a gold mining company producing approximately one million ounces annually from eight gold mines located on three continents. The company also operates Niobec, a niobium mine in the Canadian province of Quebec. The stock has gained 1.4% during the past week and 2.9% during yesterday's (June 9, 2011) trading session.

During the first quarter 2011, total revenue stood at $432.5 million, up 80% from $240.1 million in the year-ago quarter due to the addition of production from the Essakane mine and higher gold prices. Gold sales stood at 325,000 ounces, up 47% from 221,000 ounces in the fourth quarter of 2010, while average realized gold price increased 26% sequentially to $1,396 per ounce from $1,111 per ounce. Net income surged 170% to $162.3 million, or 41 cents per share, from $60.2 million, or 15 cents per share, in the fourth quarter of 2010.

The company reported strong operating cash flow of $205.8 million, or 55 cents per share, up 177% year-over-year from $74.3 million, or 20 cents per share. Moreover, the company's financial position has strengthened with cash, cash equivalents and gold bullion (at market) of $621.4 million and availability under the credit facility of $350 million at March 31, 2011.

The company expects attributable gold production of 950,000 to 1.05 million ounces during 2011 at an average realized gold price of $1,400 per ounce. Niobium production is forecast to produce 4.5 to 5 million kg.

Of the 17 analysts covering the stock, 76.5% recommend a buy, while the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 23.7% upside to $25.93 in value from current levels.

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