This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

8 Mining Stocks to Watch

7. Brigus Gold (BRD) engages in gold mining, extraction, 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.

For the first quarter ended March 2011, the company reported 22.9% year-over-year decrease in revenue to $13.6 million from $17.6 million, as lower gold sales more than offset higher average selling prices. Gold sales declined 36.7% to 10,003 ounces from 15,796 ounces during the first quarter of 2010 because the Black Fox mill processed lower grade ores, averaging 1.67 gm per tonne (gpt) compared to 2.68 gpt in the year-ago quarter. Average realized gold price rose 54.8% to $1,356 per ounce from $876 per ounce.

The company swung to a net income of $2.8 million, or 2 cents per share, compared to a loss of $1.8 million, or 3 cents per share, driven by a gain on the fair value adjustment related to equity-linked financial instruments of $6.5 million, compared to a gain of $2 million in the same quarter last year.

The company strengthened its balance sheet by repaying the balance $22 million on the Black Fox property and raised $50 million from the issuance of senior unsecured convertible debentures.

Brigus recently announced that exploration drilling on the southern part of the Black Fox complex continues to return excellent gold assays over significant widths within the new 147 gold zone (147 Zone), including 3.96 gpt over 50 metres that included 6.82 gpt over 20 metres.

Going forward, the company projects production of approximately 73,000 to 80,000 ounces of gold at a cash cost of $575 to $625 in 2011. The Black Fox mine is expected to produce between 16,500 to 18,000 ounces of gold in the second quarter of 2011.

Two analysts covering the stock rate it a buy. The stock has no sell ratings. On average, analysts estimate 62.3% upside to $2.56 in value from current levels. The stock has gained 8.2% in the last one month.

2 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs