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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

7 Mining Stocks to Watch

Stocks in this article: IVN AEM NEM BHP CDE VALE HBM

6. Agnico-Eagle Mines (AEM) is a Canada-based international gold producer with mining operations in northwestern Quebec, northern Mexico, northern Finland and Nunavut, and exploration activities in Canada, Europe, Latin America and the U.S., where it has six operating 100%-owned mines.

Second quarter 2011 revenue was recorded at $434.9 million, vs. $353.9 million in the year-ago quarter. Net income for the quarter stood at $68.8 million, or 41 cents per share. During the quarter, the company recorded strong operating cash flow of $162.8 million, or 96 cents per share. Also, cash and cash equivalents increased to $139.0 million at the end of Jun. 2011, higher than the prior quarter's $114.8 million. Total cash costs for the quarter reduced to $565 per ounce from $482 per ounce in year-ago quarter.

At the end of second quarter 2011, payable production at the Pinos Altos mine stood at 51,066 ounces of gold at total cash cost per ounce of $299, as compared to 29,665 ounces at a total cash cost of $365 in the same quarter prior year. On consolidated basis, total payable production for gold was 239.3 million ounces, silver 1.2 million ounces, zinc 14.7 million ounces and copper 666,000 ounces.

At the end of August, the company went ex-dividend with shareholders being eligible for a dividend of 16 cents per share. AEM has a dividend yield of 1%.

Of the 20 analysts covering the stock, 60% recommend a buy and the rest rate a hold. The stock has no sell ratings. Data from Bloomberg has analysts forecasting the stock gaining 19.6% to $85.19 over the next 12 months.

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