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Jaguar Mining(JAG) is a gold mining company engaged in gold production and in the acquisition, exploration, development and operation of gold mineral properties in Brazil. This stock is down by around 15% so far in 2011, but if gold takes off again, we should see JAG rack up some solid gains.
52-Week Range: $4.03-$7.90
Today's Volume: 2.18 million
Three-Month Average Volume: 2.13 million
Jaguar Mining has a market cap of $506.24 million and an enterprise value of $609.80 million. The stock trades at a forward price-to-earnings of 12.24. Its estimated growth rate for this year is 268.40%, and for next year it's pegged at 53.10%. The current short interest as a percentage of the float for Jaguar is a rather large 14.3%.
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From a technical standpoint, traders should look to play the breakout for Jaguar if the stock can manage to trade above $6.77 to $6.78 on heavy volume. Look for volume that's tracking in close to or above its three-month average volume of 2.13 million. It's worth noting that volume during the past couple of weeks on the up days has been tracking in very strong.
Traders should look to play the breakout and then add to any long positions if the stock takes out its next significant resistance level at $8.30 a share. Make sure to keep a tight mental stop just below the breakout levels if we get it, in case the stock fails to trend higher.