NEW YORK ( TheStreet) -- Capital Gold ( CGC), Uranerz Energy ( URZ), Richmont Mines ( RIC), Ur-Energy ( URG), Brigus Gold ( BRD), Uranium Resources ( URRE) and Golden Minerals ( AUMN) are seven mining stocks with potential upside of 10%-220%. Being analysts' favorites, most of these stocks have no sell ratings.

As these companies are uranium and gold miners, a peek into the fundamentals of the underlying metals is warranted. Uranium demand is currently outstripping supply in the U.S. During 2010, uranium demand from U.S. utilities was approximately 57 million pounds while production stood at 4.2 million pounds, according to the U.S. Energy Information Administration. However, secondary supply from Russia circumvents this supply shortfall.

Moreover, the long-term market fundamentals and uranium price outlook remain robust, given the growing emphasis on clean energy and fuel demand from nuclear reactors for electricity generation in developing countries such as China, India and South Korea.

The total new builds (under construction, planned and proposed) of nuclear reactors have grown from 250 as of Jan. 2007 to 544 as of March 2011, according to the World Nuclear Association (WNA). This increase will act as a demand driver for uranium as nuclear fuel.

Gold, on the other hand, has gained 30% during the past one year, primarily attributable to fears of a double-dip recession, Europe's debt crisis and growing demand India and China. This safe-haven buying may extend as tension mounts in Libya and the Middle East.

7. Capital Gold is a gold-producing and exploration company with growing presence in Mexico. The company owns and operates the El Chanate project, as well as the Orion Project in Nayarit, Mexico. After its recent acquisition of Nayarit Gold on Aug. 2, 2010, Capital Gold controls approximately 257,000 acres (104,000 hectares) of mining concessions.

During the latest second quarter ended Jan. 2011, the company reported earnings of $5.3 million, or 9 cents per share, compared to $2.9 million, or 6 cents per share in the year-ago quarter. Revenue for the period soared 51.5% to $20 million.

In terms of operating metrics, the company sold 14,573 ounces of gold at an average price of $1,375 per ounce, compared to 11,816 ounces at an average price of $1,119 during the quarter ended Jan. 2010. At the end of Jan. 2011, the company's proven and probable reserves are 77.7 million tons with contained gold of ~1.5 million ounces.

The company installed and commissioned two agglomeration drums in Feb. 2011 for better mixing of cement, lime and gold-leaching chemicals with the crushed ore. This development will help the company achieve its anticipated production target of 65,000-70,000 ounces of gold during 2011. The company sales volumes were 54,304 ounces during 2010.

Of the five analysts covering the stock, 80% recommend a buy, while the remaining rate it a sell. On average, analysts estimate an upside of 10.7% to $6.3 from current levels.

6. Uranerz Energy is an exploration-stage company engaged in the acquisition, exploration and, if warranted, development of uranium properties. The company is principally focused on achieving near-term commercial in-situ recovery (ISR) uranium production in the Powder River Basin area of Wyoming.

The company did not earn revenue during the year ended 2010. As a result, net loss during the year stood at $14.6 million, or 23 cents per share, as opposed to $8.7 million, or 15 cents per share a year ago. However, as of March 2, 2011, the company had over $47 million in its treasury, with no debt.

The company is awaiting the receipt of the final Materials License for its Nichols Ranch ISR Uranium project, and is well positioned to begin construction. The final Materials License from the United States Nuclear Regulatory Commission (NRC) is the final authorization required before on-site construction can commence on the Nichols Ranch ISR Uranium Project.

All the four analysts covering the stock recommended a buy on it. There are no sell ratings on the stock. On average, analysts foresee 49.4% upside to $5.8 from current levels.

5. Richmont Mines is engaged in the acquisition, exploration, operation, financing and development of mineral properties. The company currently produces gold from its Island Gold and Beaufor mines, and expects to begin production from its Francoeur Mine in mid-2011, increasing its production to 100,000 ounces of gold on an annual basis.

For the latest fourth quarter, the company reported 53% growth in revenue to $26.2 million from $17.1 million in the year-ago period. Moreover, net income surged to $4.6 million, or 15 cents per share, as compared to $110,000, or nil earnings per share in 2009 fourth quarter. For full-year 2010, revenue soared 26.3% to $90.8 million, while earnings jumped to $9 million, or 31 cents per share, from $336,000, or 1 cent per share in the previous year. Moreover, the company has a solid cash position with $40 million in cash and cash equivalents at the end of Dec. 2010.

On the production front, the company produced 66,849 ounces of gold during the year ended Dec. 2010, an increase of 13.3% over 2009 levels. The company expects to achieve production of 80,000-85,000 ounces during 2011.

All the four analysts covering the stock rated a buy on the stock. There are no sell ratings. On average, analysts estimate 55.8% upside to $9.52 from current levels.

4. Ur-Energy is a development-stage junior mining company engaged in the identification, acquisition, evaluation, exploration and development of uranium mineral properties in Canada and the U.S. The company's prime focus is to develop its roll front style uranium development projects (specifically the Lost Creek project) with in-situ recovery (ISR) potential located in Wyoming. The company holds mineral properties in the U.S. and Canada totaling more than 230,000 acres (>93,000 hectares)

Since the company is still in the development stage, it has not earned revenue since inception, For the year ended Dec. 2010, the company reported a net loss of $16.4 million or 17 cents per share, as opposed to a loss $18.7 million, or 20 cents per share, in the previous year.

The company recently revealed the results of the preliminary assessment conducted at its Lost Creek project. The measured and indicated resources stood at 5.23 million pounds and 0.78 million pounds of inferred mineral resources. Additionally, the company reported that it has entered into its first uranium sales agreement related to production at Lost Creek which calls for deliveries over a three-year time frame at a defined price.

Of the five analysts covering the stock, 80% recommend a buy while the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 70% upside to $3.4 in value from current levels.

3. Brigus Gold engages in gold mining, extraction, processing, as well as related activities, including 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.

The company last released its results for third quarter ending Sep. 2010. The company reported a 23.8% increase in revenue to $23.7 million, while a narrowed net loss of $12 million, or 9 cents per share, compared to $16.9 million, or 26 cents per share, a year ago.

During the nine months ended Sep. 2010, the company produced 53,729 ounces of gold as against 31,381 ounces in the comparable period a year ago. Total cash costs per ounce of gold declined 7.6% to $499 from $540, while average realized gold price increased 7.2% to $939 from $876 during the nine months ended Sep. 2009.

Going forward, the company targets production of 16,000-19,000 ounces of gold during the fourth quarter ended Dec. 2010 at an estimated cash cost of $540 to $580 per ounce. The upper range of the company's guidance will take production levels to ~73,000 ounces of gold during 2011. The company targets production of 102,000-112,000 for 2011, representing a y-o-y increase of 40-50%.

All the three analysts covering the stock rate it a buy. There are no sell ratings. On average, analysts estimate 83% upside to $3 in value from current levels.

2. Uranium Resources is a uranium exploration, mine development and production company engaged in acquiring and developing uranium mines in South Texas and New Mexico using the in-situ recovery mining process (ISR). Currently, the company has three developed stage and two early exploration properties in South Texas, and seven development stage properties in New Mexico. Contained minerals resources in New Mexico are 101 million pounds on an aggregate ~741 sq km of uranium mineral holdings.

During 2010, the company completed two common stock offerings, including the exercise of over-allotment options, raising $10.4 million in the second quarter and $9.0 million in the fourth quarter. This development enabled the company to further building its asset base in Texas and bringing its properties in New Mexico into production. Cash and cash equivalents as of Dec, 31, 2010 was $15.4 million compared with $10.5 million at the end of the previous quarter and $6.1 million at the end of 2009.

The company recently entered into a three-year agreement to explore 53,500 acres in Kennedy County, Texas, with an option to lease the acreage for uranium production. The lease option agreement includes a minimum exploration obligation of 100 exploration wells with an investment of $1.0 million during the first year, an additional 200 exploration wells or $1.5 million investment in the second year and, in the third year, another 200 exploration wells or $2.0 million investment. The property is located within the prolific South Texas uranium district.

One analyst covering the stock has recommended a buy, while there are no sell ratings. According to the estimate, the stock has an upside of 134.7% to $5 from current levels.

1. Golden Minerals owns and controls a diversified portfolio of exploration projects with potential district scale properties in Latin America. The company's project pipeline is defined as feasibility and advanced exploration. Its most advanced project, under the feasibility stage, is El Quevar in Argentina. The company has one project under the advanced exploration stage, the Zacatecas project in Mexico, and 5 exploration stage projects: Atlas, Chavin, Cochabamba, Jehuemarca and La Pinta, in Argentina, Mexico and Peru.

During the year ended Dec. 2010, Golden Minerals recorded a net loss of $33.3 million, which included $15.8 million of expenses related to the El Quevar project, $13.3 million of exploration costs and $8.6 million of administrative overheads. Moreover, cash and cash equivalents stood at $121 million.

During Oct. 2010, the company closed a public offering of ~4.6 million shares, including 608,250 underwriter shares and a private placement of ~1.2 million shares to the Sentient Group. Both these issues were priced at $18.50 per share, taking the total proceeds of the offerings to ~$103 million.

All the three analysts covering the stock recommend a buy. There are no sell ratings on the stock. On average, analysts estimate a whopping 222% upside to $61.3 in value from current levels.

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