NEW YORK (TheStreet) -- IAMGOLD (IAG - Get Report), 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 - Get Report) 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.

4. Stillwater Mining ( SWC) engages in the development, extraction, processing, refining and marketing of palladium, platinum and associated platinum group metals (PGMs). The company conducts mining operations in Montana at the Stillwater Mine near Nye, and the East Boulder Mine near Big Timber. The stock has gained 1.8% during the past one week.

Palladium prices have increased 4.2% during the past one week. Palladium was last seen trading at $818.5 per ounce. Stillwater reported net income of $36.2 million for the 2011 first quarter, or 34 cents per share, on revenue of $170.1 million. This compares to net income of $13.4 million, or 14 cents per diluted share, on revenue of $133.5 million during the first quarter of 2010. Both the Montana mines produced 131,200 ounces of palladium and platinum during the quarter, representing a year-over-year increase of 1.7% and 8.3% sequentially. Average realized price per ounce (palladium and platinum combined) stood at $994 per ounce, up 54.3% year-over-year.

At March 31, 2011, the company's available cash and cash equivalents (excluding $35.1 million of restricted cash) totaled $43.3 million, up $24 million from Dec. 31, 2010. Furthermore, operating cash flow increased 13.8% to $33.9 million from $29.8 million.

Of the four analysts covering the stock, 75% recommend buying it, while the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 57.3% upside to $31.50 in value from current levels.

3. Mechel ( MTL) operates in four segments: mining, steel, ferroalloys and power. Its mining segment produces coking and steam coal, as well as iron ore and iron ore concentrate. Its steel segment produces and sells semi-finished steel products, carbon and specialty long products. Mechel's ferroalloys segment produces and sells low-ferrous ferronickel, ferrochrome and ferrosilicon. Its power segment produces and sells electricity to internal and external customers. The stock has gained 2.5% during the last one week.

For the year ended Dec. 2010, revenue surged 69.4% to $9.7 billion from $5.7 billion in the previous year, attributable to higher sales prices and volumes across all its segments and improved sales volumes of products the company purchased on the market and re-sold to related metallurgical plants. Subsequently, net income soared to $657.2 million from $73.7 million during 2009.

The company recently announced dividends of approximately 32 cents per ordinary share and 95 cents per preferred share. Effectively, the company will be paying approximately $262.9 million in dividends for 2010, up from $29.5 million a year ago.

Of the 24 analysts covering the stock, 88% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 31% upside to $35.51 in value from current levels.

2. North American Palladium ( PAL) is a diversified precious metals company holding interests in two mines and various mineral properties. The company explores and mines palladium, platinum, gold and certain base metals. The stock has gained 2.7% during the last one week and 7% in yesterday's (June 9, 2011) trading session alone riding on the run-up in prices of the underlying metal.

For first quarter 2011, net loss narrowed to $10.3 million, or 6 cents per share from $18.4 million, or 14 cents per share in the year-ago quarter. Sales grew multi-fold to $36.7 million from $7.9 million, as the company has launched sales of palladium, platinum, nickel and copper. Gold sales stood at 6,300 ounces compared to 6,700 ounces in the first quarter of 2010.

As at March 31, 2011, the company had approximately $163.3 million in working capital (including $100.1 million of cash on hand) and no long-term debt. During the quarter, the company received proceeds of $21.3 million from the exercise of Series A warrants and $22 million from financing of flow-through shares. The company believes that its operating cash flow together with its cash reserves and credit facilities, which remain undrawn, provide the company financial flexibility to advance its development projects.

Of the 11 analysts covering the stock, 73% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 61% upside to $6.10 in value from current levels.

1. Gold Reserve ( GRZ) is an exploration stage company engaged in the business of acquiring, exploring and developing mining projects. It is focused on the development of the Brisas gold and copper project located in the mining district of the State of Bolivar in southeastern Venezuela. The stock has gained 13.7% during the past one week.

Being an exploration stage company, GRZ has not generated any revenue until date. Consequently, net loss for the first quarter ended March 2011 stood at $5.2 million or 9 cents per share, compared to $4.4 million or 8 cents per share in the year-ago quarter. Cash and cash equivalents increased 10.4% sequentially to $64.2 million from $58.2 million as of Dec. 2010. Moreover, the company's liquidity position is robust, as represented by a current ratio of 21.66.

One analyst covering the stock recommends a hold.