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Metals & Mining Analysts' Ratings & Estimates - Juniors

Junior Producers, Development/Advanced Exploration Stage
Iron Ore, Base Metals, Gold, Silver, Pt-Group Metals, Specialty Metals, Uranium, Coal, Fertilizers

Small-Cap Base Metals
Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
  Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Anglo Pacific Group PLC (UK) APF 1.3 GBP$1.40 181 $335 0.17 0.19 0.15 0.13 0.18 7.4 9.0 10.8 8.0 Royalties
Arizona Mining (CN) AZ 2.6 US$4.67 313 $1,463 (0.02) (0.02) (0.03) (0.03) 0.52 -- -- -- 9.0 Zn/US
Atalaya Mining PLC (UK) ATYM -- EUR$2.77 137 $444 0.15 0.26 0.32 0.56 0.67 10.8 8.7 4.9 4.1 Cu/Spain
Griffin Mining Ltd (UK) GFM 2.5 US$1.88 172 $324 0.24 0.24 0.20 0.30 -- 7.7 9.3 6.3 -- Zn/China
Kenmare Resources (UK) KMR 1.5 US$2.83 110 $310 0.18 0.51 0.66 0.54 -- 4.3 4.3 5.2 -- Ti sands/Mozambique
Metals X Ltd (AU) MLX 1.5 AUD$0.69 612 $311 0.11 0.06 0.15 0.20 0.24 11.0 4.5 3.4 2.8 Sn, Ni/Australia
Nevada Copper Corp (CN) NCU 2.0 US$0.45 638 $286 (0.07) (0.04) (0.02) 0.00 0.05 -- -- -- 9.0 Cu/US
PolyMet Mining Corp PLM 2.0 US$0.89 320 $285 (0.05) (0.03) (0.03) 0.09 -- -- -- 10.0 -- Cu, Ni/US
SolGold PLC (UK) SOLG 2.0 AUD$0.41 1696 $522 -- -- -- -- -- -- -- -- -- Cu, Au/Ecuador
Taseko Mines Ltd TGB 2.4 C$1.35 227 $233 0.18 0.04 0.23 0.19 0.18 32.1 5.9 7.1 7.5 Cu/Canada, US
Trevali Mining Corp (CN) TV 1.8 C$0.59 831 $486 0.07 0.20 0.20 0.17 0.11 2.9 2.9 3.5 5.3 Zn, Pb, Cu, Ag/Canada, Peru
Average                     10.9 6.4 6.4 6.5  
Micro-Cap Base Metals
Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
  Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Adventus Zinc Corp (CN) EOX 1.0 C$0.90 57 $39 -- -- -- -- -- -- -- -- -- Cu, Zn/Ecuador
Atico Mining Corp (CN) ATY 1.5 US$0.38 99 $40 0.03 0.03 0.02 0.02 (0.01) 12.7 19.0 19.0 -- Cu, Au/Colombia
Amerigo Resources Ltd (CN) ARG 2.0 US$0.71 177 $127 0.04 0.06 0.02 -- -- 11.9 39.7 -- -- Cu/Chile
Ascendant Resources (CN) ASND 1.9 C$0.66 75 $49 (0.17) 0.30 0.31 0.19 0.24 2.2 2.1 3.4 2.8 Zn, Pb/Honduras
Copper Mountain Mining (CN) CMMC 2.3 C$1.18 186 $167 0.19 0.17 0.27 0.30 0.60 6.8 4.4 3.9 2.0 Cu, Au/Canada
Cornerstone Capital Res (CN) CGP 2.0 C$0.17 632 $77 -- -- -- -- -- -- -- -- -- Cu, Au/Ecuador
Entrée Resources Ltd. ETG 3.0 US$0.46 174 $79 (0.02) (0.00) (0.01) (0.01) -- -- -- -- -- Cu, Au/Mongolia
Euromax Resources Ltd (CN) EOX -- C$0.20 165 $25 -- -- -- -- -- -- -- -- -- Cu, Au/Macedonia
Excelsior Mining Corp (CN) MIN 2.0 US$0.78 206 $160 (0.06) (0.09) (0.03) 0.15 0.01 -- -- 5.2 78.3 Cu/US
Fortune Minerals Ltd (CN) FT 2.0 C$0.16 338 $41 -- -- -- -- -- -- -- -- -- Co, Bi, Au/Canada
General Moly  GMO 2.0 US$0.43 128 $55 (0.07) (0.09) (0.09) -- -- -- -- -- -- Mo/US  
Mineral Deposits Ltd (AU) MDL 2.0 US$1.30 197 $256 (0.12) 0.02 0.02 0.02 -- 56.5 56.5 56.5 -- Ti sands/Senegal
Nautilus Minerals (CN) NUS -- US$0.11 684 $75 -- -- -- -- -- -- -- -- -- seafloor Cu, Pb, Zn, Au, Ag/PNG
NGEx Resources Inc (CN) NGQ 2.0 C$1.06 228 $183 (0.04) (0.02) (0.17) (0.08) -- -- -- -- -- Cu, Au/Chile, Canada
Niocorp Developments Ltd (CN) NB 2.0 C$0.51 213 $108 (0.06) (0.06) -- -- -- -- -- -- -- Nb/US
Northern Dynasty Minerals NAK 2.3 C$0.68 312 $161 (0.22) (0.04) (0.04) (0.05) (0.05) -- -- -- -- Cu, Au/US
Panoramic Resources Ltd (AU) PAN 2.0 AUD$0.55 492 $201 (0.02) (0.01) (0.01) 0.00 -- -- -- NM -- Ni/Australia
Royal Nickel (CN) RNC 2.5 C$0.11 363 $30 (0.07) 0.03 0.05 0.06 0.06 3.7 2.2 1.8 1.8 Ni/Canada
Tinka Resources Ltd (CN) TK 1.7 C$0.49 251 $94 (0.01) (0.00) 0.09 -- -- -- 5.6 -- -- Zn/Peru
Western Copper Corp WRN 2.0 C$1.08 100 $82 (0.03) (0.03) (0.03) -- -- -- -- -- -- Cu/Canada
Average                     13.3 12.2 9.8 12.0  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson Reuters database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Reuters Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0)  Source: Thomson Reuters, company reports.
Small-Cap Gold Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Asanko Gold AKG 2.5 US$1.12 226 $254 0.03 (0.01) (0.07) (0.09) 0.08 -- -- -- 15.0 Au/Ghana
Atlantic Gold Corp (CN) AGB 2.0 C$1.93 224 $311 (0.03) 0.15 0.22 0.19 0.16 13.0 8.9 9.9 11.9 Au/Canada
Aureus Mining Inc (UK) AUE 1.0 US$3.53 82 $330 (0.51) 0.69 0.50 1.13 -- 5.1 7.1 3.1 -- Au/Liberia, Sierra Leone
Continental Gold Ltd (CN) CNL 1.8 US$2.85 188 $537 (0.05) (0.05) (0.11) 0.25 0.30 -- -- 11.4 9.5 Au/Colombia
Corvus Gold (CN) KOR 2.0 C$2.58 106 $208 (0.08) (0.09) -- -- -- -- -- -- -- Au/US
Dacian Gold Ltd (AU) DCN 2.2 AUD$2.90 206 $442 (0.09) 0.15 0.39 0.41 0.37 19.9 7.5 7.0 7.8 Au/Australia
Dundee Precious Metals (CN) DPM 2.0 US$2.25 178 $402 0.09 0.08 0.32 0.40 0.44 28.1 7.1 5.6 5.1 Au/Bulgaria
Equinox Gold Corp (CN) EQX 2.0 US$0.80 447 $357 (0.11) (0.02) (0.00) 0.04 0.06 -- -- 18.4 14.5 Au/Brazil, US
Golden Star Resources GSS 2.4 US$0.67 636 $360 0.12 0.09 0.19 0.17 0.17 7.1 3.6 4.0 3.9 Au/Ghana
Gold Road Resources Ltd (AU) GOR 2.0 AUD$0.74 877 $478 (0.01) 0.03 0.08 0.07 0.05 25.2 8.8 10.5 14.7 Au/Australia
Gold Standard Ventures GSV 2.0 C$1.90 254 $367 (0.03) (0.03) (0.03) (0.03) -- -- -- -- -- Au/US
Highland Gold Mining Ltd (UK) HGM 2.0 US$1.78 325 $580 0.20 0.24 0.23 0.26 -- 7.6 7.8 6.9 -- Au/Russia
Leagold Mining Corp (CN) LMC 1.7 US$1.91 284 $542 0.10 0.43 0.59 0.72 0.53 4.4 3.2 2.6 3.6 Au/Mexico
Lundin Gold Inc (CN) LUG 2.0 US$3.78 213 $807 (0.20) (0.14) (0.21) 0.33 0.35 -- -- 11.5 10.7 Au/Ecuador
Maverix Metals (CN) MMX 2.0 C$2.10 214 $333 0.02 0.04 0.06 0.06 0.03 52.5 38.2 37.1 70.0 Au royalties
NovaGold Resources Inc NG 2.3 US$4.28 323 $1,380 (0.12) (0.07) (0.09) -- -- -- -- -- -- Au/US, Canada
Osisko Mining Corp (CN) OSK 2.0 C$2.14 208 $338 (0.23) (0.07) (0.07) (0.08) 0.77 -- -- -- 2.8 Au/Canada
Premier Gold Mines Ltd (CN) PG 2.0 C$2.67 203 $411 0.11 0.00 (0.01) (0.05) 0.28 NM -- -- 9.7 Au/Canada, US
Pan African Resources (UK) PAF 1.5 GBP$0.08 2235 $225 0.01 0.01 0.02 0.01 -- 7.5 5.0 5.2 -- Au/Mozambique, South Africa
Petropavlovsk PLC (UK) POG 2.7 US$0.10 3304 $322 0.02 0.02 0.03 0.04 -- 6.5 3.3 2.4 -- Au/Russia
Ramelius Resources Ltd (AU) RMS 1.3 AUD$0.57 529 $221 0.06 0.10 0.09 0.05 -- 5.9 6.1 10.4 -- Au/Australia
Resolute Mining Ltd (AU) RSG 1.6 AUD$1.32 741 $724 0.12 0.12 0.18 0.22 -- 11.3 7.1 5.9 -- Au/Tanzania, Australia
Roxgold Inc (CN) ROXG 1.9 C$0.84 374 $315 0.08 0.10 0.13 0.12 0.11 8.6 6.5 7.0 7.6 Au/Burkina Faso
Sandstorm Gold Ltd (CN) SAND 2.0 US$4.41 184 $812 0.05 0.07 0.09 0.10 0.07 63.0 48.4 45.4 67.8 Au production stream financing
Saracen Mineral Holdings (AU) SAR 3.1 AUD$2.11 818 $1,278 0.07 0.12 0.16 0.13 -- 16.9 13.1 16.3 -- Au/Australia
Seabridge Gold SA 2.0 C$14.94 59 $677 -- -- -- -- -- -- -- -- -- Au/Canada
Silver Lake Resources (AU) SLR 2.0 AUD$0.60 506 $223 0.03 0.06 0.07 0.07 0.07 10.5 8.3 8.0 9.0 Au/Australia
Teranga Gold Corp (CN) TGZ 1.8 US$3.36 107 $361 0.30 0.25 0.21 0.62 0.21 13.7 16.0 5.4 16.2 Au/Senegal
Tmac Resources Inc (CN) TMR 2.6 C$6.62 92 $462 (0.29) 0.01 0.74 1.02 0.51 NM 9.0 6.5 13.0 Au/Canada
Wesdome Gold Mines Ltd (CN) WDO 1.6 C$3.27 134 $334 0.05 0.14 0.21 0.42 0.47 22.7 15.4 7.8 7.0 Au/Canada
Average                     17.3 11.5 10.8 15.8  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson Reuters database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Reuters Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0)  Source: Thomson Reuters, company reports.
Micro-Cap Gold Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Alio Gold ALO 2.4 US$1.44 84 $121 0.34 0.26 0.33 0.30 0.32 5.5 4.4 4.8 4.5 Au/Mexico, US
Almaden Minerals Ltd (CN) AMM 2.0 C$0.94 102 $73 -- (0.07) 0.23 -- -- -- 4.1 -- -- Au, Ag/Mexico
ATAC Resources Ltd (CN) ATC 2.0 C$0.53 147 $65 (0.03) (0.01) (0.01) (0.02) -- -- -- -- -- Au/Canada
Auryn Resources Inc (CN) AUG 1.8 C$1.48 86 $97 (0.08) (0.06) (0.05) (0.02) -- -- -- -- -- Au/Canada
Balmoral Resources Ltd (CN) BAR 2.0 C$0.19 139 $19 (0.03) (0.06) (0.05) -- (0.02) -- -- -- -- Au/Canada
Barkerville Gold Mines (CN) BGM 1.8 C$0.47 440 $158 (0.16) (0.05) (0.03) (0.05) (0.01) -- -- -- -- Au/Canada
Beadell Resources Ltd (AU) BDR 1.8 AUD$0.05 1443 $55 (0.08) (0.01) 0.02 0.01 0.01 -- 2.2 4.0 5.1 Au/Brazil
Belo Sun Mining (CN) BSX 2.8 C$0.24 466 $83 (0.03) (0.02) (0.03) 0.11 0.02 -- -- 2.1 11.8 Au/Brazil
Blackham Resources Ltd (AU) BLK -- AUD$0.07 1266 $64 -- -- -- 0.06 -- -- -- 1.2 -- Au?australia
Cardinal Resources Ltd (AU) CDV 1.7 AUD$0.47 374 $130 (0.04) (0.02) 0.03 0.10 -- -- 17.9 4.9 -- Au/Ghana
Columbus Gold Corp (CN) CGT 2.0 C$0.24 159 $29 (0.03) (0.02) (0.02) -- -- -- -- -- -- Au/French Guiana
Doray Minerals (AU) DRM 2.0 AUD$0.35 447 $114 (0.01) 0.01 0.03 -- -- 62.7 11.3 -- -- Au/Australia
DRDGold Ltd (ADR) DROOY 5.0 ZAR$3.32 431 $108 0.08 0.15 -- -- -- 22.1 -- -- -- Au/South Africa
Eastern Goldfields Ltd (AU) EGS 4.0 AUD$0.12 762 $68 (0.03) 0.01 0.04 -- -- 16.0 2.8 -- -- Au/Australia
Eastmain Resouces Inc (CN) ER 2.0 C$0.21 222 $35 (0.01) (0.03) (0.03) (0.02) 0.02 -- -- -- 10.4 Au/Canada
Erdene Resource Develop.(CN) ERD 2.0 C$0.38 324 $90 -- -- -- -- -- -- -- -- -- Au/Mongolia
Falco Resources Ltd (CN) FPC 1.9 C$0.53 189 $79 (0.05) (0.05) (0.01) 0.08 0.21 -- -- 6.3 2.6 Au/Canada
First Mining Finance (CN) FF 2.0 C$0.42 557 $178 (0.02) (0.02) (0.02) (0.01) -- -- -- -- -- Au/Canada
Goldmining Inc. (CN) GOLD 2.0 C$0.94 135 $97 (0.06) (0.05) -- -- -- -- -- -- -- Au/Brazil, US
Goldquest Mining Corp (CN) GQC 2.7 C$0.19 255 $39 (0.04) (0.03) (0.03) (0.05) (0.05) -- -- -- -- Au, Cu/Dominican Republic
Harte Gold Corp (CN) HRT 2.0 C$0.35 575 $153 (0.00) (0.01) (0.00) 0.09 0.07 -- -- 4.1 5.0 Au/Canada
IDM Mining Ltd (CN) IDM 2.0 C$0.07 449 $22 -- -- -- -- -- -- -- -- -- Au/Canada
Jaguar Mining (CN) JAG 2.0 US$0.25 325 $82 (0.05) 0.04 0.07 0.10 -- 6.3 3.6 2.5 -- Au/Brazil
K92 Mining (CN) KNT 1.7 US$0.74 179 $140 (0.04) 0.08 0.17 0.36 0.32 9.6 4.3 2.0 2.3 Au/PNG
Liberty Gold Corp (CN) LGD 2.2 US$0.33 177 $58 (0.08) (0.05) (0.05) 0.20 (0.03) -- -- 1.6 -- Au/US, Turkey
Lion One Metals Ltd (CN) LIO 2.0 C$0.55 102 $44 -- -- -- -- -- -- -- -- -- Au/Fiji
Lydian International (CN) LYD 1.8 US$0.24 755 $178 (0.01) (0.00) 0.08 0.13 0.15 -- 2.9 1.8 1.5 Au/Armenia
Mandalay Resources (CN) MND 2.0 US$0.15 452 $67 (0.02) (0.01) 0.01 0.02 0.01 -- 14.8 7.4 -- Au, Ag/Sweden, Australia, Chile
Marathon Gold Corp (CN) MOZ 2.0 C$0.91 151 $104 (0.03) (0.04) (0.05) (0.05) (0.02) -- -- -- -- Au/Canada
Marlin Gold Mining Co (CN) MLN 2.0 C$0.25 172 $36 (0.14) (0.13) (0.01) (0.01) 0.00 -- -- -- -- Au/Mexico
Medusa Mining Ltd (AU) MML 2.0 US$0.35 208 $73 0.10 0.13 0.16 -- -- 2.6 2.3 -- -- Au/Philippines
Midas Gold Corp (CN) MAX 2.2 US$0.70 234 $164 (0.15) (0.05) (0.04) (0.05) -- -- -- -- -- Au/US
Millenium Minerals Ltd (AU) MOY 2.0 AUD$0.21 792 $120 (0.00) 0.01 0.02 -- -- 25.6 10.8 -- -- Au/Australia
Nighthawk Gold Corp (CN) NHK 2.3 C$0.42 194 $62 (0.02) (0.03) (0.05) (0.09) -- -- -- -- -- Au/Canada
Northern Empire Res (CN) NM 1.5 C$1.20 66 $59 (0.03) -- -- -- -- -- -- -- -- Au/US
Orca Gold (CN) ORG 2.0 C$0.57 178 $83 (0.12) (0.06) (0.04) (0.03) -- -- -- -- -- Au/Sudan
Orezone Gold Corp (CN) ORE 1.8 US$0.61 210 $129 (0.06) (0.04) (0.02) (0.01) 0.08 -- -- -- 8.1 Au/Bukina Faso
Orla Mining Ltd (CN) OLA 2.0 C$1.43 179 $195 (0.10) (0.05) (0.06) 0.01 0.31 -- -- NM 4.6 Au/Panama
Otis Gold Corp (CN) OOO 2.0 C$0.18 162 $22 -- -- -- -- -- -- -- -- -- Au/US
Pantoro Ltd (AU) PNR 1.0 AUD$0.32 789 $184 0.00 0.05 0.07 0.07 -- 6.7 4.5 4.5 -- Au/Australia
Pershing Gold Corp PGLC 2.0 US$1.75 34 $59 (0.50) (0.45) 0.13 0.47 -- -- 14.0 3.7 -- Au/US
Pure Gold Mining Inc (CN) PGM 1.8 C$0.66 236 $122 (0.14) (0.10) (0.07) (0.06) -- -- -- -- -- Au/Canada
Rupert Resources Ltd (CN) RUP -- C$0.87 107 $73 -- -- -- -- -- -- -- -- -- Au/Finland
Taung Gold International (HK) 621 -- HK$0.04 18151 $86 -- -- -- -- -- -- -- -- -- Au/South Africa
Terrax Minerals Inc (CN) TXR -- C$0.35 111 $30 -- -- -- -- -- -- -- -- -- Au/Canada
Treasury Metals (CN) TML 2.0 C$0.46 135 $47 (0.03) (0.08) (0.03) (0.08) 0.12 -- -- -- 3.8 Au/Canada
Trimetals Mining (CN) TMI -- US$0.07 -- -- -- -- -- -- -- -- -- Au/US
Troy Resources (AU) TRY -- AUD$0.16 460 $53 -- -- -- -- -- -- -- -- -- Au/Australia
Victoria Gold Corp (CN) VIT 2.0 C$0.35 777 $207 (0.01) 0.07 0.23 0.36 -- 4.7 1.5 1.0 -- Au/Canada
West African Resources Ltd (CN) WAF 2.0 AUD$0.34 691 $192 (0.03) (0.02) 0.01 0.16 0.26 -- 31.7 2.2 1.3 Au/Burkina Faso
Average                     16.2 8.3 3.4 5.1  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson Reuters database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Reuters Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0)  Source: Thomson Reuters, company reports.
Silver Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Alexco Resource Corp AXU 1.7 C$1.76 102 $137 (0.08) -- -- -- -- -- -- -- -- Ag/Canada
Avino Silver & Gold Mines (CN) ASM 2.0 US$1.19 56 $66 0.05 0.13 0.18 0.15 0.17 9.4 6.7 7.9 7.0 Ag, Au/Mexico
Bear Creek Mining Corp (CN) BCM 1.5 US$1.42 103 $146 0.17 (0.07) (0.05) (0.07) 0.31 -- -- -- 4.6 Ag/Peru
GoGold Resources Inc (CN) GGD 2.0 US$0.33 172 $56 0.02 0.15 -- -- -- 2.2 -- -- -- Ag, Au/Mexico
Great Panther Silver Ltd GPL 2.0 C$1.46 168 $187 0.01 0.05 0.10 -- -- 28.8 14.2 -- -- Ag/Mexico
Sabina Gold & Silver Corp (CN) SBB 2.1 C$1.56 263 $312 (0.03) (0.02) (0.01) (0.03) 0.17 -- -- -- 9.5 Ag, Zn/Canada
Average                     13.5 10.5      
Platinum Group Metals                            
Eastern Platinum Ltd (CN) ELR -- US$0.26 93 $24 -- -- -- -- -- -- -- -- -- Pt/South Africa
Platinum Group Metals Ltd PLG 5.0 C$0.10 283 $29 (1.69) (3.90) -- -- -- -- -- -- -- Pt/South Africa
Wesizwe Platinum Ltd (SA) WEZ 5.0 ZAR$0.47 1628 $58 (0.06) (0.24) (0.23) -- -- -- -- -- -- Pt/South Africa
Average                              
Diamonds & Gems Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Firestone Diamonds PLC (UK) FDI 1.8 US$0.07 516 $36 (0.00) (0.02) (0.01) -- 0.03 -- -- -- 2.6 diamonds/Lesotho
Gem Diamonds Ltd (UK) GEMD 1.9 US$1.54 139 $214 0.06 0.25 0.14 0.15 -- 6.1 11.1 10.2 -- diamonds/Lesotho
Lucapa Diamond Co Ltd (AU) LOM 2.0 US$0.19 462 $89 0.00 0.00 0.00 0.03 -- -- -- 7.1 -- diamonds/Angola, Lesotho
Average                     6.1 11.1 8.6 2.6  
Specialty Metals
                             
Advantage Lithium Corp (CN) AAL 1.8 C$0.87 142 $88 (0.04) -- -- -- -- -- -- -- -- Li/Argentina
Alkane Resources Ltd (AU) ALK -- AUD$0.21 506 $77 (0.03) -- -- -- -- -- -- -- -- Zr, Nb, REE/Australia
Galaxy Resources Ltd (AU) GXY 2.0 AUD$3.28 407 $990 0.03 0.12 0.14 0.11 -- 27.8 22.7 31.2 -- Li/Australia
Lithium Americas Corp (CN) LAC 1.6 US$5.17 89 $458 (0.19) (0.29) (0.08) 0.21 0.00 -- -- 24.6 -- Li, clay/US. Argentina
Lynas Corp Ltd (AU) LYC 1.0 AUD$2.10 663 $1,033 0.12 0.22 -- -- -- 9.5 -- -- -- REE/Australia, Malaysia
Nemaska Lithium (CN) NMX 1.8 C$0.84 846 $540 (0.02) (0.03) (0.00) 0.05 0.12 -- -- 17.6 7.1 Li/Canada
Average                     18.7 22.7 24.4 7.1  
Uranium Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 13-Jul-18 (MM) (US$MM) 2017 2018E 2019E 2020E 2021E 2018E 2019E 2020E 2021E Commodity/Country
Berkeley Resources Ltd (AU) BKY 2.5 AUD$0.78 258 $149 (0.04) (0.02) 0.08 -- -- -- 9.8 -- -- U/Spain
Energy Fuels (CN) EFR 1.7 US$2.33 78 $183 (0.36) (0.19) (0.32) (0.05) -- -- -- -- -- U/US
Fission Uranium Corp (CN) FCU 1.8 C$0.68 486 $251 (0.01) (0.01) (0.01) -- -- -- -- -- -- U/Canada
Nexgen Energy Ltd (CN) NXE 1.9 C$2.52 344 $660 (0.08) (0.09) (0.06) (0.08) (0.05) -- -- -- -- U/Canada
Paladin Resources Ltd (AU) PDN -- US$0.13 1713 $223 -- (0.03) (0.01) -- -- -- -- -- -- U/Namibia
Toro Energy Ltd (AU) TOE 3.0 AUD$0.03 2161 $41 -- -- -- -- -- -- -- -- -- U/Australia
UEX Corp (CN) UEX 1.0 C$0.24 348 $63 (0.02) (0.02) -- -- -- -- -- -- -- U/Canada
Ur-Energy Inc  URG 1.7 US$0.68 147 $99 0.00 (0.02) (0.02) (0.02) -- -- -- -- -- U/US
Uranium Energy Corp  UEC 1.7 US$1.60 160 $257 (0.14) (0.10) (0.01) 0.08 0.13 -- -- 20.4 12.5 U/US
Average                       9.8 20.4 12.5  
Fertilizers                              
Arianne Phosphate (CN) DAN -- C$0.50 106 $41 -- -- -- -- -- -- -- -- -- phosphate/Canada
Intrepid Potash IPI 3.0 US$4.00 131 $524 (0.18) 0.12 0.14 0.09 -- 33.3 28.2 42.9 -- potash/US
Sirius Minerals PLC (UK) SXX 1.7 GBP$0.33 4700 $2,079 (0.02) 0.00 (0.00) (0.01) -- NM -- -- -- potash/UK
Average                     33.3 28.2 42.9    
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson Reuters database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Reuters Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0)  Source: Thomson Reuters, company reports.
Recent Commodity Prices
Cash Price (13-Jul-18)
Aluminum ($0.95 / lb)
Cobalt ($31.98 / lb)
Copper ($2.80 / lb)
Lead ($0.98 / lb)
Molybdenum ($11.79 / lb)
Nickel ($6.29 / lb)
Tin ($8.97 / lb)
Zinc ($1.18 / lb)
Gold ($1241 / oz)
Palladium ($826 / oz)
Platinum ($932 / oz)
Silver ($15.79 / oz)
Uranium ($22.85 / lb)
Base metal prices are LME cash prices quoted in US$ per lb.  Precious metal prices are London spot prices quoted in US$ per oz.   

Bill Matlack is associated with Scarsdale Equities LLC, a registered broker/dealer and member FINRA, SIPC.

William Matlack
Scarsdale Equities LLC
10 Rockefeller Plaza - Suite 720
New York, NY 10020
(646) 775-4829
wmatlack@scarsdale-equities.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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