1. Kitco Metals Inc.
  2. Commentary Archive
  3. Bio

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

Iron Ore Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
African Minerals (CN) AMI 3.3 US$0.16 332 $52 (0.25) (0.26) (0.19) (0.25) 0.12 -- -- -- 1.3 Fe ore/Sierra Leone
Alderon Iron Ore Corp AXX 2.0 C$0.29 130 $33 (0.09) (0.07) (0.14) (0.16) (0.01) -- -- -- -- Fe ore/Canada
Atlas Iron Ltd (AU) AGO 3.4 AUD$0.14 919 $103 -- -- (0.09) (0.07) 0.01 -- -- -- 19.8 Fe ore/Australia
Brockman Resources Ltd (AU) BRM 2.0 AUD$0.27 8382 $292 -- -- (0.01) -- -- -- -- -- -- Fe ore/Australia
Equatorial Resources Ltd (CN) EQX 2.0 AUD$0.25 124 $25 -- -- -- -- -- -- -- -- -- Fe ore/Republic of Congo
Gindalbie Metals (AU) GBG 4.0 AUD$0.02 1495 $26 -- -- (0.03) -- -- -- -- -- -- Fe ore/Australia
Grange Resources Ltd (AU) GRR 3.0 AUD$0.09 1157 $89 0.02 0.04 (0.02) (0.02) -- 2.6 -- -- -- Fe ore/Australia
IRC Ltd (HK) 1029 2.8 US$0.07 4860 $345 (0.01) (0.02) 0.00 0.02 -- -- NM 4.7 -- Fe ore/Russia
MMX Mineracao E Metalicos (BZ) MMXM3 -- BRL$0.52 162 $32 (2.26) -- -- -- -- -- -- -- -- Fe ore/Brazil
New Millenium Iron Corp (CN) NML 3.0 C$0.18 181 $28 (0.04) (0.03) 0.05 0.01 -- -- 3.9 13.5 -- Fe ore/Canada
Sundance Resources Ltd (AU) SDL 2.3 AUD$0.03 3082 $77 -- -- (0.00) (0.00) -- -- -- -- -- Fe ore/Cameroon
Average                     2.6 3.9 9.1 19.8  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Small-Cap Base Metals
Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
  Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
Anglo Pacific Group PLC (UK) APF 2.4 GBP$0.91 116 $166 8.39 0.01 0.05 14.23 -- 87.6 16.9 6.4 -- Royalties
Copper Mountain Mining (CN) CUM 2.1 C$1.49 119 $154 0.14 0.20 0.38 0.45 0.51 7.3 3.9 3.3 2.9 Cu, Au/Canada
Katanga Mining Ltd (CN) KAT 3.0 US$0.31 1907 $588 0.05 0.01 0.11 0.15 -- 30.8 2.8 2.1 -- Cu, Co/DR Congo
Kenmare Resources (UK) KMR 2.1 US$0.05 2782 $129 (0.02) (0.02) 0.00 0.02 -- -- 17.4 2.3 -- Ti sands/Mozambique
Largo Resources (CN) LGO 1.7 C$1.82 109 $173 (0.10) (0.05) 0.21 0.38 0.37 -- 8.9 4.9 5.0 V/Brazil
Metals X Ltd (AU) MLX 1.3 AUD$0.64 414 $222 -- -- 0.15 0.20 -- -- 4.3 3.2 -- Sn, Ni/Australia
Nautilus Minerals (CN) NUS 2.0 US$0.43 445 $193 (0.06) (0.03) (0.03) (0.02) -- -- -- -- -- seafloor Cu, Pb, Zn, Au, Ag/PNG
NGEx Resources Inc (CN) NGQ 1.8 C$0.98 187 $159 (0.17) (0.12) (0.12) (0.11) -- -- -- -- -- Cu, Au/Chile, Canada
OM Holdings Ltd (AU) OMH 2.0 AUD$0.34 733 $207 (0.07) (0.05) 0.02 0.06 0.07 -- 20.0 5.4 5.1 Mn/Australia
PolyMet Mining Corp PLM 2.0 C$1.21 276 $291 -- (0.03) (0.02) (0.02) -- -- -- -- -- Cu, Ni/US
Reservoir Minerals (CN) RMC 1.7 C$3.80 48 $158 (0.12) (0.17) (0.09) (0.11) -- -- -- -- -- Cu, Au/Serbia
Sierra Metals (CN) SMT 2.0 C$1.69 160 $235 (0.17) 0.04 0.18 0.21 0.04 44.7 9.5 7.9 42.3 Ag, Cu, Pb, Zn/Mexico, Peru
Sirius Resources NL (AU) SIR 1.7 AUD$2.37 341 $673 -- -- (0.06) 0.04 0.66 -- -- 55.1 3.6 Ni, Cu/Australia
Trevali Mining Corp (CN) TV 1.8 C$1.00 281 $245 (0.07) 0.02 0.11 0.20 0.21 57.0 9.5 5.1 4.8 Zn, Pb, Cu, Ag/Canada, Peru
Xinjiang Xinxin Mining (HK) 3833 2.0 CNY$1.17 759 $144 (0.03) 0.09 0.09 0.10 -- 13.5 12.9 12.4 -- Ni, Cu, Co/China
Average                     40.2 10.6 9.8 10.6  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Micro-Cap Base Metals
Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
  Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
Aditya Birla Minerals Ltd (AU) ABY 4.0 AUD$0.20 313 $52 -- -- (0.13) (0.11) -- -- -- -- -- Cu/Australia
Altona Mining Ltd (AU) AOH 3.5 AUD$0.23 535 $105 -- -- 0.01 (0.02) -- -- 31.3 -- -- Cu, Ni/Finland, Australia
Amerigo Resources Ltd (CN) ARG 1.5 US$0.25 174 $44 0.01 (0.07) 0.09 0.07 0.33 -- 3.0 3.6 0.8 Cu/Chile
Argex Titanium (CN) RGX 2.0 C$0.55 143 $69 -- -- -- (0.01) 0.08 -- -- -- 6.9 Ti/Canada
Atico Mining Corp (CN) ATY 1.6 C$0.62 98 $53 0.01 0.01 0.09 0.11 0.11 48.2 7.1 5.4 5.9 Cu, Au/Colombia
Blackthorn Resources Ltd (AU) BTR 2.0 AUD$0.21 164 $29 -- -- (0.02) -- -- -- -- -- -- Zn/Burkina Faso
China Mining Resources (HK) 340 -- HK$0.08 9139 $90 -- -- -- -- -- -- -- -- -- Mo/China
EMED Mining Public Co (CN) EMD 1.0 C$0.09 1440 $107 (0.02) (0.01) (0.00) 0.00 0.03 -- -- -- 2.5 Cu/Spain
Entrée Gold EGI 3.0 C$0.22 147 $28 (0.08) -- -- -- -- -- -- -- -- Cu, Au/Mongolia
Fortune Minerals (CN) FT 2.0 C$0.14 215 $27 -- -- -- -- -- -- -- -- -- anthracite, Au, Bi, Co/Canada
General Moly  GMO 3.0 US$0.40 92 $37 (0.24) (0.12) (0.13) -- -- -- -- -- -- Mo/US  
Griffin Mining Ltd (UK) GFM 1.5 GBP$0.32 179 $91 0.02 0.01 0.07 11.01 -- 23.0 5.0 2.9 -- Zn/China
Hillgrove Resources Ltd (AU) HGO 1.5 AUD$0.46 148 $56 -- 0.06 0.08 0.09 0.09 8.1 5.5 5.1 5.2 Cu, Au/Australia, Indonesia
Ivernia IVW 1.0 US$0.07 801 $59 (0.07) 0.00 0.05 0.06 0.06 -- 1.6 1.2 1.2 Pb/Australia
Mincor Resources NL (AU) MCR 2.0 AUD$0.59 188 $92 -- -- 0.10 0.11 0.13 -- 6.1 5.2 4.6 Ni, Au/Australia
Mineral Deposits Ltd (AU) MDL 2.0 US$0.62 104 $64 0.14 (0.16) (0.14) 0.30 0.40 -- -- 2.1 1.6 Ti sands/Senegal
Nevada Copper Corp (CN) NCU 1.8 C$1.54 81 $108 -- (0.10) (0.00) 0.38 -- -- -- 4.0 -- Cu/US
Northern Dynasty Minerals NAK 3.0 C$0.43 95 $36 (0.08) (0.26) (0.03) (0.09) -- -- -- -- -- Cu, Au/US
Orbite Aluminae Inc (CN) ORT 2.0 C$0.25 320 $71 (0.08) (0.05) (0.05) 0.00 -- -- -- -- -- bauxite/Canada
Panoramic Resources Ltd (AU) PAN 2.0 AUD$0.35 322 $95 -- -- 0.10 0.10 0.04 -- 3.7 3.7 9.9 Ni/Australia
Rex Minerals Ltd (AU) RXM 3.5 AUD$0.10 221 $18 -- -- (0.02) (0.02) (0.02) -- -- -- -- Cu/Australia
Royal Nickel (CN) RNC 1.7 C$0.32 110 $31 (0.07) (0.08) (0.03) (0.04) 0.25 -- -- -- 1.3 Ni/Canada
Wellgreen Platinum Corp (CN) WG 1.3 C$0.71 109 $67 -- (0.16) (0.16) -- -- -- -- -- -- Ni, Cu, Pt, Pd/Canada
Western Copper Corp WRN 2.5 C$0.61 94 $50 (0.01) (0.02) (0.04) (0.04) -- -- -- -- -- Cu/Canada
Zazu Metals Corp (CN) ZAZ 1.5 US$0.32 48 $15 (0.04) (0.04) (0.02) (0.01) (0.01) -- -- -- -- Zn,Pb, Ag/US
Average                     26.4 7.9 3.7 4.0  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Small-Cap Gold Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
Asanko Gold AKG 1.9 C$1.90 172 $285 (0.04) (0.12) (0.08) 0.21 0.16 -- -- 9.2 11.9 Au/Ghana
Beadell Resources Ltd (AU) BDR 2.1 AUD$0.21 799 $139 0.14 0.09 0.07 0.07 0.07 2.5 3.1 3.0 3.1 Au/Brazil
Continental Gold Ltd (CN) CNL 1.9 US$1.74 127 $222 (0.14) (0.07) (0.12) (0.10) (0.07) -- -- -- -- Au/Colombia
Endeavour Mining Corp (CN) EDV 1.9 US$0.37 413 $154 (0.08) 0.02 (0.01) 0.11 0.07 19.8 -- 3.6 5.7 Au/Mali, Ghana, Burkina Faso
Evolution Mining Ltd (AU) EVN 3.2 AUD$0.57 715 $342 -- -- 0.09 0.08 0.05 -- 6.5 7.4 12.2 Au/Australia
G-Resources Group Ltd (HK) 1051 2.0 US$0.03 26490 $670 -- 0.00 0.00 0.00 -- 12.6 12.6 12.6 -- Au/Indonesia
Gabriel Resources Ltd (CN) GBU 3.3 C$0.45 384 $151 (0.01) (0.02) (0.02) (0.03) (0.03) -- -- -- -- Au/Romania
Guyana Goldfields Inc (CN) GUY 1.9 C$2.61 150 $342 (0.10) (0.05) 0.10 0.31 -- -- 27.0 8.4 -- Au/Guyana
Highland Gold Mining Ltd (UK) HGM 2.0 US$0.44 325 $145 0.17 0.17 0.15 0.15 0.09 2.6 2.9 3.0 5.0 Au/Russia
Kingsgate Consolidated Ltd (AU) KCN 3.8 AUD$0.67 224 $125 -- -- (0.00) 0.01 (0.07) -- -- NM -- Au/Thailand, Australia
Klondex Mines Ltd (CN) KDX 1.8 C$1.90 121 $201 (0.08) 0.13 0.30 0.45 0.34 14.8 6.3 4.2 5.6 Au/US
McEwen Mining Inc. UXG 2.0 US$1.11 270 $300 (0.01) (0.01) 0.03 -- -- -- 37.0 -- -- Au, Ag, Cu/Mexico, US, Argentina
Northern Star Resources (AU) NST 1.7 AUD$1.25 592 $613 -- -- 0.25 0.28 0.16 -- 5.0 4.5 7.8 Au/Australia
Novagold Resources Inc NG 3.0 C$3.13 317 $865 (0.21) -- -- -- -- -- -- -- -- Au/US, Canada
Premier Gold Mines Ltd (CN) PG 1.7 C$1.94 159 $269 0.07 (0.06) (0.06) (0.04) (0.05) -- -- -- -- Au/Canada, US
Pretium Resources PVG 2.1 C$6.92 117 $704 (0.16) (0.12) (0.11) 0.14 (0.06) -- -- 51.2 -- Au, Ag, Cu/Canada
Pan African Resources (UK) PAF 1.8 GBP$0.11 1830 $323 -- -- 0.01 1.78 0.95 -- 7.6 6.3 11.8 Au/Mozambique, South Africa
Probe Mines Ltd (CN) PRB 2.3 C$2.98 91 $236 -- (0.22) (0.23) (0.04) -- -- -- -- -- Au/Canada
Resolute Mining Ltd (AU) RSG 2.5 AUD$0.23 641 $125 -- -- 0.06 0.07 0.04 -- 3.9 3.2 6.7 Au/Tanzania, Australia
Richmont Mines RIC 2.0 C$3.76 48 $157 (0.26) 0.16 0.02 0.29 0.26 23.3 NM 12.8 14.7 Au/Canada
Romarco Minerals Inc (CN) R 1.9 US$0.44 661 $292 (0.02) (0.02) (0.02) (0.00) 0.07 -- -- -- 6.6 Au/US
Rubicon Minerals Corp RBY 2.0 C$0.99 371 $320 (0.03) (0.02) (0.02) 0.10 0.20 -- -- 10.4 4.8 Au/Canada
Sandstorm Gold Ltd (CN) SAND 2.6 US$2.93 118 $345 0.16 0.08 0.05 0.06 0.08 37.5 54.0 51.0 38.3 Au production stream financing
Saracen Mineral Holdings (AU) SAR 2.6 AUD$0.25 793 $162 -- -- 0.06 0.08 -- -- 3.9 2.9 -- Au/Australia
Seabridge Gold SA 1.5 US$7.99 47 $376 (0.29) (0.21) (0.15) -- -- -- -- -- -- Au/Canada
Teranga Gold Corp (CN) TGZ 2.2 US$0.39 353 $136 0.18 0.07 0.14 0.17 0.14 5.8 2.7 2.2 2.8 Au/Senegal
Timmins Gold Corp TGD 2.2 US$1.01 163 $165 0.21 0.10 0.10 0.07 0.06 9.9 10.6 14.7 16.8 Au/Mexico
Virginia Mines Inc (CN) VGQ 3.0 C$13.60 36 $424 -- (0.11) (0.08) 0.14 0.21 -- -- 97.5 64.6 Au/Canada
Average                     14.3 13.1 16.2 13.7  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Micro-Cap Gold Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
Allied Nevada Gold ANV 3.8 US$0.74 126 $93 0.12 (0.53) (0.45) (0.32) (0.03) -- -- -- -- Au. Ag/US
Almaden Minerals Ltd AAU 2.0 C$1.09 69 $65 -- -- -- -- -- -- -- -- -- Au/Mexico
Amara Mining PLC (UK) AMA 1.7 US$0.22 329 $72 (0.08) (0.07) (0.02) (0.02) -- -- -- -- -- Au/Cote d'Ivoire, Burkina Faso
ATAC Resources Ltd (CN) ATC 2.5 C$0.48 118 $49 (0.02) (0.02) (0.02) (0.03) -- -- -- -- -- Au/Canada
Atacama Pacific Gold Corp (CN) ATM 1.5 C$0.40 56 $20 -- -- -- -- -- -- -- -- -- Au/Chile
Aureus Mining Inc (UK) AUE 2.0 US$0.29 311 $89 (0.03) (0.03) 0.01 0.07 -- -- 46.0 4.3 -- Au/Liberia, Sierra Leone
Balmoral Resources Ltd (CN) BAR 2.0 C$1.03 110 $99 -- -- -- -- -- -- -- -- -- Au/Canada
Banro Corp BAA 4.0 US$0.14 252 $35 0.01 (0.03) (0.15) (0.22) -- -- -- -- -- Au/DR Congo
Belo Sun Mining (CN) BSX 2.1 C$0.13 266 $30 (0.12) (0.06) (0.03) (0.03) 0.07 -- -- -- 1.9 Au/Brazil
Brazil Resources (CN) BRI 1.5 C$0.53 73 $33 -- (0.02) (0.02) (0.05) 0.01 -- -- -- 53.0 Au/Brazil
Chesapeake Gold Corp (CN) CKG 2.0 C$1.85 44 $72 (0.16) (0.10) 0.01 (0.06) -- -- NM -- -- Au/Mexico
Doray Minerals (AU) DRM 2.0 AUD$0.36 166 $50 -- -- 0.07 0.09 0.12 -- 5.3 3.9 3.1 Au/Australia
DRDGold Ltd (ADR) DROOY 3.5 ZAR$2.15 385 $72 -- -- 0.07 0.02 -- -- 29.7 NM -- Au/South Africa
Eastmain Resouces Inc (CN) ER 2.0 C$0.22 120 $23 (0.01) (0.01) (0.01) -- -- -- -- -- -- Au/Canada
Exeter Resource Corp XRA 2.0 C$0.75 88 $58 (0.22) -- -- -- -- -- -- -- -- Au/Chile
Gold Canyon Resources (CN) GCU 4.0 C$0.13 149 $17 (0.04) (0.04) (0.03) -- -- -- -- -- -- Au/Canada
Gold Standard Ventures GSV 2.0 C$0.53 124 $57 (0.05) (0.06) (0.06) (0.06) 0.19 -- -- -- 2.7 Au/US
Golden Star Resources GSS 3.4 US$0.22 259 $56 (0.08) (0.09) (0.04) (0.07) (0.02) -- -- -- -- Au/Ghana
Goldrock Mines Corp (CN) GRM 2.5 C$0.23 90 $18 -- (0.03) (0.02) 0.04 -- -- -- 6.7 -- Au/Argentina
Gryphon  Minerals Ltd (AU) GRY 2.2 AUD$0.05 401 $18 -- -- (0.01) 0.01 0.03 -- -- 5.1 1.8 Au/Burkina Faso
Kaminak Gold Corp (CN) KAM 1.8 C$0.69 123 $74 -- (0.17) (0.07) -- -- -- -- -- -- Au/Canada
Lingbao Gold Co Ltd (HK) 3330 3.0 CNY$1.03 297 $50 (0.87) -- 0.06 -- -- -- 18.4 -- -- Au/China
Luna Gold Corp (CN) LGC 3.3 US$0.33 141 $47 0.08 (0.03) (0.04) (0.03) 0.02 -- -- -- 16.5 Au/Brazil
Lydian International (CN) LYD 2.1 GBP$0.00 152 $69 (0.00) (0.00) (0.00) (0.00) 0.28 -- -- -- 1.6 Au/Armenia
Marlin Gold Mining Co (CN) MLN 1.5 CNY$0.53 74 $34 (0.10) (0.04) (0.02) 0.17 0.28 -- -- 3.2 1.9 Au/Mexico
Medusa Mining Ltd (AU) MML 2.0 US$0.62 208 $129 -- -- 0.27 0.27 0.16 -- 2.3 2.3 3.9 Au/Philippines
Midas Gold Corp (CN) MAX 2.0 US$0.39 142 $55 (0.03) (0.03) (0.02) (0.02) (0.02) -- -- -- -- Au/US
Midway Gold Corp MDW 1.7 C$0.84 175 $128 0.00 (0.10) 0.02 0.06 0.16 -- 37.5 13.3 5.2 Au/US
Minera IRL Ltd (UK) MIRL 1.7 US$0.05 231 $12 (0.05) (0.11) (0.03) 0.05 0.09 -- -- 1.1 0.6 Au/Peru, Argentina
Orca Gold (CN) ORG 2.0 C$0.35 107 $33 -- -- -- -- -- -- -- -- -- Au/Sudan
Orezone Gold Corp (CN) ORE 2.1 US$0.43 96 $42 (0.15) (0.11) (0.05) (0.05) (0.05) -- -- -- -- Au/Bukina Faso
Paramount Gold & Silver Corp PZG 1.8 US$0.78 162 $126 -- -- (0.06) -- -- -- -- -- -- Au, Ag/Mexico, US
Petropavlovsk PLC (UK) POG 3.8 US$0.14 198 $27 (0.34) (0.31) (0.19) (0.16) (0.06) -- -- -- -- Au/Russia
Roxgold Inc (CN) ROG 1.8 C$0.48 288 $120 (0.03) (0.03) (0.03) 0.20 0.18 -- -- 2.4 2.7 Au/Burkina Faso
St Barbara Ltd (AU) SBM 2.0 AUD$0.12 494 $47 -- -- 0.01 0.02 (0.02) -- 15.3 6.6 -- Au/Australia
San Gold Corp (CN) SGR 4.5 C$0.05 373 $16 (0.08) (0.08) (0.06) -- -- -- -- -- -- Au/Canada
Silver Lake Resources (AU) SLR 2.7 AUD$0.21 503 $88 -- -- 0.04 0.05 0.06 -- 5.3 4.4 3.3 Au/Australia
Treasury Metals (CN) TML 2.0 C$0.31 74 $20 -- -- -- -- 0.15 -- -- -- 2.1 Au/Canada
Troy Resources (AU) TRY 3.0 AUD$1.14 111 $110 (0.01) 0.09 0.01 0.06 -- 12.7 NM 19.0 -- Au/Australia
True Gold Mining (CN) TGM 1.9 C$0.22 399 $78 (0.14) (0.04) (0.03) 0.10 0.01 -- -- 2.3 22.5 Au/Burkina Faso
Victoria Gold Corp (CN) VIT 2.0 C$0.10 340 $31 -- -- (4.70) (13.85) (15.75) -- -- -- -- Au/Canada
Vista Gold Corp VGZ -- US$0.31 82 $25 (0.68) -- -- -- -- -- -- -- -- Au/Australia, Mexico, US
Wesdome Gold Mines Ltd (CN) WDO 3.0 C$1.14 111 $110 (0.01) 0.09 0.01 0.06 -- 12.7 NM 19.0 -- Au/Canada
Average                     12.7 20.0 6.7 8.2  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Silver Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
Alexco Resource Corp AXU 2.0 C$0.60 70 $36 (0.07) (0.11) (0.00) 0.15 0.16 -- -- 4.1 3.8 Ag/Canada
Aurcana Corp (CN) AUN 4.0 US$0.26 85 $22 -- (0.13) 0.03 0.17 -- -- 8.7 1.5 -- Ag/Mexico, US
Bear Creek Mining Corp (CN) BCM 2.0 US$1.11 93 $103 (0.23) (0.14) (0.07) (0.10) (0.09) -- -- -- -- Ag/Peru
Excellon Resources (CN) EXN 2.0 C$0.57 55 $27 -- (0.02) 0.11 0.13 0.12 -- 5.2 4.4 4.7 Ag, Pb, Zn/Mexico
Mag Silver Corp MVG 2.1 US$6.99 69 $481 (0.49) (0.15) (0.15) (0.10) (0.09) -- -- -- -- Ag/Mexico
Minco Silver Corp (CN) MSV 4.0 C$0.69 60 $36 (0.05) (0.05) (0.08) -- -- -- -- -- -- Ag/China
Sabina Gold & Silver Corp (CN) SBB 2.3 C$0.31 194 $52 (0.05) (0.02) 0.00 -- -- -- -- -- -- Ag, Zn/Canada
SantaCruz Silver Mining Ltd (CN) SCZ 2.0 US$0.31 103 $32 (0.07) (0.05) (0.01) 0.00 0.06 -- -- -- 4.8 Ag/Mexico
Scorpio Mining Corp (CN) SPM 1.0 C$0.22 199 $39 (0.02) (0.01) 0.09 -- -- -- 2.5 -- -- Ag, Zn/Mexico
Silver Bull Resources SVBL 3.0 US$0.14 159 $23 -- -- -- -- -- -- -- -- -- Ag, Zn/Mexico
US Silver & Gold (CN) USA 2.0 C$0.33 81 $23 (0.29) (0.08) (0.03) 0.02 -- -- -- 14.5 -- Ag/US
Wildcat Silver Corp (CN) WS -- C$0.40 148 $51 -- -- -- -- -- -- -- -- -- Ag/US
Average                       5.4 6.1 4.4  
Platinum Group Metals                            
Atlatsa Resources Corp ATL 4.0 C$0.20 554 $99 0.08 (0.06) (0.04) (0.01) -- -- -- -- -- Pt/South Africa
Eastern Platinum Ltd (CN) ELR 2.5 US$1.17 93 $109 (0.10) 0.07 0.03 (0.05) -- 16.7 39.1 -- -- Pt/South Africa
North American Palladium PAL 4.3 C$0.16 378 $53 (0.21) (0.13) (0.03) 0.00 -- -- -- -- -- Pd/\Canada
Wesizwe Platinum Ltd (SA) WEZ 4.0 ZAR$0.78 1628 $110 -- (0.03) (0.04) (0.04) -- -- -- -- -- Pt/South Africa
Average                     16.7 39.1      
Specialty Metals
                             
Alkane Resources Ltd (AU) ALK 2.0 AUD$0.21 413 $72 -- -- 0.04 -- -- -- 6.0 -- -- Zr, Nb, REE/Australia
Avalon Rare Metals AVL 3.0 C$0.21 126 $23 -- -- (0.08) -- -- -- -- -- -- REE/Canada
China Rare Earth Holdings (HK) 769 -- HK$1.04 1673 $224 -- -- -- -- -- -- -- -- -- REE/China
Lynas Corp Ltd (AU) LYC 2.5 AUD$0.05 3371 $126 -- -- (0.01) 0.01 0.02 -- -- 4.8 3.0 REE/Australia, Malaysia
Molycorp MCP 3.2 US$0.73 245 $178 (1.09) (1.32) (0.65) 0.00 -- -- -- -- -- REE/US
Tasman Metals Ltd TAS 2.0 C$0.45 66 $26 -- -- -- -- -- -- -- -- -- REE/Sweden
Average                       6.0 4.8 3.0  
Note:  Currency shown is that used by the company for financial reporting.  Currency does not always reflect the country/market in which the company/stock symbol trades.  GAAP may differ between stocks due to countries and markets.
The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Uranium Price Shrs O/S Mkt Cap Earnings Per Share      Price/Earnings  
Symbol Rating 12-Dec-14 (MM) (US$MM) 2013 2014E 2015E 2016E 2017E 2014E 2015E 2016E 2017E Commodity/Country
Berkeley Resources Ltd (AU) BKY 1.0 AUD$0.31 180 $47 -- -- (0.05) (0.06) (0.00) -- -- -- -- U/Spain
Energy Fuels (CN) EFR 1.6 C$7.79 20 $134 (1.71) (1.77) (0.31) (0.46) (0.34) -- -- -- -- U/US
Fission Uranium Corp (CN) FCU 1.6 C$0.82 363 $259 -- (0.02) (0.01) (0.01) -- -- -- -- -- U/Canada
Kivalliq Energy Corp (CN) KIV 2.0 C$0.17 196 $28 0.00 (0.01) -- -- -- -- -- -- -- U/Canada
Laramide Resources Ltd (CN) LAM 3.0 C$0.40 79 $27 (0.03) -- -- -- -- -- -- -- -- U/Australia
Toro Energy Ltd (AU) TOE 2.5 AUD$0.08 1569 $104 -- -- -- -- -- -- -- -- -- U/Australia
UEX Corp (CN) UEX 3.0 C$0.29 235 $59 (0.01) (0.02) (0.01) -- -- -- -- -- -- U/Canada
Ur-Energy Inc  URG 1.7 C$1.01 129 $114 (0.26) (0.05) 0.00 0.07 0.13 -- NM 13.7 7.7 U/US
Uranerz Energy Corp URZ 1.5 US$1.18 96 $113 (0.33) (0.15) (0.08) 0.03 0.21 -- -- 39.4 5.6 U/US
Uranium Energy Corp  UEC 1.8 US$1.76 91 $161 -- -- (0.04) 0.16 0.26 -- -- 10.8 6.8 U/US
Average                         21.3 6.7  
Coal                              
Cokal Ltd (AU) CKA 2.5 AUD$0.09 471 $33 -- -- (0.03) 0.02 0.08 -- -- 4.3 1.1 coal/Indonesia, Tanzania
Corsa Coal Corp (CN) CSO -- C$0.17 1191 $182 -- -- -- -- -- -- -- -- -- coal/US
Tigers Realm Coal (AU) TIG 2.0 AUD$0.10 894 $74 (0.02) (0.01) (0.01) (0.01) 0.00 -- -- -- -- coal/Russia
Average                         4.3 1.1  
Fertilizers                              
Allana Potash Corp (CN) AAA -- C$0.31 325 $86 -- -- -- -- -- -- -- -- -- potash/Ethiopia
Arianne Phosphate (CN) DAN 2.0 C$0.65 95 $54 -- -- -- -- -- -- -- -- -- phosphate/Canada
IC Potash Corp (CN) ICP 1.5 C$0.25 173 $38 (0.04) -- -- (0.06) (0.08) -- -- -- -- potash/US
Karnalyte Resources Inc (CN) KRN 3.0 C$0.84 27 $20 (0.25) (0.26) -- -- -- -- -- -- -- potash/Canada
Sirius Minerals PLC (UK) SXX 1.3 GBP$0.10 1896 $295 -- -- (0.01) (0.35) -- -- -- -- -- potash/UK
Western Potash Corp (CN) WPX 3.0 C$0.24 227 $47 -- -- -- -- -- -- -- -- -- potash/Canada
Average                              
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 One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items.
Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) 
Recent and Forecast Commodity Prices
Cash Price (12-Dec-14) 2010 2011 2012 2013 2014E 2015E 2016E 2017E 2018E
Aluminum ($0.98 / lb) $0.99 $1.09 $0.92 $0.84 $0.87 $0.92 $0.97 $1.02 $1.13
Copper ($2.96 / lb) $3.43 $4.00 $3.61 $3.33 $3.13 $3.14 $3.21 $3.27 $3.30
Lead ($0.89 / lb) $0.97 $1.09 $0.94 $0.97 $0.98 $1.00 $1.02 $1.01 $1.01
Nickel ($7.41 / lb) $9.91 $10.38 $7.95 $6.81 $8.00 $8.99 $9.11 $8.92 $9.15
Zinc ($0.99 / lb) $0.98 $1.00 $0.88 $0.87 $0.99 $1.07 $1.14 $1.16 $1.17
Gold ($1222 / oz) $1,226 $1,571 $1,668 $1,411 $1,286 $1,284 $1,306 $1,283 $1,286
Palladium ($812 / oz) $528 $733 $643 $725 $814 $853 $876 $862 $905
Platinum ($1225 / oz) $1,611 $1,719 $1,549 $1,485 $1,471 $1,515 $1,570 $1,569 $1,550
Silver ($17.04 / oz) $20.24 $35.29 $31.13 $23.82 $20.10 $20.00 $20.41 $20.45 $20.26
Uranium ($37.75 / lb) $45.97 $56.32 $48.97 $40.42 $34.41 $43.70 $51.75 $59.07 $65.00
Base metal prices are LME cash prices quoted in US$ per lb.  Precious metal prices are London spot prices quoted in US$ per oz.   
Sources: Thomson One Analytics, LME, Kitco.

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.
kitco news