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Metals & Mining Analysts' Ratings & Estimates - Senior
Tuesday September 03, 2013 09:22Senior Producers, Larger-Cap Near-Term Production
| Aluminum | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Alcoa Inc | AA | 3.0 | US$7.70 | 1070 | $8,236 | 0.24 | 0.30 | 0.50 | 25.6 | 15.5 | 1.39 | 1.42 | 1.47 | 5.4 | 5.3 | 7.5 | 1.6% | |||||||
| Alumina Ltd | AWC | 3.4 | US$0.90 | 2806 | $2,534 | (0.02) | (0.00) | 0.02 | -- | 54.0 | 0.02 | 0.03 | 0.05 | 27.2 | 19.8 | -- | -- | |||||||
| Aluminum Corp China Ltd (ADR) | ACH | 3.6 | CNY$2.05 | 3944 | $1,322 | (0.61) | (0.35) | (0.25) | -- | -- | 0.08 | 0.29 | 0.22 | 7.0 | 9.4 | 30.4 | -- | |||||||
| Century Aluminum | CENX | 2.9 | US$7.81 | 89 | $692 | (0.58) | (0.64) | 0.63 | -- | 12.4 | 0.42 | 0.45 | -- | 17.4 | -- | 46.4 | -- | |||||||
| United Company Rusal Ltd (HK) | 486 | 2.8 | US$0.29 | 15193 | $4,427 | 0.02 | 0.02 | 0.05 | 15.5 | 5.8 | 0.07 | (0.00) | 0.05 | -- | 6.2 | 16.7 | -- | |||||||
| Average | 20.6 | 21.9 | 14.2 | 10.2 | 25.2 | |||||||||||||||||||
| Iron Ore | ||||||||||||||||||||||||
| Atlas Iron Ltd (AU) | AGO | 2.7 | AUD$0.81 | 910 | $655 | -- | -- | 0.07 | -- | 11.6 | -- | -- | 0.25 | -- | 3.3 | 3.1 | 3.7% | |||||||
| China Vanadium Titano Mag (HK) | 893 | 2.0 | HK$0.98 | 2075 | $332 | 0.19 | -- | -- | -- | -- | 0.33 | -- | -- | -- | -- | 0.6 | -- | |||||||
| Cliffs Natural Resources | CLF | 3.0 | US$20.87 | 153 | $3,196 | 3.50 | 2.54 | 1.25 | 8.2 | 16.7 | 3.61 | 6.06 | 6.11 | 3.4 | 3.4 | 6.6 | 2.9% | |||||||
| Fortescue Metals Group Ltd (AU) | FMG | 2.1 | US$3.87 | 3114 | $12,054 | -- | -- | 0.85 | -- | 4.6 | -- | -- | 1.17 | -- | 3.3 | 5.2 | 2.3% | |||||||
| Kumba Iron Ore Ltd (SA) | KIO | 2.9 | ZAR$450.00 | 322 | $14,065 | 37.91 | 46.76 | 42.35 | 9.6 | 10.6 | 58.21 | 61.07 | 52.59 | 7.4 | 8.6 | 5.2 | 7.2% | |||||||
| Labrador Iron Ore Royalty (CN) | LIF | 2.5 | C$30.03 | 64 | $1,833 | 1.55 | 2.23 | 2.68 | 13.4 | 11.2 | 0.80 | 1.78 | 2.39 | 16.9 | 12.6 | -- | 3.3% | |||||||
| MMX Mineracao E Metalicos (BZ) | MMXM3 | 3.4 | BRL$2.17 | 976 | $904 | (0.94) | (0.26) | (0.19) | -- | -- | 0.52 | 0.03 | 0.10 | 62.7 | 20.7 | 28.4 | -- | |||||||
| Mount Gibson Iron Limited (AU) | MGX | 2.9 | AUD$0.72 | 1091 | $702 | -- | -- | 0.09 | -- | 8.3 | -- | -- | 0.13 | -- | 5.6 | 1.7 | 5.6% | |||||||
| Sesa Goa Ltd (IN) | SESA | 2.7 | INR$188.75 | 869 | $2,384 | -- | -- | 31.47 | -- | 6.0 | -- | -- | 9.32 | -- | 20.3 | -- | 0.1% | |||||||
| Average | 10.4 | 9.9 | 22.6 | 9.7 | 7.3 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | ||||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | ||||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics. | |||||||||||||||||||||||
| Base Metals & Diversified | ||||||||||||||||||||||||
| Large Cap | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Anglo American PLC (UK) | AAL | 2.6 | US$22.95 | 1394 | $31,993 | 2.24 | 1.77 | 2.11 | 12.9 | 10.9 | 4.34 | 5.07 | 5.43 | 4.5 | 4.2 | 5.5 | 4.1% | |||||||
| Antofagasta PLC (UK) | ANTO | 2.9 | US$13.27 | 986 | $13,085 | 1.40 | 0.86 | 0.84 | 15.4 | 15.9 | 2.86 | 1.90 | 1.96 | 7.0 | 6.8 | 5.0 | 1.8% | |||||||
| BHP Billiton Ltd (AU) | BHP | 2.2 | US$31.96 | 3212 | $102,647 | -- | -- | 2.70 | -- | 11.8 | -- | -- | 4.43 | -- | 7.2 | 4.5 | 3.4% | |||||||
| First Quantum Minerals (CN) | FM | 2.2 | US$16.68 | 591 | $9,857 | 1.17 | 0.92 | 1.23 | 18.2 | 13.6 | 0.72 | 1.98 | 2.32 | 8.4 | 7.2 | 9.0 | 1.0% | |||||||
| Freeport McMoran C&G | FCX | 2.1 | US$30.22 | 1038 | $31,365 | 3.22 | 2.44 | 3.11 | 12.4 | 9.7 | 3.96 | 6.08 | 7.23 | 5.0 | 4.2 | 6.8 | 4.1% | |||||||
| Glencore International PLC (UK) | GLEN | 2.0 | US$4.74 | 13263 | $62,841 | 0.44 | 0.30 | 0.39 | 15.8 | 12.0 | 0.63 | 0.75 | 0.80 | 6.3 | 5.9 | 7.9 | 3.3% | |||||||
| Grupo Mexico (MX) | GMEXICOB | 2.5 | US$2.87 | 7805 | $22,399 | 0.30 | 0.25 | 0.26 | 11.7 | 11.2 | 0.27 | 0.41 | 0.40 | 7.0 | 7.1 | 6.0 | 2.4% | |||||||
| KGHM Polska Miedz (PO) | KGH | 2.8 | PLN$122.60 | 200 | $7,634 | 24.06 | 15.08 | 13.15 | 8.1 | 9.3 | 27.64 | 24.97 | 21.53 | 4.9 | 5.7 | -- | 8.0% | |||||||
| MMC Norilsk Nickel (RU) | GMKN | 2.7 | US$146.40 | 172 | $25,204 | 13.70 | 12.56 | 15.87 | 11.7 | 9.2 | 21.68 | 15.34 | 18.73 | 9.5 | 7.8 | 10.4 | 8.3% | |||||||
| Rio Tinto PLC (UK) | RIO | 2.0 | US$45.22 | 1413 | $63,880 | 5.03 | 4.93 | 5.67 | 9.2 | 8.0 | 5.07 | 7.64 | 8.94 | 5.9 | 5.1 | 6.0 | 4.4% | |||||||
| Southern Copper Corp | SCCO | 2.7 | US$27.50 | 842 | $23,159 | 2.28 | 1.94 | 1.89 | 14.1 | 14.5 | 2.36 | 2.51 | 2.39 | 11.0 | 11.5 | 8.3 | 12.0% | |||||||
| Teck Cominco Ltd (CN) | TCK/B | 2.3 | C$26.52 | 567 | $14,339 | 2.60 | 1.63 | 2.00 | 16.3 | 13.2 | 4.77 | 4.21 | 4.52 | 6.3 | 5.9 | 6.7 | 3.4% | |||||||
| Vale SA (ADR) | VALE | 2.2 | US$14.41 | 3186 | $45,905 | 2.20 | 2.19 | 2.04 | 6.6 | 7.1 | 3.25 | 3.00 | 3.11 | 4.8 | 4.6 | 2.5 | 5.7% | |||||||
| Average | 12.7 | 11.3 | 6.7 | 6.4 | 6.5 | |||||||||||||||||||
| Mid Cap | ||||||||||||||||||||||||
| Assore Ltd (SA) | ASR | 4.0 | ZAR$392.00 | 140 | $5,311 | -- | -- | 33.76 | -- | 11.6 | -- | -- | 46.01 | -- | 8.5 | 10.5 | 1.4% | |||||||
| Aurubis AG (GR) | NDA | 2.2 | EUR$43.45 | 45 | $2,605 | 4.33 | 3.48 | 4.36 | 12.5 | 10.0 | -- | 5.57 | 6.57 | 7.8 | 6.6 | 6.2 | 3.1% | |||||||
| Boliden AB (SW) | BOL | 3.4 | SEK$96.75 | 274 | $4,068 | 11.96 | 5.53 | 8.17 | 17.5 | 11.8 | 20.17 | 14.89 | 17.87 | 6.5 | 5.4 | 7.2 | 4.1% | |||||||
| Eramet (FR) | ERA | 2.9 | EUR$69.99 | 27 | $2,478 | 3.18 | (0.38) | 3.91 | -- | 17.9 | 8.41 | 11.00 | 14.28 | 6.4 | 4.9 | 6.6 | 2.8% | |||||||
| Eurasian Natural Resources (UK) | ENRC | 2.9 | US$3.55 | 1288 | $4,566 | 0.41 | 0.44 | 0.63 | 8.1 | 5.6 | 0.99 | 0.99 | 1.21 | 3.6 | 2.9 | 5.5 | -- | |||||||
| Exxaro Resources Ltd (SA) | EXX | 2.4 | ZAR$162.39 | 358 | $5,643 | 13.97 | 14.57 | 16.75 | 11.1 | 9.7 | 1.53 | 14.75 | 20.49 | 11.0 | 7.9 | 20.7 | 2.4% | |||||||
| Hindustan Zinc (IN) | HZ | 1.7 | INR$123.75 | 4225 | $7,600 | -- | 16.85 | 16.51 | 7.3 | 7.5 | -- | -- | 16.26 | -- | 7.6 | -- | 2.5% | |||||||
| Iluka Resources Ltd (AU) | ILU | 2.4 | AUD$10.75 | 419 | $4,024 | 0.87 | 0.25 | 0.82 | 43.2 | 13.1 | 0.60 | 0.47 | 1.36 | 22.9 | 7.9 | 12.9 | 1.4% | |||||||
| Jiangxi Copper Co "H" (HK) | 358 | 2.9 | CNY$11.79 | 1387 | $2,673 | 1.49 | 0.93 | 0.97 | 12.7 | 12.1 | 1.51 | 1.01 | 1.38 | 11.7 | 8.5 | 47.2 | 4.2% | |||||||
| Kazakhmys PLC (UK) | KAZ | 3.5 | US$4.68 | 524 | $2,451 | 0.85 | 0.51 | 0.44 | 9.2 | 10.6 | 1.32 | 0.91 | 0.59 | 5.1 | 8.0 | 4.7 | 1.9% | |||||||
| Lundin Mining Corp (CN) | LUN | 2.1 | US$4.14 | 584 | $2,419 | 0.32 | 0.27 | 0.34 | 15.2 | 12.3 | 0.33 | 0.44 | 0.52 | 9.3 | 7.9 | 7.3 | -- | |||||||
| Sterlite Industries (ADR) | SLT | 2.3 | INR$90.30 | 3361 | $4,412 | -- | -- | 18.62 | -- | 4.9 | -- | -- | 27.96 | -- | 3.2 | -- | 2.5% | |||||||
| Sumitomo Metal Mining (JP) | 5713 | 2.9 | JPY$1,326 | 582 | $7,900 | -- | -- | 131.72 | -- | 10.1 | -- | -- | 221.00 | -- | 6.0 | 6.8 | 2.6% | |||||||
| Vale Indonesia Tbk PT (ID) | INCO | 2.8 | US$0.21 | 9936 | $2,091 | 0.01 | 0.01 | 0.02 | 15.9 | 12.3 | 0.01 | 0.01 | 0.02 | 15.0 | 11.2 | 7.2 | 2.4% | |||||||
| Vedanta Resources PLC (UK) | VED | 2.8 | US$18.04 | 266 | $4,807 | -- | -- | 1.55 | -- | 11.6 | -- | -- | 15.39 | -- | 1.2 | 6.1 | 3.6% | |||||||
| Average | 15.3 | 10.7 | 9.9 | 6.5 | 11.5 | |||||||||||||||||||
| Small Cap | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Capstone Mining Corp (CN) | CS | 1.9 | US$2.10 | 379 | $796 | 0.16 | 0.14 | 0.33 | 15.1 | 6.3 | 0.28 | 0.32 | 0.59 | 6.6 | 3.5 | 4.1 | -- | |||||||
| China Molybdenum Co Ltd (HK) | 3993 | 2.8 | CNY$2.39 | 1311 | $512 | 0.21 | 0.20 | 0.23 | 11.8 | 10.5 | -- | 0.33 | 0.21 | 7.2 | 11.4 | 21.1 | 8.8% | |||||||
| CITIC Dameng Holdings Ltd (HK) | 1091 | 2.0 | HK$0.64 | 3025 | $250 | (0.13) | (0.07) | 0.05 | -- | 13.9 | -- | -- | -- | -- | -- | 16.6 | -- | |||||||
| Hudbay Minerals (CN) | HBM | 2.4 | C$6.92 | 172 | $1,136 | 0.21 | 0.04 | 0.28 | NM | 25.1 | 0.83 | 0.18 | 0.62 | 39.2 | 11.1 | 8.3 | 0.3% | |||||||
| Independence Group NL (AU) | IGO | 2.5 | AUD$3.73 | 233 | $778 | -- | -- | 0.32 | -- | 11.6 | -- | -- | 0.50 | -- | 7.5 | 8.8 | 0.5% | |||||||
| Mechel OAO (ADR) | MTL | 3.6 | US$2.89 | 416 | $1,203 | 0.06 | (0.68) | (0.17) | -- | -- | (3.74) | 1.06 | 0.89 | 2.7 | 3.2 | 9.9 | -- | |||||||
| Mitsui Mining & Smelting (JP) | 5706 | 2.9 | JPY$230 | 573 | $1,350 | -- | -- | 24.61 | -- | 9.3 | -- | -- | 70.31 | -- | 3.3 | 7.0 | 1.3% | |||||||
| MMG Ltd (HK) | 1208 | 2.3 | US$0.23 | 5290 | $1,194 | 0.04 | 0.04 | 0.04 | 5.8 | 5.3 | 0.12 | 0.18 | 0.16 | 1.3 | 1.4 | 2.7 | -- | |||||||
| Nyrstar NV (BE) | NYR | 3.4 | EUR$3.53 | 170 | $801 | (0.34) | (0.57) | (0.15) | -- | -- | 2.23 | 0.95 | 1.03 | 3.7 | 3.4 | 6.4 | 6.0% | |||||||
| Outokumpu (FN) | OUT1V | 3.5 | EUR$0.46 | 2078 | $1,265 | (0.28) | (0.23) | (0.04) | -- | -- | 0.23 | (0.05) | 0.17 | -- | 2.7 | -- | -- | |||||||
| Oz Minerals (AU) | OZL | 2.9 | AUD$4.23 | 303 | $1,148 | 0.45 | (0.14) | 0.09 | -- | 46.2 | 1.04 | 0.56 | 0.97 | 7.6 | 4.4 | 6.0 | 7.1% | |||||||
| PanAust Ltd (AU) | PNA | 2.3 | US$1.95 | 619 | $1,207 | 0.24 | 0.14 | 0.16 | 13.5 | 12.3 | 0.33 | 0.48 | 0.35 | 4.0 | 5.5 | 5.2 | 3.2% | |||||||
| Philex Mining Corp (PH) | PX | 3.3 | PHP$10.10 | 4933 | $1,118 | 0.35 | 0.32 | 0.60 | 31.1 | 16.8 | 0.59 | 0.88 | 0.60 | 11.5 | 16.9 | 15.2 | -- | |||||||
| Sherritt International (CN) | S | 2.1 | C$3.68 | 297 | $1,044 | 0.28 | 0.16 | 0.50 | 23.5 | 7.3 | 0.91 | 1.00 | 1.51 | 3.7 | 2.4 | 7.1 | 4.7% | |||||||
| Taseko Mines Ltd | TGB | 2.1 | C$2.15 | 193 | $395 | 0.01 | (0.00) | 0.27 | -- | 7.9 | 0.27 | 0.23 | 0.50 | 9.2 | 4.3 | 12.1 | -- | |||||||
| Thompson Creek Metals | TC | 3.5 | US$3.69 | 171 | $633 | (0.20) | 0.16 | 0.45 | 23.6 | 8.2 | (0.49) | 0.53 | 0.93 | 7.0 | 4.0 | 12.2 | -- | |||||||
| Volcan Cia Ninera | VOLABC1 | 1.8 | US$0.49 | 2241 | $1,100 | 0.06 | 0.03 | 0.05 | 14.9 | 10.8 | -- | -- | -- | -- | -- | 4.0 | 3.5% | |||||||
| Western Areas NL (AU) | WSA | 2.5 | AUD$2.94 | 197 | $517 | -- | -- | 0.15 | -- | 20.0 | -- | -- | 0.57 | -- | 5.1 | 6.3 | 0.7% | |||||||
| Average | 17.4 | 14.1 | 8.6 | 5.6 | 9.0 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | ||||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | ||||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics. | |||||||||||||||||||||||
| Gold | ||||||||||||||||||||||||
| Large Cap | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| AngloGold Ashanti Ltd | AU | 2.8 | US$13.37 | 384 | $5,129 | 2.36 | 0.80 | 1.56 | 16.7 | 8.6 | 3.50 | 4.04 | 4.01 | 3.3 | 3.3 | 4.6 | 2.1% | |||||||
| Barrick Gold Corp | ABX | 2.6 | US$19.15 | 1001 | $19,172 | 3.82 | 2.61 | 2.29 | 7.3 | 8.4 | 5.43 | 4.00 | 4.05 | 4.8 | 4.7 | 5.8 | 1.0% | |||||||
| Buenaventura (ADR) | BVN | 3.1 | US$12.63 | 275 | $3,472 | 2.71 | 1.67 | 1.57 | 7.6 | 8.1 | 1.32 | 0.96 | 1.21 | 13.2 | 10.4 | 6.4 | 4.0% | |||||||
| Eldorado Gold Corp | EGO | 2.2 | US$8.55 | 715 | $6,114 | 0.47 | 0.34 | 0.34 | 25.1 | 24.8 | 0.43 | 0.59 | 0.61 | 14.4 | 14.1 | 11.0 | 1.1% | |||||||
| Goldcorp Inc | GG | 2.4 | US$29.50 | 812 | $23,957 | 2.03 | 0.91 | 1.34 | 32.3 | 22.1 | 2.52 | 2.09 | 2.68 | 14.1 | 11.0 | 14.1 | -- | |||||||
| Kinross Gold Corp | KGC | 2.6 | US$5.50 | 1143 | $6,284 | 0.77 | 0.31 | 0.29 | 17.5 | 18.7 | 1.14 | 0.97 | 0.96 | 5.7 | 5.7 | 6.3 | -- | |||||||
| Newcrest Mining Ltd (AU) | NCM | 3.4 | AUD$13.26 | 767 | $9,087 | -- | -- | 0.59 | -- | 22.4 | -- | -- | 1.26 | -- | 10.5 | 10.5 | 0.9% | |||||||
| Newmont Mining | NEM | 3.0 | US$31.77 | 493 | $15,657 | 3.71 | 1.97 | 1.91 | 16.1 | 16.6 | 4.79 | 4.34 | 4.73 | 7.3 | 6.7 | 8.9 | 3.1% | |||||||
| Randgold Resources (ADR) | GOLD | 1.6 | US$78.02 | 92 | $7,193 | 4.65 | 3.06 | 4.63 | 25.5 | 16.9 | 5.37 | 5.27 | 7.56 | 14.8 | 10.3 | 13.7 | 0.6% | |||||||
| Yamana Gold Inc | AUY | 2.3 | US$11.38 | 753 | $8,568 | 0.93 | 0.50 | 0.60 | 22.6 | 19.0 | 1.54 | 1.12 | 1.27 | 10.2 | 9.0 | 9.5 | 2.3% | |||||||
| Average | 19.0 | 16.5 | 9.8 | 8.6 | 9.1 | |||||||||||||||||||
| Mid Cap | ||||||||||||||||||||||||
| African Barrick Gold Ltd (UK) | ABG | 3.2 | US$2.95 | 410 | $1,210 | 0.26 | 0.17 | 0.16 | 17.6 | 18.9 | 0.63 | 0.46 | 0.69 | 6.4 | 4.3 | 4.1 | 5.0% | |||||||
| Agnico-Eagle Mines Ltd | AEM | 2.9 | US$30.05 | 173 | $5,208 | 2.17 | 0.54 | 0.82 | 55.6 | 36.8 | 4.06 | 2.33 | 2.91 | 12.9 | 10.3 | 11.9 | 2.9% | |||||||
| Alamos Gold (CN) | AGI | 2.0 | US$16.40 | 127 | $2,088 | 1.02 | 0.63 | 0.44 | 26.1 | 36.9 | 1.53 | 1.02 | 0.83 | 16.2 | 19.7 | 9.0 | 1.2% | |||||||
| B2Gold Corp | BTG | 1.6 | US$2.67 | 651 | $1,739 | 0.20 | 0.15 | 0.16 | 17.5 | 16.5 | 0.27 | 0.26 | 0.31 | 10.2 | 8.7 | 9.6 | -- | |||||||
| Centerra Gold (CN) | CG | 2.2 | US$6.34 | 236 | $1,499 | 0.42 | 1.02 | 1.30 | 6.2 | 4.9 | 0.57 | 1.76 | 2.02 | 3.6 | 3.1 | 2.7 | 2.4% | |||||||
| Franco-Nevada (CN) | FNV | 2.4 | US$45.74 | 147 | $6,717 | 1.19 | 0.93 | 0.98 | 49.2 | 46.8 | 2.24 | 1.92 | 2.07 | 23.9 | 22.1 | 18.0 | -- | |||||||
| Gold Fields Ltd (ADR) | GFI | 3.0 | US$5.15 | 742 | $3,820 | 1.15 | 0.29 | 0.40 | 17.9 | 12.9 | 1.46 | 1.07 | 1.05 | 4.8 | 4.9 | 5.1 | 5.3% | |||||||
| Harmony Gold (ADR) | HMY | 2.3 | US$3.62 | 435 | $1,576 | -- | -- | 0.56 | -- | 6.4 | -- | -- | 1.09 | -- | 3.3 | -- | 3.2% | |||||||
| Hochschild Mining PLC (UK) | HOC | 3.2 | US$4.06 | 338 | $1,372 | 0.19 | (0.06) | 0.05 | -- | 80.7 | 0.75 | 0.47 | 0.64 | 8.7 | 6.3 | 8.1 | 0.8% | |||||||
| Iamgold Corp | IAG | 2.8 | US$6.02 | 377 | $2,267 | 0.84 | 0.38 | 0.41 | 16.0 | 14.5 | 1.17 | 0.87 | 1.02 | 6.9 | 5.9 | 5.2 | 4.2% | |||||||
| New Gold Inc | NGD | 2.2 | US$6.77 | 502 | $3,402 | 0.40 | 0.28 | 0.38 | 23.8 | 17.6 | 0.50 | 0.62 | 0.79 | 10.9 | 8.6 | 9.7 | -- | |||||||
| Osisko Mining Corp (CN) | OSK | 2.1 | C$5.23 | 437 | $2,180 | 0.21 | 0.22 | 0.28 | 23.4 | 18.7 | 0.64 | 0.59 | 0.62 | 8.9 | 8.4 | 15.0 | -- | |||||||
| Polymetal International PLC (UK) | POLY | 2.5 | US$11.73 | 389 | $4,568 | 1.09 | 0.79 | 0.97 | 14.8 | 12.1 | 1.30 | 1.13 | 1.31 | 10.4 | 8.9 | 1.5 | -- | |||||||
| Polyus Gold Co (RU) | PLZL | 3.0 | US$27.00 | 191 | $5,147 | 0.32 | 0.22 | -- | NM | -- | -- | -- | -- | -- | -- | 10.0 | 7.0% | |||||||
| Royal Gold Inc | RGLD | 2.4 | US$58.03 | 65 | $3,748 | -- | 1.13 | 1.89 | 51.5 | 30.7 | -- | 2.99 | 3.73 | 19.4 | 15.5 | 13.1 | 1.4% | |||||||
| Zijin Mining Group (HK) | 2899 | 3.2 | CNY$1.54 | 6008 | $1,511 | 0.24 | 0.13 | 0.12 | 12.3 | 13.4 | 0.25 | 0.24 | 0.26 | 6.4 | 5.9 | 8.6 | 6.5% | |||||||
| Average | 25.5 | 24.5 | 10.7 | 9.1 | 8.8 | |||||||||||||||||||
| Small Cap | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Alacer Gold Corp (CN) | ASR | 2.8 | US$3.09 | 287 | $887 | 0.42 | 0.25 | 0.20 | 12.6 | 15.2 | 0.84 | 0.55 | 0.50 | 5.6 | 6.2 | 7.8 | -- | |||||||
| Allied Nevada Gold | ANV | 3.5 | US$4.64 | 104 | $482 | 0.52 | 0.30 | 0.59 | 15.4 | 7.8 | (0.23) | 0.66 | 1.02 | 7.0 | 4.6 | 36.5 | -- | |||||||
| AuRico Gold Inc | AUQ | 2.6 | US$4.30 | 247 | $1,062 | 0.29 | 0.13 | 0.22 | 34.1 | 19.8 | 0.00 | 0.34 | 0.51 | 12.8 | 8.5 | 10.7 | 3.7% | |||||||
| Centamin Egypt (CN) | CEE | 2.7 | US$0.68 | 1101 | $746 | 0.18 | 0.17 | 0.14 | 3.9 | 4.8 | 0.20 | 0.21 | 0.20 | 3.2 | 3.4 | -- | -- | |||||||
| Gold Resource Corp | GORO | 2.0 | US$8.39 | 53 | $447 | 0.60 | 0.25 | 0.85 | 33.6 | 9.9 | 0.55 | -- | -- | -- | -- | -- | -- | |||||||
| Highland Gold Mining Ltd (UK) | HGM | 2.0 | US$1.23 | 325 | $401 | 0.38 | 0.20 | 0.21 | 6.3 | 5.9 | 0.40 | 0.29 | 0.42 | 4.2 | 3.0 | 2.5 | -- | |||||||
| Kingsgate Consolidated Ltd (AU) | KCN | 4.0 | AUD$2.23 | 152 | $304 | -- | -- | 0.12 | -- | 18.0 | -- | -- | 0.43 | -- | 5.2 | 4.6 | 6.7% | |||||||
| Kirkland Lake Gold (CN) | KGI | 2.3 | C$4.51 | 70 | $302 | -- | 0.05 | 0.53 | 88.4 | 8.5 | -- | 0.45 | 0.93 | 10.0 | 4.9 | 9.3 | -- | |||||||
| Lake Shore Gold (CN) | LSG | 2.9 | C$0.52 | 417 | $207 | (0.02) | (0.03) | (0.01) | -- | -- | 0.07 | 0.10 | 0.15 | 5.2 | 3.4 | 5.6 | -- | |||||||
| Medusa Mining Ltd (UK) | MML | 1.8 | US$2.33 | 189 | $440 | -- | -- | 0.53 | -- | 4.4 | -- | -- | 0.74 | -- | 3.2 | 5.2 | -- | |||||||
| Nord Gold NV (UK) | NORD | 2.8 | US$2.00 | 378 | $756 | 0.05 | 0.17 | 0.26 | 11.7 | 7.6 | 0.34 | 0.70 | 0.98 | 2.9 | 2.0 | -- | -- | |||||||
| Petropavlovsk PLC (UK) | POG | 2.9 | US$1.65 | 198 | $325 | 0.54 | 0.01 | (0.02) | NM | -- | 1.45 | 1.52 | 1.13 | 1.1 | 1.5 | 4.2 | 7.1% | |||||||
| Real Gold Mining Ltd (HK) | 246 | -- | CNY$6.96 | 909 | $1,033 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 3.9 | -- | |||||||
| Semafo (CN) | SMF | 2.1 | US$2.11 | 273 | $576 | 0.28 | 0.14 | 0.10 | 15.1 | 21.2 | 0.57 | 0.34 | 0.29 | 6.2 | 7.3 | 5.0 | 1.8% | |||||||
| Zhaojin Mining Industry Co Ltd (HK) | 1818 | 3.0 | CNY$5.80 | 874 | $829 | 0.66 | 0.41 | 0.35 | 14.2 | 16.4 | 0.60 | 0.82 | 0.63 | 7.0 | 9.2 | 8.8 | 4.1% | |||||||
| Average | 23.5 | 11.6 | 5.9 | 4.8 | 8.7 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | ||||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | ||||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics. | |||||||||||||||||||||||
| Silver | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Alexco Resource Corp | AXU | 3.7 | C$2.24 | 63 | $134 | 0.01 | (0.69) | (0.21) | -- | -- | 0.23 | (0.04) | 0.09 | -- | 26.2 | -- | -- | |||||||
| Coeur d'Alene Mines Corp | CDE | 3.1 | US$14.44 | 102 | $1,467 | 0.53 | (0.62) | (0.51) | -- | -- | 3.03 | 1.61 | 1.58 | 9.0 | 9.1 | 6.3 | -- | |||||||
| Endeavour Silver Corp | EXK | 2.7 | US$4.98 | 100 | $497 | 0.42 | 0.16 | 0.14 | 31.7 | 36.7 | 0.79 | 0.54 | 0.53 | 9.2 | 9.4 | 7.9 | -- | |||||||
| First Majestic Silver Corp (CN) | FR | 1.8 | US$14.23 | 117 | $1,663 | 0.85 | 0.52 | 1.01 | 27.4 | 14.0 | 1.21 | 1.18 | 1.49 | 12.0 | 9.6 | 14.2 | -- | |||||||
| Fortuna Silver Mines (CN) | FVI | 2.3 | US$4.17 | 125 | $522 | 0.28 | 0.15 | 0.13 | 27.8 | 32.4 | 0.43 | 0.34 | 0.40 | 12.2 | 10.5 | 9.9 | -- | |||||||
| Fresnillo (UK) | FRES | 2.8 | US$20.23 | 737 | $14,906 | 0.91 | 0.56 | 0.61 | 35.8 | 33.3 | 1.03 | 0.95 | 1.01 | 21.4 | 20.0 | 14.7 | 2.7% | |||||||
| Great Panther Resources (CN) | GPR | 2.7 | C$1.21 | 138 | $159 | 0.06 | (0.01) | 0.01 | -- | NM | 0.10 | 0.02 | 0.08 | 61.3 | 15.9 | -- | -- | |||||||
| Hecla Mining Co | HL | 3.0 | US$3.42 | 343 | $1,172 | 0.11 | (0.05) | 0.07 | -- | 51.8 | 0.23 | 0.18 | 0.44 | 18.7 | 7.7 | 17.1 | 0.3% | |||||||
| Mandalay Resources (CN) | MND | 2.0 | US$0.86 | 324 | $278 | 0.13 | 0.07 | 0.09 | 12.9 | 9.5 | 0.16 | 0.15 | 0.17 | 5.9 | 5.0 | 0.0 | 3.1% | |||||||
| Pan American Silver | PAAS | 3.1 | US$12.22 | 151 | $1,850 | 1.25 | 0.33 | 0.49 | 37.5 | 25.0 | 1.36 | 1.02 | 1.15 | 12.0 | 10.6 | 6.7 | 4.1% | |||||||
| Silver Standard | SSRI | 3.0 | US$8.43 | 81 | $681 | 0.68 | (0.49) | (0.37) | -- | -- | 0.07 | 0.43 | 0.30 | 19.6 | 28.2 | 6.7 | -- | |||||||
| Silver Wheaton | SLW | 1.9 | US$26.35 | 355 | $9,352 | 1.65 | 1.12 | 1.13 | 23.6 | 23.4 | 2.02 | 1.59 | 1.66 | 16.6 | 15.9 | 18.5 | 1.5% | |||||||
| Silvercorp | SVM | 2.0 | US$3.70 | 171 | $632 | -- | 0.09 | 0.11 | 43.5 | 35.2 | -- | -- | 0.40 | -- | 9.2 | 5.9 | 2.6% | |||||||
| SilverCrest Mines (CN) | SVL | 1.9 | US$2.12 | 109 | $230 | 0.32 | 0.12 | 0.21 | 17.2 | 10.0 | 0.44 | 0.21 | 0.31 | 10.1 | 6.8 | 6.3 | -- | |||||||
| Tahoe Resources | TAHO | 1.9 | US$17.93 | 146 | $2,616 | (0.62) | (0.44) | 1.14 | -- | 15.8 | (0.61) | (0.42) | 1.28 | -- | 14.0 | -- | -- | |||||||
| Average | 28.6 | 26.1 | 17.3 | 13.2 | 9.5 | |||||||||||||||||||
| Platinum Group Metals | ||||||||||||||||||||||||
| African Rainbow Minerals (SA) | ARI | 1.8 | ZAR$188.32 | 216 | $3,940 | -- | 17.65 | 19.10 | 10.7 | 9.9 | -- | 24.02 | 28.83 | 7.8 | 6.5 | -- | 2.5% | |||||||
| Anglo Platinum Ltd (SA) | AMS | 2.9 | ZAR$409.75 | 270 | $10,723 | (5.62) | 6.48 | 13.97 | 63.3 | 29.3 | 7.24 | 19.26 | 34.96 | 21.3 | 11.7 | 14.9 | -- | |||||||
| Aquarius Platinum Ltd (UK) | AQP | 2.6 | US$0.73 | 465 | $339 | -- | (0.24) | 0.06 | -- | 13.3 | -- | -- | 0.15 | -- | 4.8 | 7.6 | -- | |||||||
| Impala Platinum (SA) | IMP | 2.9 | ZAR$113.50 | 632 | $6,963 | -- | -- | 6.93 | -- | 16.4 | -- | -- | 11.24 | -- | 10.1 | 11.9 | 0.8% | |||||||
| Lonmin PLC (UK) | LMI | 3.0 | US$5.28 | 569 | $3,009 | -- | 0.16 | 0.24 | 33.4 | 22.3 | -- | 0.34 | 0.52 | 15.6 | 10.1 | 10.9 | -- | |||||||
| North American Palladium | PAL | 3.1 | US$1.10 | 197 | $206 | (0.04) | (0.08) | 0.02 | -- | 58.2 | 0.09 | 0.00 | 0.14 | NM | 8.1 | -- | -- | |||||||
| Northam Platinum Ltd (SA) | NHM | 3.3 | ZAR$41.70 | 383 | $1,548 | -- | -- | 2.02 | -- | 20.7 | -- | -- | 3.23 | -- | 12.9 | 17.4 | -- | |||||||
| Stillwater Mining Co | SWC | 2.0 | US$11.39 | 119 | $1,357 | 0.46 | 0.30 | 0.60 | 38.0 | 18.9 | 0.79 | 1.02 | 1.52 | 11.2 | 7.5 | 10.7 | -- | |||||||
| Average | 36.3 | 23.6 | 14.0 | 9.0 | 12.2 | |||||||||||||||||||
| Fertilizers | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Agrium Inc | AGU | 2.4 | US$85.78 | 148 | $12,666 | 10.29 | 9.03 | 8.67 | 9.5 | 9.9 | 13.51 | 11.35 | 11.88 | 7.6 | 7.2 | 6.3 | 2.3% | |||||||
| Arab Potash Co (JR) | APOT | 4.0 | JOD$36.00 | 83 | $4,239 | 2.39 | 2.16 | 2.21 | 16.7 | 16.3 | 2.08 | 2.64 | 1.83 | 13.6 | 19.6 | 12.2 | 6.9% | |||||||
| CF Industries | CF | 2.5 | US$190.34 | 57 | $10,903 | 27.89 | 24.40 | 21.45 | 7.8 | 8.9 | 36.72 | 31.30 | 31.48 | 6.1 | 6.0 | 4.4 | 0.8% | |||||||
| Compass Minerals | CMP | 3.3 | US$73.73 | 33 | $2,467 | 3.11 | 3.79 | 4.04 | 19.5 | 18.3 | 4.58 | 4.51 | 5.94 | 16.3 | 12.4 | 11.1 | 3.0% | |||||||
| Incitec Pivot Ltd (AU) | IPL | 2.5 | AUD$2.59 | 1629 | $3,771 | -- | 0.21 | 0.26 | 12.5 | 9.9 | -- | 0.31 | 0.39 | 8.4 | 6.7 | 8.3 | 4.8% | |||||||
| Intrepid Potash | IPI | 3.2 | US$12.44 | 75 | $938 | 1.17 | 0.48 | 0.35 | 26.2 | 35.3 | 2.49 | 1.25 | 1.39 | 10.0 | 8.9 | 8.5 | -- | |||||||
| Israel Chemical (IS) | ICL | 2.7 | US$6.91 | 1273 | $8,792 | 1.02 | 0.88 | 0.74 | 7.9 | 9.3 | 1.26 | 1.11 | 0.94 | 6.2 | 7.3 | 6.0 | 9.7% | |||||||
| K & S Aktiengesellschaft (GR) | SDF | 3.5 | EUR$18.36 | 191 | $4,688 | 2.83 | 2.37 | 1.42 | 7.7 | 12.9 | 4.15 | 3.84 | 2.89 | 4.8 | 6.4 | 4.1 | 7.6% | |||||||
| Mosaic Co | MOS | 2.6 | US$41.65 | 426 | $17,735 | -- | 3.84 | 3.53 | 10.9 | 11.8 | -- | 4.82 | 5.23 | 8.6 | 8.0 | 5.6 | 2.4% | |||||||
| Potash Corp | POT | 2.8 | US$29.64 | 868 | $25,719 | 2.71 | 2.47 | 2.35 | 12.0 | 12.6 | 3.68 | 3.61 | 3.25 | 8.2 | 9.1 | 7.6 | 4.7% | |||||||
| Sociedad Quimica Minera (ADR) | SQM | 3.1 | US$25.91 | 120 | $3,119 | 2.47 | 2.00 | 1.79 | 13.0 | 14.5 | 2.47 | 3.56 | 2.40 | 7.3 | 10.8 | 6.4 | 4.8% | |||||||
| Uralkaliy (RU) | URKA | 2.7 | US$4.65 | 2936 | $13,652 | -- | 0.60 | 0.59 | 7.8 | 7.9 | -- | -- | -- | -- | -- | 4.0 | 5.6% | |||||||
| Yara International ASA (NO) | YAR | 2.4 | NOK$242.00 | 279 | $11,147 | 35.52 | 29.58 | 29.44 | 8.2 | 8.2 | 46.79 | 37.29 | 36.74 | 6.5 | 6.6 | 5.1 | 5.4% | |||||||
| Average | 12.3 | 13.5 | 8.6 | 9.1 | 6.9 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | ||||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | ||||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics. | |||||||||||||||||||||||
| Uranium | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Cameco Corp | CCJ | 1.9 | C$20.05 | 395 | $7,563 | 1.13 | 0.87 | 1.22 | 23.1 | 16.5 | 1.63 | 1.49 | 1.94 | 13.4 | 10.4 | 13.9 | 2.0% | |||||||
| Denison Mines | DNN | 2.3 | US$1.14 | 450 | $515 | 0.07 | (0.04) | (0.03) | -- | -- | (0.02) | (0.04) | (0.02) | -- | -- | -- | -- | |||||||
| Energy Resources Australia (AU) | ERA | 2.9 | AUD$1.37 | 518 | $634 | (0.29) | (0.22) | (0.19) | -- | -- | (0.01) | 0.04 | 0.19 | 38.1 | 7.1 | -- | -- | |||||||
| Paladin Resources Ltd (AU) | PDN | 3.1 | US$0.50 | 963 | $482 | -- | 0.26 | 0.08 | 1.9 | 6.3 | -- | -- | 0.14 | -- | 3.6 | 16.8 | -- | |||||||
| Uranium One (CN) | UUU | 2.5 | US$2.64 | 957 | $2,529 | 0.07 | 0.11 | 0.17 | 23.6 | 15.7 | 0.19 | 0.24 | 0.32 | 10.9 | 8.3 | 7.6 | -- | |||||||
| Uranium Participation Corp (CN) | U | 1.4 | C$4.86 | 106 | $493 | -- | -- | 1.90 | -- | 2.6 | -- | -- | (0.03) | -- | -- | -- | -- | |||||||
| USEC Inc | USU | -- | US$16.46 | 5 | $81 | (246.00) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | |||||||
| Average | 16.2 | 10.3 | 20.8 | 7.3 | 12.8 | |||||||||||||||||||
| Coal | ||||||||||||||||||||||||
| Large - Mid Cap | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | Cash Flow Per Share | Price/Cash Flow | EV/EBITDA | Div Yld | |||||||||||||||
| Symbol | Rating | 30-Aug-13 | (MM) | (US$MM) | 2012 | 2013E | 2014E | 2013E | 2014E | 2012 | 2013E | 2014E | 2013E | 2014E | 2013E | % | ||||||||
| Adaro Energy TBK (ID) | ADRO | 2.9 | US$0.09 | 31986 | $2,722 | 0.01 | 0.01 | 0.01 | 7.8 | 7.7 | 0.01 | 0.02 | 0.02 | 4.6 | 5.2 | 5.6 | 4.3% | |||||||
| Alpha Natural Resources | ANR | 2.8 | US$6.08 | 221 | $1,343 | (0.94) | (2.50) | (2.15) | -- | -- | 2.35 | 1.06 | 1.82 | 5.8 | 3.3 | 14.9 | -- | |||||||
| Arch Coal | ACI | 2.7 | US$4.47 | 212 | $949 | (0.09) | (1.27) | (1.06) | -- | -- | 1.57 | 0.98 | 1.09 | 4.6 | 4.1 | 12.6 | 2.7% | |||||||
| Banpu Public Co Ltd (TH) | BANPU | 2.9 | THB$276.00 | 272 | $2,332 | 25.08 | 21.57 | 25.55 | 12.8 | 10.8 | 28.10 | 51.42 | 55.54 | 5.4 | 5.0 | 8.7 | 6.5% | |||||||
| Bayan Resources Group (ID) | BYAN | -- | IDR$7,400 | 3333 | $2,257 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 19.0 | -- | |||||||
| China Coal Energy Co (HK) | 1898 | 2.9 | CNY$3.61 | 4107 | $2,420 | 0.67 | 0.44 | 0.45 | 8.2 | 8.1 | 0.82 | 0.91 | 1.09 | 4.0 | 3.3 | 7.2 | 5.8% | |||||||
| China Shenhua Energy Co (HK) | 1088 | 2.2 | HK$19.02 | 3399 | $10,561 | 2.46 | 2.26 | 2.26 | 8.4 | 8.4 | 3.47 | 3.39 | 3.57 | 5.6 | 5.3 | 4.6 | 5.0% | |||||||
| Consol Energy | CNX | 1.8 | US$31.23 | 229 | $7,147 | 1.11 | 0.39 | 1.49 | 80.3 | 20.9 | 3.18 | 3.68 | 4.73 | 8.5 | 6.6 | 10.1 | 1.6% | |||||||
| Neyveli Lignite Corp (IN) | NLC | 2.0 | INR$54.75 | 1678 | $1,335 | -- | -- | 9.30 | -- | 5.9 | -- | -- | 12.46 | -- | 4.4 | 5.7 | 5.1% | |||||||
| New Hope Corp Ltd (AU) | NHC | 2.1 | AUD$4.30 | 831 | $3,193 | -- | 0.13 | 0.16 | 32.1 | 26.7 | -- | 0.29 | 0.28 | 15.0 | 15.3 | 14.3 | 2.6% | |||||||
| Peabody Energy | BTU | 2.3 | US$17.20 | 270 | $4,641 | 2.05 | 0.15 | 0.66 | NM | 26.2 | 5.97 | 2.83 | 3.75 | 6.1 | 4.6 | 9.4 | 2.0% | |||||||
| PT Bumi Resources (ID) | BUMI | 3.8 | US$0.04 | 20773 | $779 | (0.03) | (0.01) | (0.00) | -- | -- | 0.01 | 0.01 | 0.02 | 3.0 | 2.4 | 7.3 | -- | |||||||
| PT Tambang Batubara Bukit (ID) | PTBA | 2.5 | IDR$12,100 | 2304 | $2,551 | 1262.00 | 929.78 | 1031.96 | 13.0 | 11.7 | 962.92 | 1067.94 | 1155.26 | 11.3 | 10.5 | 8.1 | 6.0% | |||||||
| Walter Energy | WLT | 2.7 | US$12.94 | 63 | $810 | 0.49 | (2.88) | (1.13) | -- | -- | 5.28 | 2.49 | 4.31 | 5.2 | 3.0 | 20.3 | 0.3% | |||||||
| Yanzhou Coal Mining Co Ltd (HK) | 1171 | 3.7 | CNY$5.44 | 1958 | $1,742 | 0.87 | 0.20 | 0.40 | 27.5 | 13.6 | 1.32 | 0.77 | 1.48 | 7.1 | 3.7 | 10.9 | 6.6% | |||||||
| Average | 23.7 | 14.0 | 6.6 | 5.5 | 10.6 | |||||||||||||||||||
| Small Cap | ||||||||||||||||||||||||
| Borneo Lumbung Energi & Mtl (ID) | BORN | 3.0 | IDR$200 | 17693 | $324 | 1.28 | 68.47 | 50.14 | 2.9 | 4.0 | -- | 113.32 | 130.52 | 1.8 | 1.5 | 4.9 | -- | |||||||
| China Qinfa Group Ltd (HK) | 866 | 3.5 | CNY$0.49 | 2078 | $166 | 0.16 | 0.09 | 0.14 | 5.2 | 3.5 | (0.33) | -- | -- | -- | -- | 6.8 | 8.1% | |||||||
| Cloud Peak Energy | CLD | 2.6 | US$15.74 | 61 | $958 | 2.15 | 0.74 | 0.91 | 21.3 | 17.3 | 4.06 | 2.65 | 3.22 | 6.0 | 4.9 | 6.2 | -- | |||||||
| Fushan Int'l Energy Group (HK) | 639 | 2.9 | HK$2.60 | 5302 | $1,777 | 0.34 | 0.22 | 0.22 | 11.7 | 11.6 | 0.25 | 0.48 | 0.35 | 5.4 | 7.5 | -- | 5.8% | |||||||
| James River Coal Co | JRCC | 3.1 | US$2.12 | 36 | $76 | (3.96) | (4.75) | (4.13) | -- | -- | 0.93 | (0.54) | (1.10) | -- | -- | -- | -- | |||||||
| New World Resources (UK) | NWRN | 3.8 | EUR$0.80 | 265 | $281 | (0.02) | (0.86) | (0.46) | -- | -- | 0.29 | (0.18) | 0.06 | -- | 13.3 | -- | -- | |||||||
| Sakari Resources Ltd (SP) | SAR | -- | US$1.45 | 1137 | $1,646 | 0.09 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 7.1 | 5.4% | |||||||
| SouthGobi Energy Res (CN) | SGQ | 2.5 | US$1.17 | 182 | $214 | (0.23) | (0.22) | (0.08) | -- | -- | (0.12) | (0.20) | (0.05) | -- | -- | -- | -- | |||||||
| Average | 10.3 | 9.1 | 4.4 | 6.8 | 6.3 | |||||||||||||||||||
| Limited Partnership | ||||||||||||||||||||||||
| Alliance Resource Partners LP | ARLP | 2.1 | US$75.28 | 37 | $2,783 | 6.12 | 7.34 | 7.12 | 10.3 | 10.6 | 15.08 | 12.82 | 12.41 | 5.9 | 6.1 | 4.9 | 6.1% | |||||||
| Natural Resource Partners LP | NRP | 2.1 | US$19.61 | 110 | $2,153 | 2.00 | 1.54 | 1.71 | 12.8 | 11.4 | 2.56 | 2.52 | 2.36 | 7.8 | 8.3 | 10.8 | 11.2% | |||||||
| Oxford Resource Partners LP | OXF | 3.3 | US$2.31 | 21 | $48 | (0.83) | (0.99) | (1.18) | -- | -- | -- | 0.57 | 0.58 | 4.1 | 4.0 | 4.1 | -- | |||||||
| Penn Virginia Resource Prtns LP | PVR | 2.5 | US$23.21 | 96 | $2,222 | 0.38 | 0.31 | 0.66 | 75.3 | 35.0 | 1.68 | 1.89 | 2.20 | 12.3 | 10.5 | -- | 9.5% | |||||||
| Rhino Resources Inc | RNO | 2.7 | US$12.64 | 28 | $350 | 1.42 | 0.38 | 0.20 | 33.3 | 62.2 | 5.20 | 1.62 | 1.40 | 7.8 | 9.0 | 5.6 | 14.1% | |||||||
| Average | 32.9 | 29.8 | 7.6 | 7.6 | 6.3 | |||||||||||||||||||
| 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) | Source: Thomson One Analytics. | |||||||||||||||||||||||
| Recent and Forecast Commodity Prices | ||||||||||||||||||||||||
| Cash Price (30-Aug-13) | 2010 | 2011 | 2012 | 2013E | 2014E | Q1/12 | Q2/12 | Q3/12 | Q4/12 | Q1/13 | Q2/13 | Q3/13E | Q4/13E | Q1/14E | Q2/14E | Q3/14E | Q4/14E | |||||||
| Aluminum ($0.81 / lb) | $0.99 | $1.09 | $0.92 | $0.89 | $0.93 | $0.99 | $0.94 | $0.92 | $0.91 | $0.91 | $0.83 | $0.86 | $0.87 | $0.90 | $0.86 | $0.88 | $0.93 | |||||||
| Copper ($3.22 / lb) | $3.43 | $4.00 | $3.61 | $3.41 | $3.38 | $3.77 | $3.68 | $3.62 | $3.59 | $3.59 | $3.25 | $3.32 | $3.36 | $3.32 | $3.39 | $3.37 | $3.43 | |||||||
| Lead ($0.98 / lb) | $0.97 | $1.09 | $0.94 | $0.97 | $0.99 | $0.95 | $0.92 | $0.91 | $1.00 | $1.04 | $0.93 | $0.96 | $0.96 | $1.01 | $0.99 | $1.00 | $1.02 | |||||||
| Nickel ($6.24 / lb) | $9.91 | $10.38 | $7.95 | $7.32 | $7.64 | $8.90 | $8.34 | $8.02 | $7.70 | $7.85 | $6.80 | $7.15 | $7.26 | $7.19 | $7.24 | $7.40 | $7.37 | |||||||
| Zinc ($0.85 / lb) | $0.98 | $1.00 | $0.88 | $0.90 | $0.96 | $0.92 | $0.90 | $0.88 | $0.88 | $0.92 | $0.84 | $0.89 | $0.90 | $0.94 | $0.94 | $0.98 | $1.01 | |||||||
| Gold ($1397 / oz) | $1,226 | $1,571 | $1,668 | $1,470 | $1,437 | $1,689 | $1,652 | $1,653 | $1,718 | $1,632 | $1,417 | $1,364 | $1,376 | $1,371 | $1,409 | $1,409 | $1,424 | |||||||
| Palladium ($722 / oz) | $528 | $733 | $643 | $730 | $784 | $681 | $655 | $640 | $652 | $739 | $713 | $712 | $736 | $775 | $795 | $810 | $820 | |||||||
| Platinum ($1521 / oz) | $1,611 | $1,719 | $1,549 | $1,598 | $1,661 | $1,600 | $1,554 | $1,536 | $1,598 | $1,632 | $1,467 | $1,517 | $1,565 | $1,675 | $1,767 | $1,783 | $1,800 | |||||||
| Silver ($23.53 / oz) | $20.24 | $35.29 | $31.13 | $26.03 | $25.14 | $32.53 | $31.06 | $30.68 | $32.58 | $30.07 | $23.18 | $22.88 | $23.20 | $22.19 | $23.76 | $23.80 | $24.19 | |||||||
| Uranium ($35.00 / lb) | $45.97 | $56.32 | $48.97 | $46.76 | $58.20 | $51.91 | $51.62 | $50.81 | $43.42 | $42.84 | $40.72 | $42.25 | $46.13 | $47.50 | $50.00 | $50.00 | $50.00 | |||||||
| Base metal prices are LME cash prices quoted in US$ 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.
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