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Metals & Mining Analysts' Ratings & Estimates - Juniors
Monday December 29, 2014 10:21Junior 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 | 26-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 | $51 | (0.25) | (0.18) | (0.12) | (0.16) | 0.12 | -- | -- | -- | 1.3 | Fe ore/Sierra Leone | ||||||||
| Alderon Iron Ore Corp | AXX | 2.0 | C$0.38 | 130 | $43 | (0.09) | (0.07) | (0.08) | (0.16) | (0.01) | -- | -- | -- | -- | Fe ore/Canada | ||||||||
| Atlas Iron Ltd (AU) | AGO | 3.5 | AUD$0.14 | 919 | $104 | -- | -- | (0.10) | (0.07) | 0.02 | -- | -- | -- | 6.9 | Fe ore/Australia | ||||||||
| Brockman Resources Ltd (AU) | BRM | 2.0 | AUD$0.33 | 8382 | $356 | -- | -- | (0.01) | -- | -- | -- | -- | -- | -- | Fe ore/Australia | ||||||||
| Equatorial Resources Ltd (CN) | EQX | 2.0 | AUD$0.23 | 124 | $23 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Fe ore/Republic of Congo | ||||||||
| Gindalbie Metals (AU) | GBG | 4.0 | AUD$0.02 | 1495 | $24 | -- | -- | (0.03) | -- | -- | -- | -- | -- | -- | Fe ore/Australia | ||||||||
| Grange Resources Ltd (AU) | GRR | 3.0 | AUD$0.11 | 1157 | $103 | 0.02 | 0.04 | (0.02) | (0.02) | -- | 3.1 | -- | -- | -- | Fe ore/Australia | ||||||||
| IRC Ltd (HK) | 1029 | 2.8 | US$0.07 | 4860 | $326 | (0.01) | (0.02) | (0.00) | 0.01 | -- | -- | -- | 6.7 | -- | Fe ore/Russia | ||||||||
| MMX Mineracao E Metalicos (BZ) | MMXM3 | -- | BRL$0.58 | 162 | $35 | (2.26) | -- | -- | -- | -- | -- | -- | -- | -- | Fe ore/Brazil | ||||||||
| New Millenium Iron Corp (CN) | NML | 3.0 | C$0.17 | 181 | $26 | (0.04) | (0.04) | 0.05 | 0.01 | -- | -- | 3.5 | 12.4 | -- | Fe ore/Canada | ||||||||
| Sundance Resources Ltd (AU) | SDL | 2.3 | AUD$0.02 | 3082 | $47 | -- | -- | (0.00) | (0.00) | -- | -- | -- | -- | -- | Fe ore/Cameroon | ||||||||
| Average | 3.1 | 3.5 | 9.5 | 6.9 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | |||||||||||||||||||||||
| Small-Cap Base Metals | |||||||||||||||||||||||
| Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | |||||||||||||||||||
| Symbol | Rating | 26-Dec-14 | (MM) | (US$MM) | 2013 | 2014E | 2015E | 2016E | 2017E | 2014E | 2015E | 2016E | 2017E | Commodity/Country | |||||||||
| Anglo Pacific Group PLC (UK) | APF | 2.4 | GBP$0.93 | 116 | $168 | 8.39 | 0.01 | 0.05 | 14.23 | -- | 89.5 | 17.2 | 6.5 | -- | Royalties | ||||||||
| Copper Mountain Mining (CN) | CUM | 2.1 | C$1.54 | 119 | $157 | 0.14 | 0.20 | 0.38 | 0.46 | 0.51 | 7.6 | 4.1 | 3.4 | 3.0 | Cu, Au/Canada | ||||||||
| Katanga Mining Ltd (CN) | KAT | 3.0 | US$0.28 | 1907 | $542 | 0.05 | 0.01 | 0.11 | 0.15 | -- | 28.4 | 2.6 | 1.9 | -- | Cu, Co/DR Congo | ||||||||
| Kenmare Resources (UK) | KMR | 2.3 | US$0.05 | 2782 | $141 | (0.02) | (0.02) | 0.00 | 0.02 | -- | -- | 50.7 | 3.0 | -- | Ti sands/Mozambique | ||||||||
| Largo Resources (CN) | LGO | 1.7 | C$1.65 | 109 | $155 | (0.10) | (0.03) | 0.21 | 0.38 | 0.37 | -- | 8.0 | 4.4 | 4.5 | V/Brazil | ||||||||
| Metals X Ltd (AU) | MLX | 1.3 | AUD$0.77 | 414 | $258 | -- | -- | 0.15 | 0.20 | -- | -- | 5.1 | 3.8 | -- | Sn, Ni/Australia | ||||||||
| Nautilus Minerals (CN) | NUS | 2.0 | US$0.36 | 445 | $161 | (0.06) | (0.03) | (0.03) | (0.02) | -- | -- | -- | -- | -- | seafloor Cu, Pb, Zn, Au, Ag/PNG | ||||||||
| NGEx Resources Inc (CN) | NGQ | 1.8 | C$1.03 | 188 | $166 | (0.17) | (0.12) | (0.12) | (0.11) | -- | -- | -- | -- | -- | Cu, Au/Chile, Canada | ||||||||
| OM Holdings Ltd (AU) | OMH | 2.0 | AUD$0.34 | 733 | $202 | (0.07) | (0.05) | 0.02 | 0.06 | -- | -- | 20.0 | 5.4 | -- | Mn/Australia | ||||||||
| PolyMet Mining Corp | PLM | 2.0 | C$1.19 | 276 | $282 | -- | (0.03) | (0.02) | (0.02) | -- | -- | -- | -- | -- | Cu, Ni/US | ||||||||
| Reservoir Minerals (CN) | RMC | 1.7 | C$4.00 | 48 | $164 | (0.12) | (0.17) | (0.09) | (0.11) | -- | -- | -- | -- | -- | Cu, Au/Serbia | ||||||||
| Sierra Metals (CN) | SMT | 2.0 | C$1.87 | 160 | $257 | (0.17) | 0.04 | 0.18 | 0.22 | 0.04 | 49.0 | 10.4 | 8.6 | 46.8 | Ag, Cu, Pb, Zn/Mexico, Peru | ||||||||
| Sirius Resources NL (AU) | SIR | 1.9 | AUD$2.47 | 341 | $683 | -- | -- | (0.06) | 0.04 | 0.63 | -- | -- | 57.2 | 3.9 | Ni, Cu/Australia | ||||||||
| Trevali Mining Corp (CN) | TV | 1.8 | C$1.09 | 281 | $264 | (0.07) | 0.02 | 0.11 | 0.20 | 0.21 | 62.0 | 10.4 | 5.6 | 5.3 | Zn, Pb, Cu, Ag/Canada, Peru | ||||||||
| Xinjiang Xinxin Mining (HK) | 3833 | 2.0 | CNY$1.11 | 759 | $136 | (0.03) | 0.09 | 0.09 | 0.10 | -- | 12.8 | 12.2 | 11.7 | -- | Ni, Cu, Co/China | ||||||||
| Average | 41.5 | 14.1 | 10.1 | 12.7 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | |||||||||||||||||||||||
| Micro-Cap Base Metals | |||||||||||||||||||||||
| Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | |||||||||||||||||||
| Symbol | Rating | 26-Dec-14 | (MM) | (US$MM) | 2013 | 2014E | 2015E | 2016E | 2017E | 2014E | 2015E | 2016E | 2017E | Commodity/Country | |||||||||
| Aditya Birla Minerals Ltd (AU) | ABY | 4.0 | AUD$0.19 | 313 | $50 | -- | -- | (0.13) | (0.11) | -- | -- | -- | -- | -- | Cu/Australia | ||||||||
| Altona Mining Ltd (AU) | AOH | 3.5 | AUD$0.23 | 535 | $102 | -- | -- | 0.01 | (0.02) | -- | -- | 31.3 | -- | -- | Cu, Ni/Finland, Australia | ||||||||
| Amerigo Resources Ltd (CN) | ARG | 1.5 | US$0.23 | 174 | $40 | 0.01 | (0.07) | 0.09 | 0.07 | 0.33 | -- | 2.7 | 3.3 | 0.7 | Cu/Chile | ||||||||
| Argex Titanium (CN) | RGX | 2.0 | C$0.47 | 143 | $59 | -- | -- | -- | (0.01) | 0.08 | -- | -- | -- | 5.9 | Ti/Canada | ||||||||
| Atico Mining Corp (CN) | ATY | 1.5 | C$0.61 | 98 | $51 | 0.01 | 0.02 | 0.09 | 0.10 | 0.07 | 40.2 | 7.1 | 6.0 | 8.3 | Cu, Au/Colombia | ||||||||
| China Mining Resources (HK) | 340 | -- | HK$0.07 | 9139 | $82 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Mo/China | ||||||||
| EMED Mining Public Co (CN) | EMD | 1.0 | C$0.09 | 1440 | $111 | (0.02) | (0.01) | (0.00) | 0.00 | 0.03 | -- | -- | -- | 2.6 | Cu/Spain | ||||||||
| Entrée Gold | EGI | 3.0 | C$0.21 | 147 | $27 | (0.08) | -- | -- | -- | -- | -- | -- | -- | -- | Cu, Au/Mongolia | ||||||||
| Fortune Minerals (CN) | FT | 2.0 | C$0.13 | 215 | $23 | -- | -- | -- | -- | -- | -- | -- | -- | -- | anthracite, Au, Bi, Co/Canada | ||||||||
| General Moly | GMO | 3.0 | US$0.64 | 92 | $59 | (0.24) | (0.12) | (0.13) | -- | -- | -- | -- | -- | -- | Mo/US | ||||||||
| Griffin Mining Ltd (UK) | GFM | 1.5 | GBP$0.29 | 179 | $81 | 0.02 | 0.01 | 0.07 | 11.01 | -- | 20.7 | 4.5 | 2.6 | -- | Zn/China | ||||||||
| Hillgrove Resources Ltd (AU) | HGO | 1.5 | AUD$0.46 | 148 | $54 | -- | 0.06 | 0.08 | 0.09 | 0.09 | 8.1 | 5.5 | 5.1 | 5.2 | Cu, Au/Australia, Indonesia | ||||||||
| Ivernia | IVW | 3.0 | US$0.03 | 801 | $24 | (0.07) | 0.00 | 0.05 | 0.06 | 0.06 | -- | 0.7 | 0.5 | 0.5 | Pb/Australia | ||||||||
| Mincor Resources NL (AU) | MCR | 2.0 | AUD$0.56 | 188 | $86 | -- | -- | 0.10 | 0.11 | 0.13 | -- | 5.9 | 5.0 | 4.4 | Ni, Au/Australia | ||||||||
| Mineral Deposits Ltd (AU) | MDL | 2.0 | US$0.60 | 104 | $62 | 0.14 | (0.16) | (0.14) | 0.30 | 0.40 | -- | -- | 2.0 | 1.5 | Ti sands/Senegal | ||||||||
| Nevada Copper Corp (CN) | NCU | 1.8 | C$1.50 | 81 | $104 | -- | (0.10) | 0.02 | 0.26 | -- | -- | 96.5 | 5.8 | -- | Cu/US | ||||||||
| Northern Dynasty Minerals | NAK | 3.0 | C$0.53 | 95 | $43 | (0.08) | (0.26) | (0.03) | (0.09) | -- | -- | -- | -- | -- | Cu, Au/US | ||||||||
| Orbite Aluminae Inc (CN) | ORT | 2.0 | C$0.26 | 320 | $72 | (0.08) | (0.05) | (0.05) | 0.00 | -- | -- | -- | -- | -- | bauxite/Canada | ||||||||
| Panoramic Resources Ltd (AU) | PAN | 2.0 | AUD$0.39 | 322 | $102 | -- | -- | 0.10 | 0.10 | 0.04 | -- | 3.8 | 3.8 | 10.8 | Ni/Australia | ||||||||
| Rex Minerals Ltd (AU) | RXM | 3.5 | AUD$0.09 | 221 | $16 | -- | -- | (0.02) | (0.02) | (0.02) | -- | -- | -- | -- | Cu/Australia | ||||||||
| Royal Nickel (CN) | RNC | 1.7 | C$0.31 | 110 | $29 | (0.07) | (0.08) | (0.03) | (0.04) | 0.25 | -- | -- | -- | 1.3 | Ni/Canada | ||||||||
| Wellgreen Platinum Corp (CN) | WG | 1.3 | C$0.65 | 109 | $61 | -- | (0.13) | (0.15) | -- | -- | -- | -- | -- | -- | Ni, Cu, Pt, Pd/Canada | ||||||||
| Western Copper Corp | WRN | 2.5 | C$0.64 | 94 | $52 | (0.01) | (0.02) | (0.04) | (0.04) | -- | -- | -- | -- | -- | Cu/Canada | ||||||||
| Zazu Metals Corp (CN) | ZAZ | 1.5 | US$0.29 | 48 | $14 | (0.04) | (0.04) | (0.02) | (0.01) | (0.01) | -- | -- | -- | -- | Zn,Pb, Ag/US | ||||||||
| Average | 23.0 | 17.5 | 3.8 | 4.1 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | |||||||||||||||||||||||
| Small-Cap Gold | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 26-Dec-14 | (MM) | (US$MM) | 2013 | 2014E | 2015E | 2016E | 2017E | 2014E | 2015E | 2016E | 2017E | Commodity/Country | |||||||||
| Asanko Gold | AKG | 1.9 | C$1.65 | 172 | $244 | (0.04) | (0.12) | (0.09) | 0.22 | 0.16 | -- | -- | 7.4 | 10.2 | Au/Ghana | ||||||||
| Beadell Resources Ltd (AU) | BDR | 2.1 | AUD$0.19 | 799 | $126 | 0.14 | 0.09 | 0.07 | 0.07 | 0.06 | 2.3 | 3.0 | 2.9 | 3.5 | Au/Brazil | ||||||||
| Continental Gold Ltd (CN) | CNL | 1.9 | US$1.49 | 127 | $189 | (0.14) | (0.07) | (0.12) | (0.10) | (0.07) | -- | -- | -- | -- | Au/Colombia | ||||||||
| Endeavour Mining Corp (CN) | EDV | 1.9 | US$0.34 | 413 | $139 | (0.08) | 0.03 | (0.01) | 0.10 | 0.07 | 12.8 | -- | 3.2 | 5.2 | Au/Mali, Ghana, Burkina Faso | ||||||||
| Evolution Mining Ltd (AU) | EVN | 3.0 | AUD$0.61 | 715 | $353 | -- | -- | 0.09 | 0.08 | 0.06 | -- | 7.0 | 7.8 | 10.0 | Au/Australia | ||||||||
| G-Resources Group Ltd (HK) | 1051 | 2.0 | US$0.02 | 26490 | $621 | -- | 0.00 | 0.00 | 0.00 | -- | 11.7 | 11.7 | 11.7 | -- | Au/Indonesia | ||||||||
| Gabriel Resources Ltd (CN) | GBU | 3.3 | C$0.34 | 384 | $114 | (0.01) | (0.02) | (0.02) | (0.03) | (0.03) | -- | -- | -- | -- | Au/Romania | ||||||||
| Guyana Goldfields Inc (CN) | GUY | 1.9 | C$2.57 | 150 | $332 | -- | (0.05) | 0.12 | 0.31 | -- | -- | 22.1 | 8.2 | -- | Au/Guyana | ||||||||
| Highland Gold Mining Ltd (UK) | HGM | 1.3 | US$0.42 | 325 | $135 | 0.17 | 0.17 | 0.15 | 0.15 | 0.09 | 2.5 | 2.7 | 2.8 | 4.7 | Au/Russia | ||||||||
| Kingsgate Consolidated Ltd (AU) | KCN | 3.8 | AUD$0.64 | 224 | $116 | -- | -- | 0.00 | 0.01 | (0.07) | -- | NM | NM | -- | Au/Thailand, Australia | ||||||||
| Klondex Mines Ltd (CN) | KDX | 1.8 | C$1.87 | 121 | $195 | (0.08) | 0.11 | 0.30 | 0.45 | 0.34 | 17.5 | 6.2 | 4.2 | 5.5 | Au/US | ||||||||
| McEwen Mining Inc. | UXG | 2.0 | US$1.09 | 270 | $295 | (0.01) | (0.01) | 0.04 | -- | -- | -- | 27.3 | -- | -- | Au, Ag, Cu/Mexico, US, Argentina | ||||||||
| Northern Star Resources (AU) | NST | 1.7 | AUD$1.39 | 592 | $667 | -- | -- | 0.25 | 0.28 | 0.16 | -- | 5.5 | 5.0 | 8.7 | Au/Australia | ||||||||
| Novagold Resources Inc | NG | 3.0 | C$3.30 | 317 | $901 | (0.21) | -- | -- | -- | -- | -- | -- | -- | -- | Au/US, Canada | ||||||||
| Premier Gold Mines Ltd (CN) | PG | 1.7 | C$1.78 | 159 | $244 | 0.07 | (0.06) | (0.06) | (0.04) | (0.05) | -- | -- | -- | -- | Au/Canada, US | ||||||||
| Pretium Resources | PVG | 2.0 | C$5.91 | 117 | $594 | (0.16) | (0.12) | (0.12) | 0.01 | (0.27) | -- | -- | NM | -- | Au, Ag, Cu/Canada | ||||||||
| Pan African Resources (UK) | PAF | 1.8 | GBP$0.11 | 1830 | $317 | -- | -- | 0.01 | 1.78 | 0.95 | -- | 7.5 | 6.3 | 11.7 | Au/Mozambique, South Africa | ||||||||
| Probe Mines Ltd (CN) | PRB | 2.3 | C$2.97 | 91 | $232 | -- | (0.27) | (0.23) | (0.04) | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Resolute Mining Ltd (AU) | RSG | 2.5 | AUD$0.22 | 641 | $117 | -- | -- | 0.05 | 0.07 | 0.04 | -- | 4.2 | 3.3 | 6.4 | Au/Tanzania, Australia | ||||||||
| Richmont Mines | RIC | 2.0 | C$3.47 | 48 | $143 | (0.26) | 0.16 | 0.02 | 0.29 | 0.26 | 21.5 | NM | 11.8 | 13.6 | Au/Canada | ||||||||
| Romarco Minerals Inc (CN) | R | 1.9 | US$0.40 | 725 | $293 | (0.02) | (0.02) | (0.02) | (0.00) | 0.06 | -- | -- | -- | 6.7 | Au/US | ||||||||
| Rubicon Minerals Corp | RBY | 2.0 | C$1.06 | 371 | $338 | (0.03) | (0.02) | (0.02) | 0.05 | 0.05 | -- | -- | 21.5 | 20.0 | Au/Canada | ||||||||
| Sandstorm Gold Ltd (CN) | SAND | 2.6 | US$3.22 | 118 | $379 | 0.16 | 0.08 | 0.05 | 0.06 | 0.08 | 41.1 | 59.3 | 56.0 | 42.0 | Au production stream financing | ||||||||
| Saracen Mineral Holdings (AU) | SAR | 2.6 | AUD$0.23 | 793 | $151 | -- | -- | 0.06 | 0.08 | -- | -- | 3.9 | 3.0 | -- | Au/Australia | ||||||||
| Seabridge Gold | SA | 1.5 | US$7.50 | 47 | $353 | (0.29) | (0.21) | (0.15) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Teranga Gold Corp (CN) | TGZ | 2.2 | US$0.34 | 353 | $121 | 0.18 | 0.07 | 0.14 | 0.17 | 0.14 | 5.2 | 2.4 | 2.0 | 2.5 | Au/Senegal | ||||||||
| Timmins Gold Corp | TGD | 2.2 | US$0.88 | 163 | $143 | 0.21 | 0.10 | 0.09 | 0.05 | 0.09 | 9.2 | 9.8 | 17.7 | 9.4 | Au/Mexico | ||||||||
| Virginia Mines Inc (CN) | VGQ | 3.0 | C$14.23 | 36 | $438 | -- | (0.11) | (0.08) | 0.14 | 0.21 | -- | -- | NM | 66.5 | Au/Canada | ||||||||
| Average | 13.7 | 12.3 | 10.3 | 14.2 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | |||||||||||||||||||||||
| Micro-Cap Gold | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 26-Dec-14 | (MM) | (US$MM) | 2013 | 2014E | 2015E | 2016E | 2017E | 2014E | 2015E | 2016E | 2017E | Commodity/Country | |||||||||
| Allied Nevada Gold | ANV | 3.8 | US$0.89 | 126 | $112 | 0.12 | (0.49) | (0.47) | (0.32) | (0.03) | -- | -- | -- | -- | Au. Ag/US | ||||||||
| Almaden Minerals Ltd | AAU | 2.0 | C$1.10 | 69 | $65 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Mexico | ||||||||
| Amara Mining PLC (UK) | AMA | 1.7 | US$0.24 | 329 | $78 | (0.08) | (0.07) | (0.02) | (0.01) | -- | -- | -- | -- | -- | Au/Cote d'Ivoire, Burkina Faso | ||||||||
| ATAC Resources Ltd (CN) | ATC | 2.5 | C$0.49 | 118 | $50 | (0.02) | (0.02) | (0.02) | (0.03) | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Atacama Pacific Gold Corp (CN) | ATM | 1.5 | C$0.35 | 56 | $17 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Chile | ||||||||
| Aureus Mining Inc (UK) | AUE | 1.7 | US$0.27 | 311 | $83 | (0.03) | (0.03) | 0.00 | 0.05 | 0.00 | -- | NM | 4.9 | -- | Au/Liberia, Sierra Leone | ||||||||
| Balmoral Resources Ltd (CN) | BAR | 2.0 | C$1.02 | 110 | $97 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Banro Corp | BAA | 4.0 | US$0.12 | 252 | $30 | 0.01 | (0.03) | (0.15) | (0.20) | -- | -- | -- | -- | -- | Au/DR Congo | ||||||||
| Belo Sun Mining (CN) | BSX | 2.1 | C$0.19 | 266 | $42 | (0.12) | (0.06) | (0.03) | (0.02) | 0.07 | -- | -- | -- | 2.6 | 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$1.90 | 44 | $73 | (0.16) | (0.10) | 0.01 | (0.06) | -- | -- | NM | -- | -- | Au/Mexico | ||||||||
| Doray Minerals (AU) | DRM | 2.0 | AUD$0.40 | 166 | $53 | -- | -- | 0.07 | 0.09 | 0.11 | -- | 5.4 | 4.2 | 3.7 | Au/Australia | ||||||||
| DRDGold Ltd (ADR) | DROOY | 3.5 | ZAR$1.89 | 385 | $63 | -- | -- | 0.07 | 0.02 | -- | -- | 26.1 | 99.2 | -- | Au/South Africa | ||||||||
| Eastmain Resouces Inc (CN) | ER | 2.0 | C$0.23 | 133 | $26 | (0.01) | (0.01) | (0.01) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Exeter Resource Corp | XRA | 2.0 | C$0.63 | 88 | $48 | (0.22) | -- | -- | -- | -- | -- | -- | -- | -- | Au/Chile | ||||||||
| Gold Canyon Resources (CN) | GCU | 4.0 | C$0.12 | 149 | $15 | (0.04) | (0.04) | (0.03) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Gold Standard Ventures | GSV | 2.0 | C$0.51 | 124 | $54 | (0.05) | (0.06) | (0.07) | (0.07) | 0.20 | -- | -- | -- | 2.6 | Au/US | ||||||||
| Golden Star Resources | GSS | 3.4 | US$0.22 | 259 | $56 | (0.08) | (0.09) | (0.05) | (0.03) | (0.02) | -- | -- | -- | -- | Au/Ghana | ||||||||
| Goldrock Mines Corp (CN) | GRM | 2.5 | C$0.22 | 90 | $17 | -- | (0.03) | (0.02) | 0.04 | -- | -- | -- | 6.3 | -- | Au/Argentina | ||||||||
| Gryphon Minerals Ltd (AU) | GRY | 2.2 | AUD$0.06 | 401 | $19 | -- | -- | (0.01) | 0.01 | 0.03 | -- | -- | 5.6 | 1.9 | Au/Burkina Faso | ||||||||
| Intrepid Mines Ltd (AU) | IAU | 2.0 | US$0.11 | 370 | $41 | (0.01) | (0.02) | (0.01) | (0.01) | -- | -- | -- | -- | -- | Au/Australia | ||||||||
| Kaminak Gold Corp (CN) | KAM | 1.8 | C$0.72 | 123 | $76 | -- | (0.17) | (0.07) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Lingbao Gold Co Ltd (HK) | 3330 | 3.0 | CNY$1.05 | 297 | $50 | (0.87) | -- | 0.06 | -- | -- | -- | 18.7 | -- | -- | Au/China | ||||||||
| Luna Gold Corp (CN) | LGC | 3.3 | US$0.29 | 141 | $41 | 0.08 | (0.07) | (0.04) | (0.03) | 0.02 | -- | -- | -- | 14.6 | Au/Brazil | ||||||||
| Lydian International (CN) | LYD | 2.1 | GBP$0.00 | 152 | $58 | (0.00) | (0.00) | (0.00) | (0.00) | 0.28 | -- | -- | -- | 1.4 | Au/Armenia | ||||||||
| Marlin Gold Mining Co (CN) | MLN | 1.5 | CNY$0.47 | 76 | $30 | (0.10) | (0.04) | (0.02) | 0.17 | 0.28 | -- | -- | 2.8 | 1.7 | Au/Mexico | ||||||||
| Medusa Mining Ltd (AU) | MML | 2.1 | US$0.52 | 208 | $107 | -- | -- | 0.26 | 0.30 | 0.13 | -- | 2.0 | 1.7 | 4.1 | Au/Philippines | ||||||||
| Midas Gold Corp (CN) | MAX | 2.0 | US$0.40 | 142 | $56 | (0.03) | (0.03) | (0.02) | (0.02) | (0.02) | -- | -- | -- | -- | Au/US | ||||||||
| Midway Gold Corp | MDW | 1.7 | C$0.73 | 175 | $110 | 0.00 | (0.10) | 0.02 | 0.06 | 0.16 | -- | 32.8 | 11.5 | 4.6 | Au/US | ||||||||
| Minera IRL Ltd (UK) | MIRL | 1.7 | US$0.05 | 231 | $11 | (0.05) | (0.11) | (0.03) | 0.05 | 0.09 | -- | -- | 1.0 | 0.5 | Au/Peru, Argentina | ||||||||
| Orca Gold (CN) | ORG | 2.0 | C$0.32 | 107 | $30 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Sudan | ||||||||
| Orezone Gold Corp (CN) | ORE | 2.1 | US$0.46 | 96 | $44 | (0.15) | (0.11) | (0.05) | (0.03) | (0.05) | -- | -- | -- | -- | Au/Bukina Faso | ||||||||
| Paramount Gold & Silver Corp | PZG | 2.2 | US$1.08 | 162 | $175 | -- | -- | (0.06) | -- | -- | -- | -- | -- | -- | Au, Ag/Mexico, US | ||||||||
| Petropavlovsk PLC (UK) | POG | 3.8 | US$0.10 | 198 | $19 | (0.34) | (0.30) | (0.24) | (0.17) | (0.06) | -- | -- | -- | -- | Au/Russia | ||||||||
| Roxgold Inc (CN) | ROG | 1.8 | C$0.54 | 288 | $134 | (0.03) | (0.03) | (0.03) | 0.20 | 0.18 | -- | -- | 2.7 | 3.0 | Au/Burkina Faso | ||||||||
| St Barbara Ltd (AU) | SBM | 2.0 | AUD$0.10 | 495 | $42 | -- | -- | 0.01 | 0.05 | 0.10 | -- | 21.0 | 2.0 | 1.1 | Au/Australia | ||||||||
| San Gold Corp (CN) | SGR | 5.0 | C$0.04 | 373 | $13 | (0.08) | (0.08) | (0.06) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Silver Lake Resources (AU) | SLR | 2.7 | AUD$0.16 | 503 | $63 | -- | -- | 0.04 | 0.05 | 0.09 | -- | 4.0 | 3.1 | 1.7 | Au/Australia | ||||||||
| Treasury Metals (CN) | TML | 2.0 | C$0.31 | 76 | $20 | -- | -- | -- | -- | 0.15 | -- | -- | -- | 2.0 | Au/Canada | ||||||||
| Troy Resources (AU) | TRY | 3.0 | AUD$1.18 | 111 | $113 | (0.01) | 0.09 | 0.01 | 0.06 | -- | 13.1 | NM | 19.7 | -- | Au/Australia | ||||||||
| True Gold Mining (CN) | TGM | 1.9 | C$0.24 | 399 | $82 | (0.14) | (0.04) | (0.03) | 0.10 | 0.01 | -- | -- | 2.5 | 24.0 | 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$0.28 | 82 | $23 | (0.68) | -- | -- | -- | -- | -- | -- | -- | -- | Au/Australia, Mexico, US | ||||||||
| Wesdome Gold Mines Ltd (CN) | WDO | 3.0 | C$1.18 | 111 | $113 | (0.01) | 0.09 | 0.01 | 0.06 | -- | 13.1 | NM | 19.7 | -- | Au/Canada | ||||||||
| Average | 13.1 | 15.7 | 12.5 | 7.7 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | |||||||||||||||||||||||
| Silver | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 26-Dec-14 | (MM) | (US$MM) | 2013 | 2014E | 2015E | 2016E | 2017E | 2014E | 2015E | 2016E | 2017E | Commodity/Country | |||||||||
| Alexco Resource Corp | AXU | 2.0 | C$0.56 | 70 | $34 | (0.07) | (0.12) | (0.02) | 0.15 | 0.16 | -- | -- | 3.7 | 3.5 | Ag/Canada | ||||||||
| Aurcana Corp (CN) | AUN | 4.0 | US$0.24 | 85 | $20 | -- | (0.14) | 0.03 | 0.17 | -- | -- | 7.9 | 1.4 | -- | Ag/Mexico, US | ||||||||
| Bear Creek Mining Corp (CN) | BCM | 2.0 | US$1.08 | 93 | $100 | (0.23) | (0.14) | (0.07) | (0.10) | (0.09) | -- | -- | -- | -- | Ag/Peru | ||||||||
| Excellon Resources (CN) | EXN | 2.0 | C$0.63 | 55 | $30 | -- | (0.02) | 0.11 | 0.13 | 0.12 | -- | 5.7 | 4.8 | 5.2 | Ag, Pb, Zn/Mexico | ||||||||
| Mag Silver Corp | MVG | 2.1 | US$6.80 | 69 | $468 | (0.49) | (0.15) | (0.16) | (0.10) | (0.09) | -- | -- | -- | -- | Ag/Mexico | ||||||||
| Minco Silver Corp (CN) | MSV | 4.0 | C$0.61 | 60 | $31 | (0.05) | (0.05) | (0.08) | -- | -- | -- | -- | -- | -- | Ag/China | ||||||||
| Sabina Gold & Silver Corp (CN) | SBB | 2.3 | C$0.34 | 194 | $58 | (0.05) | (0.02) | 0.00 | 0.00 | -- | -- | -- | -- | -- | Ag, Zn/Canada | ||||||||
| SantaCruz Silver Mining Ltd (CN) | SCZ | 2.0 | US$0.32 | 103 | $33 | (0.07) | (0.05) | (0.01) | 0.00 | 0.06 | -- | -- | -- | 5.1 | Ag/Mexico | ||||||||
| Scorpio Mining Corp (CN) | SPM | 1.0 | C$0.21 | 199 | $36 | (0.02) | (0.01) | 0.09 | -- | -- | -- | 2.3 | -- | -- | Ag, Zn/Mexico | ||||||||
| Silver Bull Resources | SVBL | 3.0 | US$0.14 | 159 | $21 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Ag, Zn/Mexico | ||||||||
| US Silver & Gold (CN) | USA | 2.0 | C$0.34 | 82 | $24 | (0.29) | (0.08) | (0.03) | 0.02 | -- | -- | -- | 14.7 | -- | Ag/US | ||||||||
| Wildcat Silver Corp (CN) | WS | -- | C$0.43 | 148 | $54 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Ag/US | ||||||||
| Average | 5.3 | 6.2 | 4.6 | ||||||||||||||||||||
| Platinum Group Metals | |||||||||||||||||||||||
| Atlatsa Resources Corp | ATL | 4.0 | C$0.21 | 554 | $100 | 0.08 | (0.06) | (0.04) | (0.01) | -- | -- | -- | -- | -- | Pt/South Africa | ||||||||
| Eastern Platinum Ltd (CN) | ELR | 2.5 | US$1.24 | 93 | $115 | (0.10) | 0.07 | 0.03 | (0.05) | -- | 17.7 | 41.3 | -- | -- | Pt/South Africa | ||||||||
| North American Palladium | PAL | 4.3 | C$0.16 | 378 | $52 | (0.21) | (0.13) | (0.03) | 0.00 | -- | -- | -- | -- | -- | Pd/\Canada | ||||||||
| Wesizwe Platinum Ltd (SA) | WEZ | 4.0 | ZAR$0.83 | 1628 | $116 | -- | (0.03) | (0.04) | (0.04) | -- | -- | -- | -- | -- | Pt/South Africa | ||||||||
| Average | 17.7 | 41.3 | |||||||||||||||||||||
| Specialty Metals | |||||||||||||||||||||||
| Alkane Resources Ltd (AU) | ALK | 2.0 | AUD$0.20 | 414 | $69 | -- | -- | 0.04 | -- | -- | -- | 5.8 | -- | -- | Zr, Nb, REE/Australia | ||||||||
| Avalon Rare Metals | AVL | 3.0 | C$0.24 | 126 | $26 | -- | -- | (0.08) | -- | -- | -- | -- | -- | -- | REE/Canada | ||||||||
| China Rare Earth Holdings (HK) | 769 | -- | HK$0.96 | 1673 | $207 | -- | -- | -- | -- | -- | -- | -- | -- | -- | REE/China | ||||||||
| Focus Graphite (CN) | FMS | 1.0 | C$0.47 | 111 | $45 | -- | (0.06) | (0.04) | -- | -- | -- | -- | -- | -- | graphite/Canada | ||||||||
| Lynas Corp Ltd (AU) | LYC | 2.6 | AUD$0.06 | 3371 | $164 | -- | -- | (0.01) | 0.01 | 0.03 | -- | -- | 6.1 | 2.0 | REE/Australia, Malaysia | ||||||||
| Molycorp | MCP | 3.2 | US$0.77 | 245 | $189 | (1.09) | (1.33) | (0.62) | 0.10 | -- | -- | -- | 7.7 | -- | REE/US | ||||||||
| Tasman Metals Ltd | TAS | 2.0 | C$0.57 | 66 | $32 | -- | -- | -- | -- | -- | -- | -- | -- | -- | REE/Sweden | ||||||||
| Average | 5.8 | 6.9 | 2.0 | ||||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | |||||||||||||||||||||||
| Uranium | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 26-Dec-14 | (MM) | (US$MM) | 2013 | 2014E | 2015E | 2016E | 2017E | 2014E | 2015E | 2016E | 2017E | Commodity/Country | |||||||||
| Berkeley Resources Ltd (AU) | BKY | 1.0 | AUD$0.26 | 180 | $38 | -- | -- | (0.05) | (0.06) | (0.00) | -- | -- | -- | -- | U/Spain | ||||||||
| Energy Fuels (CN) | EFR | 1.6 | C$7.32 | 20 | $124 | (1.71) | (1.79) | (0.31) | (0.47) | (0.35) | -- | -- | -- | -- | U/US | ||||||||
| Fission Uranium Corp (CN) | FCU | 1.6 | C$0.93 | 363 | $291 | -- | (0.02) | (0.01) | (0.01) | -- | -- | -- | -- | -- | U/Canada | ||||||||
| Kivalliq Energy Corp (CN) | KIV | 2.0 | C$0.17 | 196 | $30 | 0.00 | (0.01) | -- | -- | -- | -- | -- | -- | -- | U/Canada | ||||||||
| Laramide Resources Ltd (CN) | LAM | 3.0 | C$0.37 | 79 | $25 | (0.03) | -- | -- | -- | -- | -- | -- | -- | -- | U/Australia | ||||||||
| Toro Energy Ltd (AU) | TOE | 2.5 | AUD$0.08 | 1630 | $108 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 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$1.04 | 129 | $116 | (0.26) | (0.05) | 0.00 | 0.07 | 0.13 | -- | NM | 13.9 | 7.8 | U/US | ||||||||
| Uranerz Energy Corp | URZ | 1.5 | US$1.14 | 96 | $110 | (0.33) | (0.15) | (0.08) | 0.03 | 0.21 | -- | -- | 38.1 | 5.4 | U/US | ||||||||
| Uranium Energy Corp | UEC | 1.8 | US$1.67 | 92 | $153 | -- | -- | (0.04) | 0.16 | 0.26 | -- | -- | 10.3 | 6.4 | U/US | ||||||||
| Average | 20.8 | 6.6 | |||||||||||||||||||||
| Coal | |||||||||||||||||||||||
| Cokal Ltd (AU) | CKA | 2.5 | AUD$0.08 | 471 | $30 | -- | -- | (0.03) | 0.02 | 0.08 | -- | -- | 4.0 | 1.1 | coal/Indonesia, Tanzania | ||||||||
| Tigers Realm Coal (AU) | TIG | 2.0 | AUD$0.12 | 894 | $87 | (0.02) | (0.01) | (0.01) | (0.01) | 0.00 | -- | -- | -- | -- | coal/Russia | ||||||||
| Average | 4.0 | 1.1 | |||||||||||||||||||||
| Fertilizers | |||||||||||||||||||||||
| Allana Potash Corp (CN) | AAA | -- | C$0.33 | 325 | $92 | -- | -- | -- | -- | -- | -- | -- | -- | -- | potash/Ethiopia | ||||||||
| Arianne Phosphate (CN) | DAN | 2.0 | C$0.80 | 95 | $66 | -- | -- | -- | -- | -- | -- | -- | -- | -- | phosphate/Canada | ||||||||
| IC Potash Corp (CN) | ICP | 1.5 | C$0.23 | 173 | $34 | (0.04) | -- | -- | (0.06) | (0.08) | -- | -- | -- | -- | potash/US | ||||||||
| Karnalyte Resources Inc (CN) | KRN | 3.0 | C$0.77 | 27 | $18 | (0.25) | (0.26) | -- | -- | -- | -- | -- | -- | -- | potash/Canada | ||||||||
| Sirius Minerals PLC (UK) | SXX | 1.3 | GBP$0.10 | 1896 | $302 | -- | -- | (0.01) | (0.35) | -- | -- | -- | -- | -- | potash/UK | ||||||||
| Western Potash Corp (CN) | WPX | 3.0 | C$0.23 | 227 | $46 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 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 (26-Dec-14) | 2010 | 2011 | 2012 | 2013 | 2014E | 2015E | 2016E | 2017E | 2018E | ||||||||||||||
| Aluminum ($0.93 / lb) | $0.99 | $1.09 | $0.92 | $0.84 | $0.87 | $0.93 | $0.98 | $1.03 | $1.13 | ||||||||||||||
| Copper ($2.89 / lb) | $3.43 | $4.00 | $3.61 | $3.33 | $3.13 | $3.12 | $3.18 | $3.25 | $3.28 | ||||||||||||||
| Lead ($0.84 / lb) | $0.97 | $1.09 | $0.94 | $0.97 | $0.98 | $1.00 | $1.01 | $1.00 | $0.99 | ||||||||||||||
| Nickel ($6.93 / lb) | $9.91 | $10.38 | $7.95 | $6.81 | $7.93 | $8.83 | $9.08 | $9.18 | $9.36 | ||||||||||||||
| Zinc ($0.98 / lb) | $0.98 | $1.00 | $0.88 | $0.87 | $0.98 | $1.07 | $1.14 | $1.17 | $1.16 | ||||||||||||||
| Gold ($1196 / oz) | $1,226 | $1,571 | $1,668 | $1,411 | $1,279 | $1,275 | $1,296 | $1,275 | $1,282 | ||||||||||||||
| Palladium ($815 / oz) | $528 | $733 | $643 | $725 | $825 | $864 | $879 | $878 | $919 | ||||||||||||||
| Platinum ($1212 / oz) | $1,611 | $1,719 | $1,549 | $1,485 | $1,460 | $1,450 | $1,509 | $1,528 | $1,526 | ||||||||||||||
| Silver ($16.09 / oz) | $20.24 | $35.29 | $31.13 | $23.82 | $19.91 | $19.70 | $20.26 | $20.34 | $20.24 | ||||||||||||||
| Uranium ($36.25 / lb) | $45.97 | $56.32 | $48.97 | $40.42 | $34.51 | $44.39 | $51.20 | $59.51 | $64.71 | ||||||||||||||
| Base metal prices are LME cash prices quoted in US$ 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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