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Metals & Mining Analysts' Ratings & Estimates - Juniors
Monday April 27, 2015 14:43Senior Producers, Larger-Cap Near-Term Production
| Iron Ore | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Alderon Iron Ore Corp | AXX | 2.4 | C$0.29 | 132 | $32 | (0.06) | (0.04) | (0.04) | (0.03) | -- | -- | -- | -- | -- | Fe ore/Canada | ||||||||
| Atlas Iron Ltd (AU) | AGO | 3.5 | AUD$0.12 | 919 | $86 | -- | (0.15) | (0.10) | 0.04 | 0.03 | -- | -- | 3.4 | 4.0 | Fe ore/Australia | ||||||||
| Brockman Resources Ltd (AU) | BRM | 2.0 | AUD$0.31 | 8382 | $330 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Fe ore/Australia | ||||||||
| Equatorial Resources Ltd (CN) | EQX | 2.0 | AUD$0.21 | 124 | $20 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 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 | 3.3 | AUD$0.11 | 1157 | $99 | 0.07 | (0.00) | (0.00) | 0.00 | -- | -- | -- | 36.7 | -- | Fe ore/Australia | ||||||||
| IRC Ltd (HK) | 1029 | 3.0 | US$0.06 | 4860 | $301 | (0.01) | (0.01) | 0.00 | 0.01 | -- | -- | -- | 12.4 | -- | Fe ore/Russia | ||||||||
| MMX Mineracao E Metalicos (BZ) | MMXM3 | -- | BRL$0.57 | 162 | $31 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Fe ore/Brazil | ||||||||
| New Millenium Iron Corp (CN) | NML | 3.5 | C$0.14 | 181 | $22 | (0.04) | 0.04 | (0.18) | (0.26) | -- | 4.1 | -- | -- | -- | Fe ore/Canada | ||||||||
| Average | 4.1 | 17.5 | 4.0 | ||||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics, company reports. | ||||||||||||||||||||||
| Small-Cap Base Metals | |||||||||||||||||||||||
| Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | |||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Anglo Pacific Group PLC (UK) | APF | 2.3 | GBP$0.94 | 170 | $241 | (2.51) | 0.04 | 0.07 | 10.25 | -- | 25.8 | 13.7 | 9.2 | -- | Royalties | ||||||||
| Copper Mountain Mining (CN) | CUM | 2.2 | C$1.15 | 119 | $113 | 0.09 | 0.13 | 0.31 | 0.42 | 0.63 | 8.8 | 3.7 | 2.7 | 1.8 | Cu, Au/Canada | ||||||||
| Katanga Mining Ltd (CN) | KAT | 3.0 | US$0.22 | 1907 | $416 | 0.02 | 0.09 | 0.15 | -- | -- | 2.4 | 1.5 | -- | -- | Cu, Co/DR Congo | ||||||||
| Kenmare Resources (UK) | KMR | 2.4 | US$0.04 | 2782 | $124 | (0.02) | (0.01) | 0.01 | -- | -- | -- | 5.2 | -- | -- | Ti sands/Mozambique | ||||||||
| Metals X Ltd (AU) | MLX | 1.8 | AUD$1.35 | 416 | $437 | -- | 0.15 | 0.25 | 0.32 | -- | 9.2 | 5.3 | 4.2 | -- | Sn, Ni/Australia | ||||||||
| Nautilus Minerals (CN) | NUS | 2.0 | US$0.38 | 445 | $169 | (0.03) | (0.03) | (0.03) | (0.06) | -- | -- | -- | -- | -- | seafloor Cu, Pb, Zn, Au, Ag/PNG | ||||||||
| NGEx Resources Inc (CN) | NGQ | 1.8 | C$0.93 | 188 | $144 | (0.13) | (0.09) | (0.09) | -- | -- | -- | -- | -- | -- | Cu, Au/Chile, Canada | ||||||||
| OM Holdings Ltd (AU) | OMH | 2.0 | AUD$0.29 | 733 | $165 | (0.09) | 0.02 | 0.06 | -- | -- | 17.1 | 4.6 | -- | -- | Mn/Australia | ||||||||
| Panoramic Resources Ltd (AU) | PAN | 2.5 | AUD$0.48 | 321 | $120 | -- | 0.04 | 0.07 | 0.04 | (0.01) | 12.8 | 7.3 | 12.5 | -- | Ni/Australia | ||||||||
| PolyMet Mining Corp | PLM | 2.3 | C$1.52 | 276 | $346 | -- | (0.02) | (0.05) | -- | -- | -- | -- | -- | -- | Cu, Ni/US | ||||||||
| Reservoir Minerals (CN) | RMC | 2.0 | C$4.32 | 48 | $170 | (0.20) | (0.12) | (0.10) | (0.15) | -- | -- | -- | -- | -- | Cu, Au/Serbia | ||||||||
| Sierra Metals (CN) | SMT | 2.0 | C$1.55 | 160 | $204 | 0.06 | 0.15 | 0.20 | -- | -- | 10.6 | 7.7 | -- | -- | Ag, Cu, Pb, Zn/Mexico, Peru | ||||||||
| Sirius Resources NL (AU) | SIR | 1.9 | AUD$2.64 | 342 | $701 | -- | (0.04) | 0.05 | 0.47 | 0.71 | -- | 57.5 | 5.6 | 3.7 | Ni, Cu/Australia | ||||||||
| Trevali Mining Corp (CN) | TV | 1.8 | C$1.12 | 286 | $264 | (0.02) | 0.08 | 0.17 | 0.21 | 0.19 | 14.8 | 6.6 | 5.3 | 6.0 | Zn, Pb, Cu, Ag/Canada, Peru | ||||||||
| Xinjiang Xinxin Mining (HK) | 3833 | 4.0 | CNY$1.39 | 759 | $170 | 0.04 | 0.05 | 0.06 | 0.07 | -- | 26.8 | 23.6 | 19.6 | -- | Ni, Cu, Co/China | ||||||||
| Average | 14.2 | 12.4 | 8.5 | 3.8 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics, company reports. | ||||||||||||||||||||||
| Micro-Cap Base Metals | |||||||||||||||||||||||
| Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | |||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Aditya Birla Minerals Ltd (AU) | ABY | 4.0 | AUD$0.19 | 313 | $45 | -- | 0.00 | (0.04) | -- | -- | 61.7 | -- | -- | -- | Cu/Australia | ||||||||
| Altona Mining Ltd (AU) | AOH | 2.0 | AUD$0.10 | 535 | $44 | -- | (0.02) | (0.01) | 0.02 | (0.01) | -- | -- | 5.6 | -- | Cu, Ni/Finland, Australia | ||||||||
| Amerigo Resources Ltd (CN) | ARG | 1.5 | US$0.32 | 174 | $56 | (0.06) | 0.01 | 0.12 | 0.08 | 0.07 | 64.2 | 2.8 | 4.0 | 4.6 | Cu/Chile | ||||||||
| Argex Titanium (CN) | RGX | 2.0 | C$0.47 | 144 | $56 | -- | -- | -- | 0.39 | 0.58 | -- | -- | 1.2 | 0.8 | Ti/Canada | ||||||||
| Atico Mining Corp (CN) | ATY | 1.5 | C$0.45 | 98 | $36 | (0.03) | 0.05 | 0.06 | 0.07 | 0.09 | 9.4 | 7.0 | 6.1 | 4.9 | Cu, Au/Colombia | ||||||||
| China Mining Resources (HK) | 340 | -- | HK$0.20 | 12439 | $326 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Mo/China | ||||||||
| EMED Mining Public Co (CN) | EMD | 1.0 | C$0.09 | 1440 | $113 | (0.01) | (0.00) | 0.00 | 0.02 | -- | -- | -- | 3.9 | -- | Cu/Spain | ||||||||
| Entrée Gold | EGI | 3.0 | C$0.50 | 147 | $61 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Cu, Au/Mongolia | ||||||||
| General Moly | GMO | 3.0 | US$0.81 | 93 | $75 | (0.12) | (0.13) | (0.19) | -- | -- | -- | -- | -- | -- | Mo/US | ||||||||
| Griffin Mining Ltd (UK) | GFM | 1.5 | GBP$0.35 | 172 | $91 | 0.00 | 0.05 | 0.11 | -- | -- | 6.4 | 3.2 | -- | -- | Zn/China | ||||||||
| Hillgrove Resources Ltd (AU) | HGO | 1.5 | AUD$0.34 | 148 | $39 | 0.01 | 0.05 | 0.12 | -- | -- | 6.9 | 2.9 | -- | -- | Cu, Au/Australia, Indonesia | ||||||||
| Largo Resources (CN) | LGO | 2.7 | C$0.82 | 109 | $74 | (0.14) | (0.14) | 0.10 | -- | -- | -- | 8.6 | -- | -- | V/Brazil | ||||||||
| Mincor Resources NL (AU) | MCR | 2.6 | AUD$0.58 | 188 | $86 | -- | 0.05 | 0.09 | 0.11 | -- | 11.2 | 6.9 | 5.2 | -- | Ni, Au/Australia | ||||||||
| Mineral Deposits Ltd (AU) | MDL | 1.8 | US$0.62 | 104 | $65 | (0.18) | (0.23) | 0.16 | 0.20 | 0.34 | -- | 3.9 | 3.2 | 1.8 | Ti sands/Senegal | ||||||||
| Nevada Copper Corp (CN) | NCU | 1.8 | C$1.86 | 81 | $123 | (0.18) | (0.18) | (0.17) | 0.95 | -- | -- | -- | 2.0 | -- | Cu/US | ||||||||
| Northern Dynasty Minerals | NAK | 3.0 | C$0.49 | 105 | $42 | (0.33) | (0.02) | (0.02) | (0.02) | -- | -- | -- | -- | -- | Cu, Au/US | ||||||||
| Orbite Aluminae Inc (CN) | ORT | 2.0 | C$0.26 | 321 | $69 | (0.04) | (0.03) | (0.02) | -- | -- | -- | -- | -- | -- | bauxite/Canada | ||||||||
| Royal Nickel (CN) | RNC | 2.0 | C$0.28 | 110 | $25 | (0.10) | (0.05) | (0.04) | (0.04) | 0.07 | -- | -- | -- | 3.8 | Ni/Canada | ||||||||
| Wellgreen Platinum Corp (CN) | WG | 1.5 | C$0.43 | 112 | $40 | (0.06) | (0.11) | -- | -- | -- | -- | -- | -- | -- | Ni, Cu, Pt, Pd/Canada | ||||||||
| Western Copper Corp | WRN | 2.3 | C$0.62 | 94 | $48 | (0.02) | (0.03) | (0.03) | (0.04) | -- | -- | -- | -- | -- | Cu/Canada | ||||||||
| Average | 26.6 | 5.0 | 3.9 | 3.2 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson Consensus Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics, company reports. | ||||||||||||||||||||||
| Small-Cap Gold | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Asanko Gold | AKG | 1.9 | C$1.72 | 172 | $244 | (0.07) | (0.09) | 0.19 | (0.17) | 0.23 | -- | 8.9 | -- | 7.4 | Au/Ghana | ||||||||
| Beadell Resources Ltd (AU) | BDR | 1.9 | AUD$0.22 | 799 | $140 | 0.02 | 0.06 | 0.06 | 0.05 | 0.02 | 4.0 | 3.5 | 4.7 | 9.2 | Au/Brazil | ||||||||
| Continental Gold Ltd (CN) | CNL | 1.9 | US$1.62 | 127 | $206 | (0.19) | (0.08) | (0.07) | (0.09) | 0.27 | -- | -- | -- | 6.0 | Au/Colombia | ||||||||
| Endeavour Mining Corp (CN) | EDV | 1.8 | US$0.49 | 413 | $201 | 0.03 | 0.06 | 0.08 | 0.07 | 0.14 | 8.0 | 6.5 | 6.9 | 3.5 | Au/Mali, Ghana, Burkina Faso | ||||||||
| Evolution Mining Ltd (AU) | EVN | 2.7 | AUD$1.01 | 717 | $563 | -- | 0.16 | 0.16 | 0.09 | 0.10 | 6.5 | 6.3 | 10.7 | 10.5 | Au/Australia | ||||||||
| G-Resources Group Ltd (HK) | 1051 | 3.0 | US$0.03 | 26490 | $783 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- | -- | Au/Indonesia | ||||||||
| Gabriel Resources Ltd (CN) | GBU | 3.3 | C$0.42 | 384 | $133 | (0.02) | (0.02) | (0.03) | (0.03) | -- | -- | -- | -- | -- | Au/Romania | ||||||||
| Guyana Goldfields Inc (CN) | GUY | 1.9 | C$2.98 | 151 | $370 | (0.05) | 0.07 | 0.35 | 0.47 | -- | 42.3 | 8.5 | 6.4 | -- | Au/Guyana | ||||||||
| Highland Gold Mining Ltd (UK) | HGM | 2.3 | US$0.72 | 325 | $233 | 0.16 | 0.16 | 0.15 | 0.16 | 0.13 | 4.3 | 4.7 | 4.4 | 5.5 | Au/Russia | ||||||||
| Kingsgate Consolidated Ltd (AU) | KCN | 3.4 | AUD$0.70 | 224 | $123 | -- | 0.04 | 0.02 | (0.02) | (0.08) | 16.6 | 31.3 | -- | -- | Au/Thailand, Australia | ||||||||
| Northern Star Resources (AU) | NST | 2.6 | AUD$2.23 | 593 | $1,028 | -- | 0.32 | 0.40 | 0.36 | 0.27 | 7.0 | 5.6 | 6.2 | 8.2 | Au/Australia | ||||||||
| Novagold Resources Inc | NG | 3.0 | C$4.35 | 318 | $1,139 | (0.14) | (0.16) | (0.09) | -- | -- | -- | -- | -- | -- | Au/US, Canada | ||||||||
| Premier Gold Mines Ltd (CN) | PG | 1.6 | C$2.37 | 159 | $311 | (0.05) | (0.06) | (0.05) | (0.04) | 0.22 | -- | -- | -- | 10.6 | Au/Canada, US | ||||||||
| Pretium Resources | PVG | 2.0 | C$6.68 | 133 | $729 | (0.11) | (0.09) | (0.11) | (0.10) | 0.48 | -- | -- | -- | 13.9 | Au, Ag, Cu/Canada | ||||||||
| Pan African Resources (UK) | PAF | 2.3 | GBP$0.12 | 1831 | $317 | -- | 1.38 | 0.02 | 0.95 | -- | 8.3 | 7.4 | 12.1 | -- | Au/Mozambique, South Africa | ||||||||
| Resolute Mining Ltd (AU) | RSG | 2.4 | AUD$0.30 | 641 | $150 | -- | 0.08 | 0.08 | 0.03 | -- | 4.0 | 3.7 | 9.1 | -- | Au/Tanzania, Australia | ||||||||
| Richmont Mines | RIC | 2.0 | C$3.87 | 58 | $185 | 0.21 | 0.16 | 0.39 | 0.60 | 0.56 | 24.0 | 9.9 | 6.4 | 6.9 | Au/Canada | ||||||||
| Romarco Minerals Inc (CN) | R | 1.9 | US$0.37 | 1243 | $466 | (0.02) | (0.02) | (0.01) | 0.04 | 0.06 | -- | -- | 9.9 | 6.8 | Au/US | ||||||||
| Rubicon Minerals Corp | RBY | 2.0 | C$1.33 | 371 | $406 | (0.03) | (0.05) | 0.03 | 0.05 | 0.10 | -- | 40.5 | 27.1 | 14.0 | Au/Canada | ||||||||
| Sandstorm Gold Ltd (CN) | SAND | 2.6 | US$3.40 | 117 | $399 | 0.07 | 0.03 | 0.06 | 0.06 | 0.07 | NM | 59.5 | 56.7 | 48.6 | Au production stream financing | ||||||||
| Saracen Mineral Holdings (AU) | SAR | 1.7 | AUD$0.44 | 793 | $271 | -- | 0.06 | 0.08 | 0.10 | -- | 7.1 | 5.7 | 4.3 | -- | Au/Australia | ||||||||
| Seabridge Gold | SA | 1.0 | US$6.20 | 47 | $292 | (0.20) | (0.13) | -- | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Teranga Gold Corp (CN) | TGZ | 2.4 | US$0.51 | 353 | $180 | 0.06 | 0.09 | 0.09 | 0.16 | -- | 5.8 | 5.7 | 3.3 | -- | Au/Senegal | ||||||||
| Timmins Gold Corp | TGD | 2.4 | US$0.58 | 180 | $105 | 0.06 | 0.04 | 0.01 | 0.08 | 0.09 | 16.6 | 40.9 | 6.9 | 6.5 | Au/Mexico | ||||||||
| Average | 11.9 | 15.5 | 11.7 | 11.3 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics, company reports. | ||||||||||||||||||||||
| Micro-Cap Gold | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Almaden Minerals Ltd | AAU | 2.0 | C$0.98 | 73 | $59 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Mexico | ||||||||
| Amara Mining PLC (UK) | AMA | 1.5 | US$0.22 | 420 | $93 | (0.03) | (0.02) | (0.01) | (0.02) | -- | -- | -- | -- | -- | Au/Cote d'Ivoire, Burkina Faso | ||||||||
| ATAC Resources Ltd (CN) | ATC | 2.5 | C$0.52 | 118 | $50 | (0.02) | (0.02) | (0.02) | (0.02) | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Aureus Mining Inc (UK) | AUE | 1.3 | US$0.34 | 367 | $124 | (0.01) | 0.02 | 0.03 | 0.02 | 0.03 | 20.2 | 11.2 | 17.5 | 11.3 | Au/Liberia, Sierra Leone | ||||||||
| Banro Corp | BAA | 4.0 | US$0.21 | 252 | $53 | 0.00 | (0.12) | (0.22) | -- | -- | -- | -- | -- | -- | Au/DR Congo | ||||||||
| Belo Sun Mining (CN) | BSX | 2.0 | C$0.20 | 266 | $45 | (0.06) | (0.03) | (0.03) | (0.03) | -- | -- | -- | -- | -- | Au/Brazil | ||||||||
| Brazil Resources (CN) | BRI | 1.5 | C$0.74 | 81 | $49 | (0.07) | (0.07) | (0.08) | 0.00 | 0.05 | -- | -- | -- | 14.8 | Au/Brazil | ||||||||
| Chesapeake Gold Corp (CN) | CKG | 2.0 | C$2.00 | 44 | $73 | (0.19) | (0.06) | (0.06) | -- | -- | -- | -- | -- | -- | Au/Mexico | ||||||||
| Claude Resources | CGR | 1.6 | C$0.63 | 188 | $98 | 0.02 | 0.08 | 0.07 | 0.07 | 0.06 | 7.6 | 9.3 | 9.0 | 9.9 | Au/Canada | ||||||||
| Doray Minerals (AU) | DRM | 1.6 | AUD$0.44 | 240 | $83 | -- | 0.09 | 0.14 | 0.19 | 0.14 | 4.8 | 3.3 | 2.4 | 3.1 | Au/Australia | ||||||||
| DRDGold Ltd (ADR) | DROOY | 2.7 | ZAR$2.30 | 431 | $82 | -- | 0.19 | 0.22 | -- | -- | 12.0 | 10.2 | -- | -- | Au/South Africa | ||||||||
| Eastmain Resouces Inc (CN) | ER | 2.0 | C$0.41 | 133 | $45 | 0.01 | (0.01) | (0.01) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Exeter Resource Corp | XRA | 2.0 | C$0.69 | 88 | $50 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Chile | ||||||||
| Focus Minerals Ltd (AU) | FML | 3.0 | AUD$0.01 | 9137 | $46 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Australia | ||||||||
| Gold Canyon Resources (CN) | GCU | 4.0 | C$0.30 | 161 | $40 | (0.01) | (0.05) | -- | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Gold Standard Ventures | GSV | 2.0 | C$0.59 | 143 | $69 | (0.10) | (0.05) | (0.05) | 0.21 | 0.16 | -- | -- | 2.8 | 3.7 | Au/US | ||||||||
| Golden Star Resources | GSS | 3.4 | US$0.21 | 259 | $54 | (0.06) | (0.05) | (0.02) | 0.10 | 0.17 | -- | -- | 2.1 | 1.3 | Au/Ghana | ||||||||
| Goldrock Mines Corp (CN) | GRM | 2.3 | C$0.28 | 103 | $24 | (0.03) | (0.02) | (0.02) | -- | -- | -- | -- | -- | -- | Au/Argentina | ||||||||
| Gryphon Minerals Ltd (AU) | GRY | 2.5 | AUD$0.06 | 401 | $18 | -- | (0.01) | (0.00) | 0.03 | -- | -- | -- | 1.9 | -- | Au/Burkina Faso | ||||||||
| Intrepid Mines Ltd (AU) | IAU | 3.0 | US$0.09 | 370 | $33 | (0.01) | (0.01) | (0.01) | -- | -- | -- | -- | -- | -- | Au/Australia | ||||||||
| Kaminak Gold Corp (CN) | KAM | 1.7 | C$0.90 | 144 | $107 | (0.21) | (0.19) | (0.02) | -- | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Kingsrose Mining Ltd (AU) | KRM | 1.0 | AUD$0.25 | 359 | $70 | -- | 0.02 | 0.04 | 0.04 | 0.03 | 14.7 | 6.9 | 5.6 | 8.1 | Au/Indonesia | ||||||||
| Lingbao Gold Co Ltd (HK) | 3330 | 3.0 | CNY$1.33 | 297 | $64 | 0.04 | 0.06 | 0.11 | -- | -- | 23.7 | 11.9 | -- | -- | Au/China | ||||||||
| Luna Gold Corp (CN) | LGC | 3.8 | US$0.15 | 141 | $22 | (1.83) | (0.03) | (0.02) | (0.02) | -- | -- | -- | -- | -- | Au/Brazil | ||||||||
| Lydian International (CN) | LYD | 2.1 | GBP$0.00 | 185 | $81 | (0.00) | (0.00) | (0.00) | 0.00 | 0.28 | -- | -- | 6.2 | 1.6 | Au/Armenia | ||||||||
| Marlin Gold Mining Co (CN) | MLN | 1.7 | CNY$0.61 | 76 | $38 | (0.04) | (0.03) | 0.27 | -- | -- | -- | 2.2 | -- | -- | Au/Mexico | ||||||||
| Medusa Mining Ltd (AU) | MML | 1.8 | US$0.69 | 208 | $144 | -- | 0.25 | 0.28 | 0.13 | -- | 2.8 | 2.5 | 5.5 | -- | Au/Philippines | ||||||||
| Midas Gold Corp (CN) | MAX | 1.9 | US$0.34 | 142 | $48 | (0.01) | (0.02) | (0.02) | (0.02) | -- | -- | -- | -- | -- | Au/US | ||||||||
| Midway Gold Corp | MDW | 2.5 | C$0.43 | 180 | $64 | (0.19) | (0.03) | 0.05 | 0.09 | 0.01 | -- | 8.1 | 4.9 | 43.0 | Au/US | ||||||||
| Orca Gold (CN) | ORG | 2.0 | C$0.31 | 107 | $28 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Au/Sudan | ||||||||
| Orezone Gold Corp (CN) | ORE | 2.1 | US$0.34 | 96 | $33 | (0.12) | (0.05) | (0.04) | (0.06) | 0.08 | -- | -- | -- | 4.3 | Au/Bukina Faso | ||||||||
| Orvana Minerals Corp (CN) | ORV | 2.0 | US$0.29 | 137 | $39 | -- | 0.03 | 0.03 | 0.02 | 0.01 | 9.6 | 10.5 | 16.5 | 57.7 | Au, Cu/Spain, Bolivia | ||||||||
| Petropavlovsk PLC (UK) | POG | 3.8 | US$0.09 | 3301 | $282 | (0.10) | 0.03 | 0.01 | (0.00) | (0.02) | 2.9 | 6.8 | -- | -- | Au/Russia | ||||||||
| Roxgold Inc (CN) | ROG | 1.8 | C$0.59 | 288 | $140 | (0.02) | (0.03) | 0.09 | 0.12 | -- | -- | 6.7 | 4.8 | -- | Au/Burkina Faso | ||||||||
| St Barbara Ltd (AU) | SBM | 2.0 | AUD$0.38 | 495 | $146 | -- | 0.06 | 0.12 | 0.13 | -- | 6.9 | 3.2 | 2.9 | -- | Au/Australia | ||||||||
| Silver Lake Resources (AU) | SLR | 2.6 | AUD$0.18 | 503 | $70 | -- | 0.02 | 0.05 | 0.09 | -- | 7.5 | 3.4 | 2.1 | -- | Au/Australia | ||||||||
| Treasury Metals (CN) | TML | 1.5 | C$0.33 | 76 | $21 | (0.03) | (0.02) | (0.01) | (0.01) | -- | -- | -- | -- | -- | Au/Canada | ||||||||
| Troy Resources (AU) | TRY | 1.3 | AUD$1.15 | 111 | $105 | 0.12 | 0.06 | 0.16 | 0.16 | 0.15 | 20.9 | 7.4 | 7.2 | 7.7 | Au/Australia | ||||||||
| True Gold Mining (CN) | TGM | 2.4 | C$0.19 | 399 | $61 | (0.04) | (0.03) | 0.07 | 0.02 | 0.02 | -- | 2.7 | 9.3 | 9.3 | Au/Burkina Faso | ||||||||
| Victoria Gold Corp (CN) | VIT | 2.0 | C$0.14 | 340 | $38 | -- | (0.05) | (0.06) | (0.07) | 0.29 | -- | -- | -- | 0.5 | Au/Canada | ||||||||
| Wesdome Gold Mines Ltd (CN) | WDO | 1.3 | C$1.15 | 111 | $105 | 0.12 | 0.06 | 0.16 | 0.16 | 0.15 | 20.9 | 7.4 | 7.2 | 7.7 | Au/Canada | ||||||||
| Average | 11.9 | 6.7 | 6.3 | 12.3 | |||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics, company reports. | ||||||||||||||||||||||
| Silver | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Alexco Resource Corp | AXU | 3.0 | C$0.47 | 70 | $27 | (0.08) | (0.10) | (0.08) | -- | -- | -- | -- | -- | -- | Ag/Canada | ||||||||
| Bear Creek Mining Corp (CN) | BCM | 2.3 | US$0.88 | 93 | $82 | (0.18) | (0.07) | (0.08) | (0.07) | -- | -- | -- | -- | -- | Ag/Peru | ||||||||
| Excellon Resources (CN) | EXN | 2.0 | C$0.56 | 55 | $25 | (0.08) | (0.09) | 0.01 | -- | -- | -- | 56.0 | -- | -- | Ag, Pb, Zn/Mexico | ||||||||
| Mag Silver Corp | MVG | 1.8 | US$6.26 | 69 | $431 | (0.25) | (0.11) | (0.10) | (0.11) | (0.11) | -- | -- | -- | -- | Ag/Mexico | ||||||||
| Minco Silver Corp (CN) | MSV | 4.0 | C$0.48 | 60 | $24 | (0.03) | (0.09) | 0.04 | -- | -- | -- | 13.1 | -- | -- | Ag/China | ||||||||
| Sabina Gold & Silver Corp (CN) | SBB | 2.3 | C$0.32 | 194 | $52 | (0.01) | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | Ag, Zn/Canada | ||||||||
| SantaCruz Silver Mining Ltd (CN) | SCZ | 3.0 | US$0.18 | 103 | $18 | (0.05) | (0.04) | (0.01) | (0.01) | -- | -- | -- | -- | -- | Ag/Mexico | ||||||||
| Scorpio Mining Corp (CN) | SPM | 1.3 | C$0.19 | 336 | $51 | (0.02) | 0.00 | 0.02 | 0.02 | -- | -- | 9.3 | 9.3 | -- | Ag, Zn/Mexico | ||||||||
| Wildcat Silver Corp (CN) | WS | 3.0 | C$0.27 | 148 | $33 | -- | -- | -- | -- | -- | -- | -- | -- | -- | Ag/US | ||||||||
| Average | 26.1 | 9.3 | |||||||||||||||||||||
| Platinum Group Metals | |||||||||||||||||||||||
| Atlatsa Resources Corp | ATL | 4.0 | C$0.15 | 554 | $68 | (0.05) | (0.06) | (0.03) | -- | -- | -- | -- | -- | -- | Pt/South Africa | ||||||||
| Eastern Platinum Ltd (CN) | ELR | 3.0 | US$1.44 | 93 | $134 | 0.05 | 0.30 | (0.04) | -- | -- | 4.8 | -- | -- | -- | Pt/South Africa | ||||||||
| North American Palladium | PAL | 5.0 | C$0.08 | 378 | $23 | (0.20) | 0.02 | 0.02 | -- | -- | 5.0 | 3.8 | -- | -- | Pd/\Canada | ||||||||
| Wesizwe Platinum Ltd (SA) | WEZ | 4.0 | ZAR$0.74 | 1628 | $99 | (0.01) | (0.04) | (0.04) | -- | -- | -- | -- | -- | -- | Pt/South Africa | ||||||||
| Average | 4.9 | 3.8 | |||||||||||||||||||||
| Specialty Metals | |||||||||||||||||||||||
| Alkane Resources Ltd (AU) | ALK | -- | AUD$0.31 | 414 | $101 | -- | 0.02 | -- | -- | -- | 14.7 | -- | -- | -- | Zr, Nb, REE/Australia | ||||||||
| Avalon Rare Metals | AVL | -- | C$0.37 | 141 | $43 | -- | (0.04) | -- | -- | -- | -- | -- | -- | -- | REE/Canada | ||||||||
| China Rare Earth Holdings (HK) | 769 | -- | HK$1.69 | 1673 | $365 | -- | -- | -- | -- | -- | -- | -- | -- | -- | REE/China | ||||||||
| Focus Graphite (CN) | FMS | 1.0 | C$0.34 | 120 | $34 | -- | (0.04) | -- | -- | -- | -- | -- | -- | -- | graphite/Canada | ||||||||
| Lynas Corp Ltd (AU) | LYC | 2.8 | AUD$0.05 | 3371 | $123 | -- | (0.02) | 0.01 | 0.02 | -- | -- | 7.2 | 2.3 | -- | REE/Australia, Malaysia | ||||||||
| Molycorp | MCP | 4.0 | US$0.99 | 278 | $274 | (1.76) | (0.60) | (0.39) | -- | -- | -- | -- | -- | -- | REE/US | ||||||||
| Average | 14.7 | 7.2 | 2.3 | ||||||||||||||||||||
| Note: Currency shown is that used by the company for financial reporting. Currency does not always reflect the country/market in which the company/stock symbol trades. GAAP may differ between stocks due to countries and markets. | |||||||||||||||||||||||
| The tables are compiled from the Thomson One Analytics database of consensus Ratings & Estimates of equity analysts. The historicals and estimates of earnings and cash flows exclude non-operating, special items. | |||||||||||||||||||||||
| Thomson One Analytics Rating System: Buy (1.0), Buy/Hold (2.0), Hold (3.0), Sell/Hold (4.0), Sell (5.0) | Source: Thomson One Analytics, company reports. | ||||||||||||||||||||||
| Uranium | Price | Shrs O/S | Mkt Cap | Earnings Per Share | Price/Earnings | ||||||||||||||||||
| Symbol | Rating | 24-Apr-15 | (MM) | (US$MM) | 2014 | 2015E | 2016E | 2017E | 2018E | 2015E | 2016E | 2017E | 2018E | Commodity/Country | |||||||||
| Berkeley Resources Ltd (AU) | BKY | 1.0 | AUD$0.25 | 180 | $34 | -- | (0.04) | (0.04) | 0.00 | -- | -- | -- | -- | -- | U/Spain | ||||||||
| Energy Fuels (CN) | EFR | 1.6 | C$6.46 | 20 | $105 | (2.45) | (0.27) | (0.54) | (0.37) | -- | -- | -- | -- | -- | U/US | ||||||||
| Fission Uranium Corp (CN) | FCU | 1.4 | C$1.20 | 369 | $364 | (0.03) | (0.04) | -- | -- | -- | -- | -- | -- | -- | U/Canada | ||||||||
| Kivalliq Energy Corp (CN) | KIV | 2.0 | C$0.14 | 196 | $22 | -- | (0.01) | -- | -- | -- | -- | -- | -- | -- | U/Canada | ||||||||
| Toro Energy Ltd (AU) | TOE | 2.7 | AUD$0.08 | 1904 | $115 | -- | (0.01) | -- | -- | -- | -- | -- | -- | -- | U/Australia | ||||||||
| UEX Corp (CN) | UEX | 2.0 | C$0.29 | 235 | $57 | 0.00 | (0.01) | (0.01) | -- | -- | -- | -- | -- | -- | U/Canada | ||||||||
| Ur-Energy Inc | URG | 1.7 | C$1.25 | 130 | $134 | (0.08) | (0.01) | 0.11 | (0.05) | 0.34 | -- | 11.2 | -- | 3.7 | U/US | ||||||||
| Uranerz Energy Corp | URZ | 1.5 | US$1.26 | 96 | $121 | (0.13) | (0.08) | 0.03 | 0.21 | -- | -- | 42.0 | 6.0 | -- | U/US | ||||||||
| Uranium Energy Corp | UEC | 1.8 | US$2.31 | 92 | $213 | -- | (0.09) | 0.14 | 0.25 | 0.24 | -- | 16.2 | 9.4 | 9.6 | U/US | ||||||||
| Average | 23.2 | 7.7 | 6.6 | ||||||||||||||||||||
| Coal | |||||||||||||||||||||||
| Tigers Realm Coal (AU) | TIG | 2.0 | AUD$0.11 | 894 | $76 | (0.01) | (0.01) | (0.01) | 0.00 | 0.00 | -- | -- | -- | 36.7 | coal/Russia | ||||||||
| Average | 36.7 | ||||||||||||||||||||||
| Fertilizers | |||||||||||||||||||||||
| Allana Potash Corp (CN) | AAA | 2.0 | C$0.49 | 325 | $130 | -- | -- | -- | -- | -- | -- | -- | -- | -- | potash/Ethiopia | ||||||||
| Arianne Phosphate (CN) | DAN | 2.0 | C$0.74 | 95 | $58 | -- | -- | -- | -- | -- | -- | -- | -- | -- | phosphate/Canada | ||||||||
| IC Potash Corp (CN) | ICP | 1.5 | C$0.25 | 173 | $36 | -- | -- | (0.06) | (0.08) | 0.14 | -- | -- | -- | 1.8 | potash/US | ||||||||
| Karnalyte Resources Inc (CN) | KRN | 2.0 | C$0.79 | 27 | $18 | -- | -- | -- | -- | -- | -- | -- | -- | -- | potash/Canada | ||||||||
| Sirius Minerals PLC (UK) | SXX | 1.5 | GBP$0.14 | 2164 | $440 | -- | (0.65) | (0.01) | -- | -- | -- | -- | -- | -- | potash/UK | ||||||||
| Western Potash Corp (CN) | WPX | 3.0 | C$0.21 | 227 | $39 | -- | -- | -- | -- | -- | -- | -- | -- | -- | potash/Canada | ||||||||
| Average | 1.8 | ||||||||||||||||||||||
| 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 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, company reports. | ||||||||||||||||||||||
| Recent and Forecast Commodity Prices | |||||||||||||||||||||||
| Cash Price (24-Apr-15) | 2011 | 2012 | 2013 | 2014 | 2015E | 2016E | 2017E | 2018E | 2019 | ||||||||||||||
| Aluminum ($0.93 / lb) | $1.09 | $0.92 | $0.84 | $0.85 | $1.00 | $1.06 | $1.00 | $1.08 | $1.12 | ||||||||||||||
| Copper ($2.73 / lb) | $4.00 | $3.61 | $3.33 | $3.11 | $2.84 | $2.97 | $3.06 | $3.16 | $3.14 | ||||||||||||||
| Lead ($0.93 / lb) | $1.09 | $0.94 | $0.97 | $0.95 | $0.91 | $0.95 | $0.97 | $0.98 | $0.97 | ||||||||||||||
| Nickel ($5.83 / lb) | $10.38 | $7.95 | $6.81 | $7.66 | $7.98 | $8.98 | $8.85 | $9.48 | $10.54 | ||||||||||||||
| Zinc ($1.01 / lb) | $1.00 | $0.88 | $0.87 | $0.98 | $1.01 | $1.09 | $1.14 | $1.14 | $1.11 | ||||||||||||||
| Gold ($1180 / oz) | $1,571 | $1,668 | $1,411 | $1,266 | $1,253 | $1,274 | $1,263 | $1,254 | $1,281 | ||||||||||||||
| Palladium ($768 / oz) | $733 | $643 | $725 | $803 | $842 | $866 | $885 | $922 | $988 | ||||||||||||||
| Platinum ($1123 / oz) | $1,719 | $1,549 | $1,485 | $1,384 | $1,361 | $1,444 | $1,437 | $1,442 | $1,538 | ||||||||||||||
| Silver ($15.76 / oz) | $35.29 | $31.13 | $23.82 | $19.07 | $18.29 | $18.85 | $19.16 | $19.10 | $19.92 | ||||||||||||||
| Uranium ($38.85 / lb) | $56.32 | $48.97 | $40.42 | $37.76 | $46.53 | $51.98 | $59.92 | $64.67 | -- | ||||||||||||||
| Base metal prices are LME cash prices quoted in US$ 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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