|
|
SEASIDE ANALYTICS, LLC Industry-Specific
Stock Valuation Metrics |
|
|
|
|
|
Gold
and Silver Mining Stocks |
|
There are a great number of pitfalls for
gold and silver mining stocks as the companies mature from exploration stage
to development, feasibility, construction, and production. In addition to the geological uncertainties,
there are often serious capital, environmental, political, and currency
risks. Plus, the price of gold is
subject to wide swings. In view of the foregoing, gold and
silver mining stocks are generally exceedingly difficult to value. In making stock valuation comparisons,
analysts often use the ratio of enterprise value (market capitalization, plus
excess working capital, less debt) to gold-equivalent reserves. One could improve upon such a valuation
model by also taking into account whether the companies have existing
production facilities, since such infrastructure is often subject to
environmental and political constraints and is tremendously expensive. Gold companies often distinguish
between gold reserves and gold resources.
Gold reserves (both proven and probable) are resources that can be
developed profitably with available technology; the calculations are
generally in accordance with an industry-standard methodology. Resources are areas of mineralization that
have been surveyed, with their quantity and quality determined; they are
sometimes categorized as measured, indicated, or inferred. Mineral resources which are not mineral
reserves do not have demonstrated economic viability. Here are some articles relating to gold
and silver mining: Gold
Mining; Silver
Mining; Officially
Reported Gold Reserves. The gold and silver mining stocks
below, ranked within category by market capitalization, all trade on U.S.
markets. |
|
|
|
|
|
Market |
Stock |
Trading |
|
|
|
|
Company |
|
|
Stock |
Cap |
Price |
Stats |
Web |
SEC |
Income |
Balance |
Profile |
|
Stocks in the
Amex Gold BUGS Index (b) |
Symbol |
(millions) |
(4/11) |
& Chart |
Site |
Filings |
Statement |
Sheet |
(a) |
|
Barrick Gold
Corporation |
ABX |
37,160 |
42.69 |
||||||
|
Goldcorp, Inc. |
GG |
27,920 |
39.31 |
||||||
|
Newmont Mining
Corporation |
NEM |
20.830 |
45.96 |
||||||
|
Kinross Gold
Corp. |
KGC |
13,990 |
22.75 |
||||||
|
Agnico-Eagle
Mines Ltd. |
AEM |
9,910 |
69.09 |
||||||
|
Yamana Gold, Inc. |
AUY |
9,640 |
14.22 |
||||||
|
Gold Fields Ltd
ADR |
GFI |
9,350 |
14.33 |
||||||
|
Harmony Gold
Mining Compay ADR |
HMY |
4,570 |
11.41 |
||||||
|
Randgold Resources Ltd.
ADR |
GOLD |
3,880 |
50.98 |
||||||
|
Eldorado Gold
Corporation |
EGO |
2,480 |
7.21 |
||||||
|
IAMGOLD
Corporation |
IAG |
2,120 |
7.16 |
||||||
|
Coeur d'Alene
Mines Corp. |
CDE |
2,010 |
3.64 |
||||||
|
Hecla Mining
Company |
HL |
1,460 |
11.86 |
||||||
|
Northgate
Minerals Corporation |
NXG |
857 |
3.36 |
||||||
|
Golden Star
Resources, Ltd. |
GSS |
829 |
3.52 |
|
|
|
Market |
Stock |
Trading |
|
|
|
|
Company |
|
|
Stock |
Cap |
Price |
Stats |
Web |
SEC |
Income |
Balance |
Profile |
|
Other Gold
Mining Stocks |
Symbol |
(millions) |
(4/11) |
& Chart |
Site |
Filings |
Statement |
Sheet |
(a) |
|
AngloGold
Ashanti Limited ADS |
AU |
10,420 |
36.99 |
||||||
|
Compania de Minas
Buenaventura ADS |
BVN |
8,750 |
68.75 |
||||||
|
Miramar Mining
Corporation |
MNG |
1,360 |
6.15 |
||||||
|
Seabridge Gold, Inc. |
SA |
891 |
23.90 |
||||||
|
Royal Gold,
Inc. |
RGLD |
830 |
22.25 |
||||||
|
Gammon Gold,
Inc. |
GRS |
943 |
7.97 |
||||||
|
Great Basin
Gold, Ltd. |
GBN |
732 |
3.58 |
||||||
|
Aurizon Mines, Ltd. |
AZK |
698 |
4.74 |
||||||
|
Crystallex
International Corporation |
KRY |
583 |
1.98 |
||||||
|
Minefinders Corporation,
Ltd. |
MFN |
572 |
11.54 |
||||||
|
Tanzanian
Royalty Exploration Corp. |
TRE |
496 |
5.69 |
||||||
|
Orezone Resources,
Inc. |
OZN |
495 |
1.39 |
||||||
|
Gold Reserve,
Inc. |
GRZ |
238 |
4.22 |
||||||
|
Nevsun Resources,
Ltd. |
NSU |
199 |
1.56 |