Precious metal prices may have taken a tumble in the fourth quarter, but fourth quarter and full year results for precious metal miners are coming in strong. Furthermore, with the strong start for precious metals in 2012, with an over 20% rise in silver, and over 11% rise in gold, first quarter 2012 results look set to extend the strong run for precious metal miners.
The next few days will see the bulk of precious metal miners reporting.
Hecla Mining (HL) reported fourth quarter earnings of $0.07 compared to a loss of $0.05 in the year ago period. HL reported record revenues for 2011 of $477.6 million. Full year net income was $0.54 per share, a significant rise from the $0.14 in 2010.
For 2102, HL reiterated its silver production estimate of 7 million ounces. Shares of HL were up nearly 10%, or $0.46 at $5.48 per share.
Shares of HL are up nearly 10% following its earnings release, up $0.48 at $5.51 per share. However, HL is trading well off its 52-week high $11.08, as investors sold shares after a series of accidents at its 3 million ounce Lucky Strike mine, and due to built-up sand and concrete material led to the mine's closure. The mine is expected to re-open in 2013.
Stillwater Mining Company (SWC) reported fourth quarter earnings of $0.21 compared to $0.16 in the year ago period. SWC reported revenues for 2011 of $906 million. Full year net income was $1.30 per share or $144.3 million.
Shares of SWC were up solidly following its earnings release, up $1.05 at $14.51 per share. Like many other precious metal miners, SWC is well off its 52-week high of $25.90. The fourth quarter sell-off in precious metals coincided with its drop.
Stillwater Mining Company mines and refines mostly platinum and palladium
Novagold Resources Inc (NG) is still in the development stage, and is expected to report a small fourth quarter loss. The company is expected to post negative earnings through at least 2012. Shares of NG were up $0.32 at $8.75. Its 52-week range is $5.93-$8.78.
Pan America Silver Corp (PAAS) has a consensus analyst fourth quarter estimate of $0.53. Shares of PAAS were up $0.65 at $24.61. Its 52-week range is $19.93-$43.06.
Coeur d Alene Mines Copr (CDE) has a conensus analyst fourth quarter estimate of $0.40. Shares of CDE were up $1.12 at $28.98. Its 52-week range is $19.30-$37.59.
Alamos Gold Inc (AGI.TO) has a consensus analyst fourth quarter estimate of $0.22. Shares of AGI.TO are up $1.41 at $20.05. Its 52-week range is $13.26-$21.00.
IAMGOLD Corp (IMG.TO) has a consensus analyst fourth quarter estimate of $0.33. Shares of IMG.TO were up $0.52 at $16.78. Its 52-week range is $15.07-$17.20.
Gainesville Coins is offering the 100 oz Sunshine Mint Silver Bar at as low as $0.79 over spot.
Gold bullion buyers will want to consider the 1 oz Krugerrand Gold Coin at as low as $26.99 over spot.