Our scanners popped up another good penny stock to consider having in your portfolio before 2013: NYSE Mkt (Amex) listed Lake Shore Gold Corp. (LSG). The quarterly revenues for the Canadian gold miner were spectacular eneough that Wall Street analysts at TD Securities had to upgrade LSG stock from a “speculative buy” rating to a “buy” rating after reviewing them. With plans to expand their mill in stages, increasing processing capacity to 2,500 tonnes per day by the end of November, 3,000 tonnes per day before the end of Q2, 2013, the same expansion could show on the PPS within the same time frames and should be watched closely by long investors.
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LSG Stock Chart
Market Cap: 362.48M
Close: 0.8725, up 0.0355 (4.24%)
Average Trade Size: 659
52-Week High (Feb 28, 2012): 2.08
52-Week Low (Apr 24, 2012): 0.75
Avg Vol (10 day): 220,950
Shares Outstanding: 415.45M
Click here to view LSG Year To Date Stock Chart
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At present, Lake Shore Gold’s central mill has a current operating capacity of 2,000 tonnes per day which and is processes ore from the two main operating mines of the Company, the Timmins West Mine and Bell Creek Mine. Even at a projected 2,000 tonnes per day, they were able to exceed that by averaging 2,108 tonnes per day which, during Q3,:
• Produced 20,939 ounces, an 11% increase from the 18,833 ounces processed during Q3 2011; with a total of 20,665 ounces poured during Q3, and 20,450 ounces sold at an average price of $1,665 per ounce.
• Processed 193,999 tonnnes during Q3 at an average grade of 3.5 grams per tonne.
• Produced 62,047 ounces (recovered) in the nine months ended September 30 (537,723 tonnes grading 3.7 grams per tonne); 61,143 ounces were poured and 63,839 ounces were sold at an average price of US$1,649 per ounce.
• Achieved record quarterly mill performance in Q3 with an average quarterly recovery rate of 97.1%.
Basically, Lake Shore Gold, as of November 6, 2012, had cash and cash equivalents and gold bullion inventory of approximately $76 million and remains on track to achieve its 2012 production guidance of pouring over 85,000 ounces of gold. Can you say “buy out“?
Like having SFEG and NWGC already on your penny stock list to watch for you gold stock lovers, LGS is currently trading at -3.43% below the 50 Day Moving Average (0.90), -9.22% below the 200 Day Moving Average (0.96), -58.05% belwo the 52 Week High (2.08) and 16.33% above the 52 Week Low (0.75). TD Securities is sure about them, you should be too.
About LSG Stock
Lake Shore Gold Corp. , a Toronto Stock Exchange and NYSE Amex stock exchange publicly listed company, is primarily engaged in the operation, exploration and development of three gold deposits located in the Timmins Gold Camp in Timmins, Ontario with certain exploration properties in Quebec and Mexico. The Company is in commercial production at its Timmins West Mine and at its Bell Creek Mine.
Click here to view the SEC filings for LSG.
Bottom Line: Looking for penny stocks for 2013? Add Lake Shore Gold Corp.’s LSG to your list which has a potential upside of 120%. They are booming away at their gold production and hitting targets while expanding their capacity the smart way: in stages. LSG stock could be a huge winner to take you out of 2012 and into 2013 for your first triple digit percentage gainer to add to your 2014 capital’s gains tax recording.
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