Low Priced Stocks: Brigus Gold (BRD) A Bottom Play?

One of the great penny stocks to watch is one of Canada’s emerging mid-tier gold producers, Brigus Gold Corp. (NYSE Amex: BRD). The stock has reached oversold levels and with the recent news of that Brigus Gold still has 75% of their exploration to complete could make BRD one of the best gold stocks to buy now at their current levels.

Gold mining stocks have been some of the best penny stocks to buy this year that as long as they are not on the OTC Bulletin Board.

BRD Stock Snap Shot: (mrq: Sep 30, 2011)

Price/Sales (ttm): 2.27
Price/Book (mrq): 0.95
52-Week High (Jul 19, 2011): 1.99
52-Week Low (Mar 6, 2012): 0.83
5-Day Moving Average: 0.87
10-Day Moving Average: 0.89
20-Day Moving Average: 0.94
50-Day Moving Average: 1.01
200-Day Moving Average: 1.20
Avg Vol (3 month): 1,000,600
Avg Vol (10 day): 655,871
Shares Outstanding: 196.49M
Float: 191.61M
% Held by Insiders: 8.73%
Market Cap (intraday): 166.43M
Total Cash (mrq): 20.23M
Total Cash Per Share (mrq): 0.10
Total Debt (mrq): 54.77M

According to Brigus Gold, they have systematically explored 25% of the Black Fox Complex to date. Located in the Timmins Mining District, Ontario, BRD believes there is still significant upside potential on the property which covers an area of approximately 18 square kilometers. Gold mineralization primarily occurs within multiple quartz carbonate brecciated zones within bleached units of variolitic mafic volcanics and other parallel footwall zones. The core area of the 147 Zone extends for roughly 250 m in a north-south direction dipping at approximately 80° degrees to the east.

BRD One Year Stock Chart:

RSI, MACD and Full Stochastics all point to this penny stock having reached its oversold level and should be monitored closely for any bump up on the charts.

Bottom Line: BRD is a must watch penny stock and should be added to the stock watch list immediately. Brigus Gold will be reporting Q4 earnings on Thursday, March 29th. Having explored only 25% of their property and reporting revenues of 73.21 million in their most recent quarter (mrq) and with a Book Value Per Share of 0.90, BRD could have hit bottom at its current level.

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