outperforming the overall market
By Dave Mock
December 7, 2009
Jaguar Mining
Similar to other gold miners such as Yamana Gold (NYSE: AUY), Jaguar Mining has been enjoying the rising price of gold, outperforming the overall market this year. The unhedged producer recently reported a 36% increase in third-quarter gold sales revenue. Production rose 19%, while its average sales price jumped by more than $100 per ounce. The company acquires, develops, and operates properties in Brazil, where it's been investing in expansions and acquisitions, with the goal of becoming one of the country's largest midtier producers. It recently completed its acquisition of the Gurupi Project from a subsidiary of Kinross Gold (NYSE: KGC), and it's on schedule with its Caete project, its third major project. Today, close to 94% of the 334 CAPS members rating Jaguar Mining are bullish.