As 2011 comes to a close, it's a great time to look back at what happened to the stocks that interest you. By making sure you know the important things that a company accomplished -- as well as the setbacks it experienced -- you can make a better decision about whether it's a smart investment for your portfolio.
Today, let's take a look at Brigus Gold
Stats on Brigus Gold
|Year-to-Date Stock Return||(51%)|
|Market Cap||$202 million|
|1-Year Revenue Growth||(15.5%)|
|1-Year Profit Growth||NM (loss of $44.7 million)|
|Cash / Debt||$20.2 million / $54.8 million|
Source: S&P Capital IQ. NM = not meaningful due to negative earnings.
Why'd Brigus Gold get tarnished in 2011?
Coming into 2011, many investors had high hopes for Brigus. The company had gotten rid of previous gold hedges that had prevented it from realizing the full extent of the jump in gold prices, and with its existing Black Fox mine showing better production and a second mine in the works for 2013, the prospects for Brigus were bright enough to attract investors like hedge fund Sprott Asset Management.
In particular, Black Fox looks extremely promising. As Fool gold expert Christopher Barker wrote about in June, the mine is in the middle of Ontario's gold country, with a Goldcorp
Consolidation in the industry could eventually bode well for Brigus. Earlier this year, fellow turnaround story AuRico Gold
The big threat for Brigus is a correction in gold prices, which could erode confidence in the company's turnaround. But with promising production prospects, Brigus could well overcome even a drop in gold going forward.
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