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Monday, May 15, 2006

Penny Stock Pick - CGR

More Natural Resource The penny stock on the spotlight today is Claude Resources Inc. (CGR), the Saskatoon, Canada based gold, oil and gas company for properties in central Canada. Although the stock plunged 13.48% today due to falling gold price, it actually has been on a rally for the year rising from $1 per share in January to as much as $1.72 last Thursday before closing aat $1.22 today. Let's take a detail analysis at the stock to see if it is worth buying.

The technical chart shows buying opportunity as the stock has dropped back to 50 day moving average with ROC also reaching oversold level. Since MACD and signal line are still above 0, the stock is still in the bull market. The only weak signal is KD where K line is still below D line.

There is no insider transaction for the stock.

The income statement seems ok as the company has generated slightly more revenue in 2005 than the previous year. However since the company is still getting huge net loss and not enough cash level to cover the loss, the company is still in need to sell stock or raise cash thru other financing activities which is why we see the company continued to sell stock worth 9 million for 2005.

Penny Stock Score (1~5) 5 is highest
1. Market Potential(gold mining): 5
2. Technical: 4
3. Financial: 3
Recommendation: Buy


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