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December 12, 2005 Stock Pick: Bema Gold Corporation (BGO)

Stock Price: $2.90

Bema Gold Corporation is engaged in the mining and production of gold and silver, and the acquisition, exploration and development of precious metal properties. The company's main holdings are in the Russian Federation, South Africa, Chile and Canada.

Right now, gold is at a 24-year high at a price of over $534. With inflation concerns and central-bank demand for gold, it looks like the price will only head higher from here. This all bodes well for BGO as they continue to mine gold.

On December 1st, UBS upgraded BGO from a "neutral" rating to a "buy". BGO has been in a solid uptrend since late-May and is showing no signs of slowing. It looks as if BGO will break $3.20 and move higher from there.

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