Well you can edit in PRE at the individual frame level so yes, it can do it. For stop frame animation though why would you be looking at a video camera? For frame-by-frame animation a DSLR would fit the bill better.
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Stop Frame Animation is most often done with still images. The Duration of those stills, when Imported into PrE can be adjusted, as necessary. I have found that for most subjects, about 3 Frames works well. A great combination of programs would be PrE and Photoshop elements, where one can adjust the stills, and then Scale them to the desired Video Frame Size for animation.
[Edit] While I was typing, I see that Neale was posting about the same thing. He's just quicker, than I am.
Premiere Elements also does include a feature for capture frames at regular intervals from tape-based miniDV or HDV video. This creates a time lapse, high-speed motion effect, if that's what you're looking for.
The feature mentioned above by Steve also works with Web Cams.
I should have explained that in the main I am not technologically advanced.
It appears that Premiership Elements is capable of creating stop frame animation films and that a DSLR is best. It took a while but I guess that a DSLR is a a Digital Single Lens Reflex camera.
Many thanks to you all.