Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

Capitan Silver Corp. is a gold-silver mining exploration company. The Company focuses on exploration, processing, and distribution of gold and silver. Capitan Silver serves customers in Canada and Mexico.

<ul><li>What you need to know: • CAPT announced an updated MRE at its Capitan Hill Oxide Gold Deposit.</li><li>• The resource increased from 305Koz Au in 2020 to 525Koz today, and today’s resource is pit-constrained.</li><li> • Two-thirds of the 2025 15,000m drill program is complete, with only one-third of the assay results released.</li></ul>

What you need to know: • CAPT announced an updated MRE at its Capitan Hill Oxide Gold Deposit.• The resource increased from 305Koz Au in 2020 to 525Koz today, and today’s resource is pit-constrained. • Two-thirds of the 2025 15,000m drill program is complete, with only one-third of the assay results released.

CAPT: Large Resource Update at Capitan Hill Gold Deposit

Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

BBB Foods Inc. operates as a holding company. The Company, through its subsidiaries, retails packaged foods, beverages, tobacco, personal care, house cleaning, and healthcare products. BBB Foods serves customers in Mexico.

<ul><li>In the midst of a challenging consumption environment in Mexico, companies have remained competitive by balancing pricing strategies and strict cost control.</li><li>As expected, consumers continue to trade down, supporting strong momentum for private-label products.</li><li>Within this context, the hard-discount format has accelerated, and Tiendas 3B stands out through strong store openings and solid SSS performance.</li></ul>

In the midst of a challenging consumption environment in Mexico, companies have remained competitive by balancing pricing strategies and strict cost control.As expected, consumers continue to trade down, supporting strong momentum for private-label products.Within this context, the hard-discount format has accelerated, and Tiendas 3B stands out through strong store openings and solid SSS performance.

Actinver Research - TBBB: Big, Bold, and more than Branding (Coverage Initiation)

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Index Rebalance

Ferrovial SE is a global operator of sustainable infrastructure. The Company specializes in construction, promotion, investment, and operation of toll roads, airports, electrical transmission networks, water treatment plants, and other infrastructures. Ferrovial serves customers worldwide.

<ul>
<li>Ferrovial sits in a strong position for Nasdaq-100 second-round inclusion, with several incumbents likely to drop below rank 125.</li>
<li>Inclusion could trigger ~$315M passive inflows and broaden U.S. investor ownership.</li>
<li>Fundamentals already reflect a U.S.-centric infra operator, supported by JFK NTO and toll-road ramp-ups through 2027.</li>
</ul>


Ferrovial sits in a strong position for Nasdaq-100 second-round inclusion, with several incumbents likely to drop below rank 125.
Inclusion could trigger ~$315M passive inflows and broaden U.S. investor ownership.
Fundamentals already reflect a U.S.-centric infra operator, supported by JFK NTO and toll-road ramp-ups through 2027.


Positioned for the Upgrade: Ferrovial’s Path Into the Nasdaq-100

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.20 per share: Resource estimates boost in Sicily – ADX has increased its aggregated prospective gas resource estimates for its Sicily Channel permit from 103–369–772 bcf to 188–484–1,265 bcf (P90–P50–P10 cases).</li><li>The new mean prospective resource of 619 bcf reflects the increased upside potential for the permit.</li><li>Individual prospect sizes range between 37–111 bcf (P50 case), with four prospects each estimated at 60–68 bcf (P50).</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.20 per share: Resource estimates boost in Sicily – ADX has increased its aggregated prospective gas resource estimates for its Sicily Channel permit from 103–369–772 bcf to 188–484–1,265 bcf (P90–P50–P10 cases).The new mean prospective resource of 619 bcf reflects the increased upside potential for the permit.Individual prospect sizes range between 37–111 bcf (P50 case), with four prospects each estimated at 60–68 bcf (P50).

Fundamental Analyses, Contrarian Cashflows

Contrarian Cashflows

Fundamental Analyses

The purpose of Contrarian Cashflows is to document my investment research and share it with everyone who is interested in value investing. My long term aspiration for Contrarian Cashflows is to become a platform for professional investors and serious amateurs where they can get inspiration and discuss investing-related topics.
I plan to publish one company deep dive per month that is guided by my investment approach. All information I use for my write-ups is publicly available and most of the time directly sourced from public filings issued by the respective companies. To guarantee maximum transparency, for every post I provide a list of all used sources in the resources section.
Contrarian Cashflows is built around the principles of respect, honesty, open-mindedness and a touch of humour. Please consider these principles in any engagement interaction with me, other readers and the content on this blog. Misbehaviour is not tolerated.
If you want to reach out to me directly, the best way is via LinkedIn, Twitter or email. You can find the details at my homepage contrariancashflows.com

<ul><li>A lot of ink has been spilled on the pros and cons of investing in “private” assets.</li><li>With the recent introduction of private equity investments for retail investors in my home country of Germany, I’ve been repeatedly approached by friends and family about my opinion on these products.</li><li>In Germany, two neo-brokers, LIQID and Trade Republic, recently introduced private equity (PE) investments for retail investors starting from as little as €1 per trade (in the case of Trade Republic), while marketing returns between 12% and 14% annually with low volatility.</li></ul>

A lot of ink has been spilled on the pros and cons of investing in “private” assets.With the recent introduction of private equity investments for retail investors in my home country of Germany, I’ve been repeatedly approached by friends and family about my opinion on these products.In Germany, two neo-brokers, LIQID and Trade Republic, recently introduced private equity (PE) investments for retail investors starting from as little as €1 per trade (in the case of Trade Republic), while marketing returns between 12% and 14% annually with low volatility.

RW-11-25: Should I Invest in Private Equity?

North America
Insights on North America

CAPT: Large Resource Update at Capitan Hill Gold Deposit

What you need to know: • CAPT announced an updated MRE at its Capitan Hill Oxide Gold Deposit. • The resource increased from 305Koz Au in 2020 to...

Atrium Research

Actinver Research - TBBB: Big, Bold, and more than Branding (Coverage Initiation)

In the midst of a challenging consumption environment in Mexico, companies have remained competitive by balancing pricing strategies and strict...

Actinver

Positioned for the Upgrade: Ferrovial’s Path Into the Nasdaq-100

Ferrovial is a credible Nasdaq-100 entrant with ~$315M passive inflow potential. U.S. assets, liquidity and growth drivers support ongoing re...

Jesus Rodriguez Aguilar

AUCTUS ON FRIDAY - 05/12/2025

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.20 per share: Resource estimates boost in...

Auctus Advisors

RW-11-25: Should I Invest in Private Equity?

A lot of ink has been spilled on the pros and cons of investing in “private” assets. With the recent introduction of private equity investments...

Contrarian Cashflows