Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

<ul>
<li>Global copper-mine production declined in early 2026, driven by lower output and disruptions in key producing nations like Chile, Peru, and the Democratic Republic of Congo (DRC)</li>
<li>Anticipation and fears of aggressive U.S. import tariffs on copper and related metal products prompted traders to aggressively divert and ship refined copper into U.S. (COMEX) warehouses</li>
<li>We expect stocks to now digest the new-normal 14,000 USD/ton copper price. Check out our recent initiation: <a href="https://www.smartkarma.com/insights/amerigo-resources-arg-cn-copper-factory-tailings-processor-that-sweeps-upside-to-shareholders" target="_blank" data-smartkarma-citation="insights:268297" rel="noopener">Amerigo Resources (ARG CN): Copper Factory Tailings Processor That Sweeps Upside To Shareholders</a> </li>
</ul>


Global copper-mine production declined in early 2026, driven by lower output and disruptions in key producing nations like Chile, Peru, and the Democratic Republic of Congo (DRC)
Anticipation and fears of aggressive U.S. import tariffs on copper and related metal products prompted traders to aggressively divert and ship refined copper into U.S. (COMEX) warehouses
We expect stocks to now digest the new-normal 14,000 USD/ton copper price. Check out our recent initiation: Amerigo Resources (ARG CN): Copper Factory Tailings Processor That Sweeps Upside To Shareholders 


Copper: Yangshan Premiums Approaching Highs, Stocks Digesting 14,000 USD/Ton Copper Assumptions

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.
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Thematic (Sector/Industry)

<ul><li>Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.</li><li>Because these ideas are the result of my first-level idea generation process, they require more in depth research. Therefore, the ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.</li><li>If you have something fascinating to share that could benefit me and the wider community, don’t hesitate to send it my way—I’d love to hear from you!</li></ul>

Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help you kickstart the week ahead with fresh insights.Because these ideas are the result of my first-level idea generation process, they require more in depth research. Therefore, the ideas will often be concise, with occasional references to valuable work from other practitioners that I encourage you to explore.If you have something fascinating to share that could benefit me and the wider community, don’t hesitate to send it my way—I’d love to hear from you!

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.

<ul>
<li>Precious metals rallied sharply in August on a shift in Fed rate cut expectations following softer U.S. data, albeit moderating in recent days, with gold up 9.3%, silver up 14.8%, and copper up 1.1%.</li>
<li>Mining equities delivered outsized leverage, with the GDX up 33.0%, GDXJ up 34.1%, SIL up 32.7%, and COPX up 17.7%, vs. the TSX up 3.0% and the S&amp;P 500 up 2.8%.</li>
<li>M&amp;A activity displayed signs of acceleration on stronger metal prices, headlined by OceanaGold's A$776M acquisition of Ausgold Limited and Bunker Hill Mining's merger with Silver47 Exploration.</li>
</ul>


Precious metals rallied sharply in August on a shift in Fed rate cut expectations following softer U.S. data, albeit moderating in recent days, with gold up 9.3%, silver up 14.8%, and copper up 1.1%.
Mining equities delivered outsized leverage, with the GDX up 33.0%, GDXJ up 34.1%, SIL up 32.7%, and COPX up 17.7%, vs. the TSX up 3.0% and the S&amp;P 500 up 2.8%.
M&amp;A activity displayed signs of acceleration on stronger metal prices, headlined by OceanaGold's A$776M acquisition of Ausgold Limited and Bunker Hill Mining's merger with Silver47 Exploration.


BP Silver Corp - Mining Monthly: August Edition

<ul>
<li>Precious metals stabilized in July following the sharp June selloff, with gold up 0.6%, silver down 2.0%, while copper extended its rally.</li>
<li>Mining equities were mixed, with the GDX down 1.8%, GDXJ down 2.9%, SILJ down 4.9%, and COPX up 2.5%, with the TSX up 1.1% and the S&amp;P up 0.2%.</li>
<li>Q2 earnings from the majors validated the new commodity price environment, with Teck Resources’ adjusted EBITDA nearly tripling YoY on strong copper margins, while Newmont and Agnico Eagle both delivered record quarterly FCF and material shareholder returns.</li>
</ul>


Precious metals stabilized in July following the sharp June selloff, with gold up 0.6%, silver down 2.0%, while copper extended its rally.
Mining equities were mixed, with the GDX down 1.8%, GDXJ down 2.9%, SILJ down 4.9%, and COPX up 2.5%, with the TSX up 1.1% and the S&amp;P up 0.2%.
Q2 earnings from the majors validated the new commodity price environment, with Teck Resources’ adjusted EBITDA nearly tripling YoY on strong copper margins, while Newmont and Agnico Eagle both delivered record quarterly FCF and material shareholder returns.


NorthWest Copper Corp - Mining Monthly: July Edition

<ul><li>Quarterly Coverage Update This quarter marks two years since we launched our quarterly coverage recap.</li><li> Over those last two years, our coverage universe has expanded from 13 names to 52, and our footprint across the investor community has continued to widen to new levels.</li><li> However, the metals and mining sector has been a tough place to be since the sector's strong run faded after January, and with ~70% of our coverage universe sitting in the space, we are heavily exposed to it.</li></ul>

Quarterly Coverage Update This quarter marks two years since we launched our quarterly coverage recap. Over those last two years, our coverage universe has expanded from 13 names to 52, and our footprint across the investor community has continued to widen to new levels. However, the metals and mining sector has been a tough place to be since the sector's strong run faded after January, and with ~70% of our coverage universe sitting in the space, we are heavily exposed to it.

THS Maple Holdings Ltd - Q2/26 Recap: All Our Research in One Place!

Canada

Amerigo Resources Ltd. produces copper and molybdenum.  The Company operates in South America.

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Amerigo Resources (ARG CN)

Copper: Yangshan Premiums Approaching Highs, Stocks Digesting 14,000 USD/Ton Copper Assumptions

With copper consolidating at 14,000 USD/ton, we provide rationale for the recent copper strength. Our recent initiation, Amerigo Resources (ARG...

Sameer Taneja

Monday Delight: 30/06/25

Each week, I’ll share five intriguing investment ideas that recently caught my attention. These ideas are meant to spark your research and help...

Contrarian Cashflows

BP Silver Corp - Mining Monthly: August Edition

Precious metals rallied sharply in August on a shift in Fed rate cut expectations following softer U.S. data, albeit moderating in recent days,...

Atrium Research

NorthWest Copper Corp - Mining Monthly: July Edition

Precious metals stabilized in July following the sharp June selloff, with gold up 0.6%, silver down 2.0%, while copper extended its rally.

Atrium Research

THS Maple Holdings Ltd - Q2/26 Recap: All Our Research in One Place!

Quarterly Coverage Update This quarter marks two years since we launched our quarterly coverage recap. Over those last two years, our coverage...

Atrium Research

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