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

<ul><li>Quarterly Coverage Update Q2/25 was another strong quarter for Atrium, with continued outperformance from the precious metals space, once again led by silver equities.</li><li>Our coverage universe climbed 27% on average during the quarter and is up 80% over the last year, compared to the TSX which rose 7% and 23%, respectively.</li><li>This builds on the 13% gain from our coverage in Q1/25.</li></ul>

Quarterly Coverage Update Q2/25 was another strong quarter for Atrium, with continued outperformance from the precious metals space, once again led by silver equities.Our coverage universe climbed 27% on average during the quarter and is up 80% over the last year, compared to the TSX which rose 7% and 23%, respectively.This builds on the 13% gain from our coverage in Q1/25.

Kobo Resources Inc - Q2/25 Recap: All Our Research in One Place!

<ul>
<li>The mining sector posted another solid month in June with gold breaking its streak of gains but silver and copper performing well.</li>
<li>This was led by increased geopolitical uncertainty, continued government spending, and potential for lower interest rates.</li>
<li>Gold was down 2%, silver was up 4%, and copper was up 5% compared to the GDX up 3%, GDXJ up 4%, SILJ up 12%, and COPX up 10%.</li>
</ul>


The mining sector posted another solid month in June with gold breaking its streak of gains but silver and copper performing well.
This was led by increased geopolitical uncertainty, continued government spending, and potential for lower interest rates.
Gold was down 2%, silver was up 4%, and copper was up 5% compared to the GDX up 3%, GDXJ up 4%, SILJ up 12%, and COPX up 10%.


Copper Fox Metals Inc - Mining Monthly: June Edition

<ul><li>What you need to know: • The metals and mining market continued its strong run in May, driven by inflationary concerns due to the trade war and geopolitical tensions.</li><li>• In May, gold was up 1.8%, silver was up 1.7%, and copper was also up 1.7%.</li><li>The equities outperformed the commodities, with the GDX up 3.3%, GDXJ up 6.4%, SIL up 5.9%, and COPX up 8.7%.</li></ul>

What you need to know: • The metals and mining market continued its strong run in May, driven by inflationary concerns due to the trade war and geopolitical tensions.• In May, gold was up 1.8%, silver was up 1.7%, and copper was also up 1.7%.The equities outperformed the commodities, with the GDX up 3.3%, GDXJ up 6.4%, SIL up 5.9%, and COPX up 8.7%.

Kobo Resources Inc - Mining Monthly: May Edition

Andean Precious Metals  / Equity Bottom-Up

<ul>
<li>Andean reported Q1 financial results that came in well above our expectations.</li>
<li>The beat was driven by the higher metals prices and lower than expected costs at both assets.</li>
<li>Revenue was $62.0M (+44% YoY) vs. our estimate of $53.6M.</li>
</ul>


Andean reported Q1 financial results that came in well above our expectations.
The beat was driven by the higher metals prices and lower than expected costs at both assets.
Revenue was $62.0M (+44% YoY) vs. our estimate of $53.6M.


APM: Increasing Target Price on Excellent Q1 Profitability

<ul><li>What you need to know: • The metals and mining market showed a fourth straight month of strong gains in April on the back of the escalating trade tensions.</li><li>• In April, gold was up 5.6%, silver was down 4.2%, and copper was down 9.6%.</li><li>The equities outperformed the commodities, with the GDX up 6.5%, GDXJ up 7.3%, and SIL up 3.3%.</li></ul>

What you need to know: • The metals and mining market showed a fourth straight month of strong gains in April on the back of the escalating trade tensions.• In April, gold was up 5.6%, silver was down 4.2%, and copper was down 9.6%.The equities outperformed the commodities, with the GDX up 6.5%, GDXJ up 7.3%, and SIL up 3.3%.

Kobo Resources Inc - Mining Monthly: April Edition

Canada

Andean Precious Metals Corp. provides mining services. The Company specializes in precious metals production, development, and exploration services. Andean Precious Metals operates in Canada.

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Andean Precious Metals (APM CN)

Kobo Resources Inc - Q2/25 Recap: All Our Research in One Place!

Quarterly Coverage Update Q2/25 was another strong quarter for Atrium, with continued outperformance from the precious metals space, once again...

Atrium Research

Copper Fox Metals Inc - Mining Monthly: June Edition

The mining sector posted another solid month in June with gold breaking its streak of gains but silver and copper performing well.

Atrium Research

Kobo Resources Inc - Mining Monthly: May Edition

What you need to know: • The metals and mining market continued its strong run in May, driven by inflationary concerns due to the trade war and...

Atrium Research

APM: Increasing Target Price on Excellent Q1 Profitability

Andean reported Q1 financial results that came in well above our expectations. The beat was driven by the higher metals prices and lower than...

Atrium Research

Kobo Resources Inc - Mining Monthly: April Edition

What you need to know: • The metals and mining market showed a fourth straight month of strong gains in April on the back of the escalating trade...

Atrium Research

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