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

OceanaGold Philippines / Equity Bottom-Up

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<a target="_blank" rel="noopener">OceanaGold Philippines (OGP PM)</a> recorded Q1 FY26 revenue of $158.4M (+100% YoY); net income of $34.7M (+369% YoY); gold price tailwind drove record AISC margin of $3,751/oz.</li>
<li>This insight follows our initiation on 10th March, <a href="https://www.smartkarma.com/insights/oceanagold-philippines-inc-ogp-pm-another-cheap-play-on-gold-price" target="_blank" data-smartkarma-citation="insights:226242" rel="noopener">OceanaGold Philippines, Inc. (OGP PM): Another Cheap Play On Gold Price</a>, flagging the company as a high-yield play on gold price.</li>
<li>At PHP 37.30, OGP trades at 4.7x FY26e EV/EBITDA and 9.2x FY26e P/E with 10.9% dividend yield; materially undervalued.</li>
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OceanaGold Philippines (OGP PM) recorded Q1 FY26 revenue of $158.4M (+100% YoY); net income of $34.7M (+369% YoY); gold price tailwind drove record AISC margin of $3,751/oz.
This insight follows our initiation on 10th March, OceanaGold Philippines, Inc. (OGP PM): Another Cheap Play On Gold Price, flagging the company as a high-yield play on gold price.
At PHP 37.30, OGP trades at 4.7x FY26e EV/EBITDA and 9.2x FY26e P/E with 10.9% dividend yield; materially undervalued.


OceanaGold Philippines (OGP PM) Q1FY26: Net Cash And Trading At A ~11% Yield On 4,500 USD/Oz Gold

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Key themes:<ul><li>Downgrading Financials. Given the Sector’s relative deterioration, we are downgrading Financials to market weight. Pockets of strength still exist (e.g. exchanges), but breadth is problematic... see page 3</li><li>Gold miners are bullishly inflecting. A Group we recommended last week, gold miners continue to bullishly inflect. This is a buying opportunity... see pages 3, 8-14</li><li>Buy biotechs, overweight Health Care. In today’s report we highlight actionable charts throughout Health Care, our top-ranked Sector, emphasizing widespread opportunities within biotechs ... see pages 3, 15-19</li></ul>

Key themes:Downgrading Financials. Given the Sector’s relative deterioration, we are downgrading Financials to market weight. Pockets of strength still exist (e.g. exchanges), but breadth is problematic... see page 3Gold miners are bullishly inflecting. A Group we recommended last week, gold miners continue to bullishly inflect. This is a buying opportunity... see pages 3, 8-14Buy biotechs, overweight Health Care. In today’s report we highlight actionable charts throughout Health Care, our top-ranked Sector, emphasizing widespread opportunities within biotechs ... see pages 3, 15-19

U.S. Equity Strategy: Reiterating Biotechs, Gold Miners; Downgrading Financials to Market Weight

A wave of breakouts is visible throughout the global mining industry, where stocks are responding to long-term trend reversals in base metals, including aluminum, copper, and zinc. This is one of our favorite themes, one that we have highlighted extensively over the past several months, especially in our weekly International Compass But is it too late to add exposure? No. Most names, including Alcoa (AA), Freeport-McMoRan (FCX), Norsk Hydro (NHY-NO), are just beginning to break out this week.In today’s report we highlight a selection of actionable charts within this theme, sorted by market capitalization.

A wave of breakouts is visible throughout the global mining industry, where stocks are responding to long-term trend reversals in base metals, including aluminum, copper, and zinc. This is one of our favorite themes, one that we have highlighted extensively over the past several months, especially in our weekly International Compass  But is it too late to add exposure? No. Most names, including Alcoa (AA), Freeport-McMoRan (FCX), Norsk Hydro (NHY-NO), are just beginning to break out this week.In today’s report we highlight a selection of actionable charts within this theme, sorted by market capitalization.

Materials, IPO & Equity Analyst

Venkat Ramana Nandyal

Thematic (Sector/Industry)

Gold has had a great run in the last 15 years, beating almost all the other class. Is it the beginning of an another super cycle or is the current run going to peter out? We analyse gold as an investment vehicle, inflation hedge and its status as “asset of last resort”. We also look at the current trends in demand and supply and try to answer the eternal question “is it the right time to invest in gold or gold stocks”.

Gold has had a great run in the last 15 years, beating almost all the other class. Is it the beginning of an another super cycle or is the current run going to peter out? We analyse gold as an investment vehicle, inflation hedge and its status as “asset of last resort”. We also look at the current trends in demand and supply and try to answer the eternal question “is it the right time to invest in gold or gold stocks”.  

Gold: Is It the Beginning of New Golden Era or End of the Bull Run?

Asia-Focused Industry Research, Speeda Research

Speeda

Asia-Focused Industry Research

Speeda Research

Speeda Research analysts cover China, Japan, India and SEA on the latest trends and topics. We have analysts of diverse nationalities who are able to access information in their respective local languages to provide customers with comprehensive reports. With access to private company data in these regions, Speeda Research is also able to provide insights into niche sectors which are not usually covered by other parties. We are also able to undertake ad hoc company and industry research reports.

<h2>What are the Alternative Taxes and Tariffs Under Consideration and the Objective and the Nature of Each Option?</h2>In the US, the Trump Administration is considering a variety of options to contain the increasing trade deficit, particularly with regard to one the US’ trading partners, Mexico. In 2015, the United States had a USD67bn trade deficit with Mexico in automobiles and auto parts. USD50.5bn in vehicles were shipped to the US from Mexico in 2015. Total exports in auto parts for OEMs and the…

What are the Alternative Taxes and Tariffs Under Consideration and the Objective and the Nature of Each Option?In the US, the Trump Administration is considering a variety of options to contain the increasing trade deficit, particularly with regard to one the US’ trading partners, Mexico. In 2015, the United States had a USD67bn trade deficit with Mexico in automobiles and auto parts. USD50.5bn in vehicles were shipped to the US from Mexico in 2015. Total exports in auto parts for OEMs and the…

Trump Tax Impact on US-Mexico Auto Industry Could Have Greatest Impact on Mazda/Mitsubishi

United States

Newmont Mining Corporation acquires, explores, and develops mineral properties. The Company produces gold from operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Newmont also mines and processes copper in Indonesia.

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Newmont Mining (NEM US)

OceanaGold Philippines (OGP PM) Q1FY26: Net Cash And Trading At A ~11% Yield On 4,500 USD/Oz Gold

OGP: Q1 FY26 - record gold price drives 100%+ revenue growth YoY; FCF $80M/qtr; Net Cash and a 10.9%. dividend yield with gold price at 4,500 USD/oz.

Sameer Taneja

U.S. Equity Strategy: Reiterating Biotechs, Gold Miners; Downgrading Financials to Market Weight

Key themes: Downgrading Financials. Given the Sector’s relative deterioration, we are downgrading Financials to market weight. Pockets of strength...

Vermilion Research

Global Miners Are Breaking Out -- Buy

A wave of breakouts is visible throughout the global mining industry, where stocks are responding to long-term trend reversals in base metals,...

Vermilion Research

Gold: Is It the Beginning of New Golden Era or End of the Bull Run?

Gold has had a great run in the last 15 years, beating almost all the other class. Is it the beginning of an another super cycle or is the current...

Venkat Ramana Nandyal

Trump Tax Impact on US-Mexico Auto Industry Could Have Greatest Impact on Mazda/Mitsubishi

What are the Alternative Taxes and Tariffs Under Consideration and the Objective and the Nature of Each Option?In the US, the Trump Administration...

Speeda Research

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