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>Sailfish Royalty reported Q4 and 2024 financial results that missed our estimates due to weak silver production from Mako Mining.</li>
<li>The Spring Valley Project is advancing ahead of schedule, and thus, we have pulled our first production start date forward by three quarters.</li>
<li>Please refer to our Spring Valley Updates section.</li>
</ul>


Sailfish Royalty reported Q4 and 2024 financial results that missed our estimates due to weak silver production from Mako Mining.
The Spring Valley Project is advancing ahead of schedule, and thus, we have pulled our first production start date forward by three quarters.
Please refer to our Spring Valley Updates section.


FISH: Increasing Target Price on Spring Valley Advancement

<ul><li>Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe.</li><li>This mainly came from our exposure to precious metals, notably silver.</li><li>Our coverage universe was up 13% during the quarter and 40% over the last year, compared to the TSX, which was up 0.1% and 12%, respectively.</li></ul>

Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe.This mainly came from our exposure to precious metals, notably silver.Our coverage universe was up 13% during the quarter and 40% over the last year, compared to the TSX, which was up 0.1% and 12%, respectively.

BQE Water Inc - Q1/25 Recap: All Our Research in One Place!

Andean Precious Metals  / Equity Bottom-Up

<ul>
<li>The metals and mining market showed a third straight month of strong gains in March as investors moved into safe haven assets to protect from trade tensions and economic uncertainty.</li>
<li>In March, gold was up 3.4%, silver was up 0.8%, and copper was up 6.1%.</li>
<li>The equities largely outperformed compared to the commodities, with the GDX up 15.7%, GDXJ up 17.6%, and SIL up 13.6%.</li>
</ul>


The metals and mining market showed a third straight month of strong gains in March as investors moved into safe haven assets to protect from trade tensions and economic uncertainty.
In March, gold was up 3.4%, silver was up 0.8%, and copper was up 6.1%.
The equities largely outperformed compared to the commodities, with the GDX up 15.7%, GDXJ up 17.6%, and SIL up 13.6%.


Andean Precious Metals Corp - Mining Monthly: March Edition

<ul>
<li>After January’s strong gains in the metals and mining markets, February saw further growth across spot prices with the equities lagging due to cautious investor sentiment.</li>
<li>In February, gold hit all-time highs up 3.4%, silver was up 0.8%, and copper up 6.1%.</li>
<li>The equities underperformed compared to the metals, with the GDX up 1.9%, GDXJ up 0.5%, and SIL up 0.3%.</li>
</ul>


After January’s strong gains in the metals and mining markets, February saw further growth across spot prices with the equities lagging due to cautious investor sentiment.
In February, gold hit all-time highs up 3.4%, silver was up 0.8%, and copper up 6.1%.
The equities underperformed compared to the metals, with the GDX up 1.9%, GDXJ up 0.5%, and SIL up 0.3%.


Giga Metals Corp - Mining Monthly: February Edition

<ul><li>What you need to know: • Following two months of poor returns, the metals and mining market rose sharply in January as tariff uncertainties rose and the treasury yields decreased.</li><li>• In January, gold was up 6%, silver was up 7%, and copper was up 7%.</li><li>The equities exhibited leverage to the commodity price increases, with the GDX up 16%, GDXJ up 15%, and SILJ up 10%.</li></ul>

What you need to know: • Following two months of poor returns, the metals and mining market rose sharply in January as tariff uncertainties rose and the treasury yields decreased.• In January, gold was up 6%, silver was up 7%, and copper was up 7%.The equities exhibited leverage to the commodity price increases, with the GDX up 16%, GDXJ up 15%, and SILJ up 10%.

Allegiant Gold Ltd - Mining Monthly: January Edition

Canada

Sailfish Royalty Corp. operates as a precious metal mining company. The Company explores and produces gold and other precious metal products.

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Sailfish Royalty (FISH CN)

FISH: Increasing Target Price on Spring Valley Advancement

The Spring Valley Project is advancing ahead of schedule, and thus, we have pulled our first production start date forward by three quarters.

Atrium Research

BQE Water Inc - Q1/25 Recap: All Our Research in One Place!

Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe. This...

Atrium Research

Andean Precious Metals Corp - Mining Monthly: March Edition

The metals and mining market showed a third straight month of strong gains in March as investors moved into safe haven assets to protect from trade...

Atrium Research

Giga Metals Corp - Mining Monthly: February Edition

After January’s strong gains in the metals and mining markets, February saw further growth across spot prices with the equities lagging due to...

Atrium Research

Allegiant Gold Ltd - Mining Monthly: January Edition

What you need to know: • Following two months of poor returns, the metals and mining market rose sharply in January as tariff uncertainties rose...

Atrium Research

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