Research from Atrium Research, Atrium Research Corporation

Atrium Research

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.

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

Andean Precious Metals  / Equity Bottom-Up

<ul>
<li>Andean reported strong Q4 financial and operating results from both of its assets with Golden Queen producing 11.8Koz AuEq (+106% YoY) and San Bartolome producing 1.4Moz AgEq (+14% YoY).</li>
<li>Revenue in Q4 came in at $72.8M (+49% YoY) vs. our estimate of $69.3M, supported by the strong precious metals prices.</li>
<li>Adjusted EBITDA was $18.9M (+272% YoY) compared to our estimate of $17.1M.</li>
</ul>


Andean reported strong Q4 financial and operating results from both of its assets with Golden Queen producing 11.8Koz AuEq (+106% YoY) and San Bartolome producing 1.4Moz AgEq (+14% YoY).
Revenue in Q4 came in at $72.8M (+49% YoY) vs. our estimate of $69.3M, supported by the strong precious metals prices.
Adjusted EBITDA was $18.9M (+272% YoY) compared to our estimate of $17.1M.


APM: Record Q4 & 2024 Financials Beat Expectations