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>What you need to know: • Andean reported strong Q1 production of 27.3Koz AuEq, which matched our forecast, and increased 28% YoY.</li><li>• Production at San Bartolome beat our estimates by 11%, driven by higher throughput and grades.</li><li>• Q1’s production represents ~26% to the midpoint of guidance despite Q1 typically being the weakest quarter due to seasonality.</li></ul>

What you need to know: • Andean reported strong Q1 production of 27.3Koz AuEq, which matched our forecast, and increased 28% YoY.• Production at San Bartolome beat our estimates by 11%, driven by higher throughput and grades.• Q1’s production represents ~26% to the midpoint of guidance despite Q1 typically being the weakest quarter due to seasonality.

APM: Solid Q1 Production Driven by San Bartolome