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

<ul>
<li>Amerigo reported Q1/26 revenue of $66.2M (+50% YoY) compared to our estimate of $56.8M, driven by a realized copper price of $5.70/lb and positive settlement adjustments.</li>
<li>EBITDA came in at $32.8M (50% margin), well ahead of our 25.1M estimate and more than double the $15.2M reported in Q1/25.</li>
<li>ARG generated $14.5M in FCFF (vs. $4.8M in Q1/25) and ended the quarter with $57.2M in cash and no debt.</li>
</ul>


Amerigo reported Q1/26 revenue of $66.2M (+50% YoY) compared to our estimate of $56.8M, driven by a realized copper price of $5.70/lb and positive settlement adjustments.
EBITDA came in at $32.8M (50% margin), well ahead of our 25.1M estimate and more than double the $15.2M reported in Q1/25.
ARG generated $14.5M in FCFF (vs. $4.8M in Q1/25) and ended the quarter with $57.2M in cash and no debt.


ARG: EBITDA Up 116% YoY on a 29% YoY Increase in Copper Price

Amerigo Resources

ARG: EBITDA Up 116% YoY on a 29% YoY Increase in Copper Price