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 Q4 &amp; 2025 financial results, generating revenue of $50.8M (+12% YoY) vs. our expectation of $53.2M, driven by the lower copper price.</li>
<li>EBITDA was $19.5M vs. $17.3M expected while OCF was $13.8M vs. $13.5M expected.</li>
<li>Annual results were also very strong, with revenue increasing 22% and adjusted EBITDA increasing 99%; exceeding annual guidance.</li>
</ul>


Amerigo reported Q4 &amp; 2025 financial results, generating revenue of $50.8M (+12% YoY) vs. our expectation of $53.2M, driven by the lower copper price.
EBITDA was $19.5M vs. $17.3M expected while OCF was $13.8M vs. $13.5M expected.
Annual results were also very strong, with revenue increasing 22% and adjusted EBITDA increasing 99%; exceeding annual guidance.


ARG: Strong Cashflow in Q4; High Copper Price Setting Up Q1

Amerigo Resources

ARG: Strong Cashflow in Q4; High Copper Price Setting Up Q1