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

Santacruz Silver Mining / Equity Bottom-Up

<ul>
<li>Santacruz reported its Q2/25 production results, missing our expectations due to flooding at Bolivar which has now been resolved.</li>
<li>AgEq production came in at 3.5Moz compared to our estimate of 4.6Moz, representing -4% QoQ and -15% YoY.</li>
<li>SCZ is up 306% since our initiation report in January, yet still remains mispriced in our view.</li>
</ul>


Santacruz reported its Q2/25 production results, missing our expectations due to flooding at Bolivar which has now been resolved.
AgEq production came in at 3.5Moz compared to our estimate of 4.6Moz, representing -4% QoQ and -15% YoY.
SCZ is up 306% since our initiation report in January, yet still remains mispriced in our view.


SCZ: 홍수로 인한 2분기 생산 실적 부진