Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

Equity Bottom-Up

Tecnoglass, Inc. manufactures and sells architectural glass, windows and related products. The Company offers its products throughout North, Central and South America and serves the global residential and construction industries.

<ul>
<li>Tecnoglass Inc's backlog of nearly $800 million, paired with a production capacity increase, might contribute to significant growth.</li>
<li>The company's single-family offerings are gathering pace amid sound regional targeting by the firm.</li>
<li>A potential opportunity exists for expansion in Colombia, the firm says.</li>
</ul>


Tecnoglass Inc's backlog of nearly $800 million, paired with a production capacity increase, might contribute to significant growth.
The company's single-family offerings are gathering pace amid sound regional targeting by the firm.
A potential opportunity exists for expansion in Colombia, the firm says.


Tecnoglass: Massive Backlog Supported By Operational Efficiency

Sibanye Stillwater Limited is a mining and metals processing group. The Company produces platinum, palladium, and rhodium and gold producer, as well as produces other PGMs, such as iridium and ruthenium, along with chrome, copper and nickel as by-products. Sibanye Stillwater serves customers worldwide.

<ul>
<li>Santaco's taxi strike and ancillary unrest might spark another systemic event in South Africa ahead of its 2024 elections.</li>
<li>However, commodity price risk remains amid an uncertain interest rate outlook.</li>
<li>We lower our valuation of Sibanye's ADRs to $6.29 per share and maintain our neutral outlook.</li>
</ul>


Santaco's taxi strike and ancillary unrest might spark another systemic event in South Africa ahead of its 2024 elections.
However, commodity price risk remains amid an uncertain interest rate outlook.
We lower our valuation of Sibanye's ADRs to $6.29 per share and maintain our neutral outlook.


Sibanye: Dr. Burry's Divestment, Additional Social Unrest, And More

Essential Properties Realty / Equity Bottom-Up

Essential Properties Realty Trust, Inc. operates as a managed real estate company. The Company owns, acquires, and manages single-tenant properties that are net leased on a long-term basis to service-oriented and experience-based businesses. Essential Properties Realty Trust serves customers in the United States.

<ul>
<li>Essential Properties Realty Trust, Inc. has held up well compared to other REITs this year, suggesting it has unique strengths.</li>
<li>The REIT's cash-on-cash returns have increased, indicating a high rental yield relative to purchase price, but valuation risks remain, according to the REIT.</li>
<li>Essential Properties Realty Trust, Inc. (<span class="ticker-hover-wrapper">NYSE:EPRT</span>), unlike many other real estate investment trusts, or REITs, has held up quite well this year, suggesting it possesses significant idiosyncratic strengths.</li>
</ul>


Essential Properties Realty Trust, Inc. has held up well compared to other REITs this year, suggesting it has unique strengths.
The REIT's cash-on-cash returns have increased, indicating a high rental yield relative to purchase price, but valuation risks remain, according to the REIT.
Essential Properties Realty Trust, Inc. (NYSE:EPRT), unlike many other real estate investment trusts, or REITs, has held up quite well this year, suggesting it possesses significant idiosyncratic strengths.


Essential Properties: Rising Cash-On-Cash Returns, But Beware Of Emerging Risks

Ford Motor Company designs, manufactures, and services cars and trucks.  The Company also provides vehicle-related financing, leasing, and insurance through its subsidiary.

<ul>
<li>Ford Motor Company's recent selloff likely provides a lucrative entry point.</li>
<li>Ford's robust second quarter earnings paired with a positive output gap in the U.S. speaks volumes.</li>
<li>Ford possesses high-quality characteristics, lending it the latitude to blossom as credit spreads recede.</li>
</ul>


Ford Motor Company's recent selloff likely provides a lucrative entry point.
Ford's robust second quarter earnings paired with a positive output gap in the U.S. speaks volumes.
Ford possesses high-quality characteristics, lending it the latitude to blossom as credit spreads recede.


Glencore plc is a diversified natural resources company. The Company operates in three groups, metals and minerals, energy products, and agricultural products. Glencore offers its products and services around the world.

<ul>
<li>Glencore plc's first half earnings landed softer than most of its shareholders would've liked.</li>
<li>We think a period of stability is near, but key indicators fail to suggest the miner is set for a steep recovery.</li>
<li>Mining powerhouse, <strong>Glencore plc (OTCPK:GLCNF)</strong> released its first-half earnings results on Tuesday and delivered a few surprises by doing so.</li>
</ul>


Glencore plc's first half earnings landed softer than most of its shareholders would've liked.
We think a period of stability is near, but key indicators fail to suggest the miner is set for a steep recovery.
Mining powerhouse, Glencore plc (OTCPK:GLCNF) released its first-half earnings results on Tuesday and delivered a few surprises by doing so.


Glencore's H1 Earnings: The Market's Not Impressed