The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More

The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

Bitcoin is undervalued based on the drivers of our pricing methodology (number of wallets, contribution of wallets, number of coins in supply). See our model here.Read full newsRead More

Vertex Energy sold its UMO collection and re-refining business at Heartland for net cash proceeds of US$85M. Click here to read my most recent analysis.Read full newsRead More

Brunswick Corporation delivered record financial performance in fiscal 2022 and there are indicators pointing to demand remaining strong for BC. Click here to read more.Read full newsRead More

Intesa Sanpaolo S.p.A. (OTCPK:ISNPY) Q4 2022 Earnings Conference Call February 3, 2023 9:00 AM ETCompany ParticipantsCarlo Messina - Chief Executive OfficerConference Call...Read full newsRead More

The following slide deck was published by Leslie's, Inc.Read full newsRead More

Builders FirstSource, Inc. has had double-digit growth over the past few years due to acquisitions and one-off high product prices. Click here for more on BLDR.Read full newsRead More

I expect LRLCF to report good results in 4Q22, driven by outperformance in the US and Europe, but China may be a drag. Click here to read my analysis of LRLCF.Read full newsRead More

Leslie's, Inc. (NASDAQ:NASDAQ:LESL) Q1 2023 Earnings Conference Call February 2, 2023 4:30 PM ETCompany ParticipantsCaitlin Churchill - Investor RelationsMike Egeck - Chief Executive...Read full newsRead More

The Global X China Financials ETF has lagged behind the broader China recovery this year and bank margins remain pressured by the PBoC's monetary easing.Read full newsRead More

W. P. Carey Inc. has been resilient during an awful REIT trend and has an excellent business model that is very reassuring. Click here for more on WPC stock.Read full newsRead More

2022's Fed gold anomaly is unwinding. Gold didn't soar as inflation raged out of control in its first inflation super-spike since the 1970s thanks to extreme Fed rate hikes.Read full newsRead More

CytoMed Therapeutics has filed proposed terms for an $11 million U.S. IPO. Learn more about GDTC IPO here.Read full newsRead More

Sanofi delivered a good set of numbers and Dupixent is well on track with our estimates. Click here to read our analysis why we think the stock is a buy.Read full newsRead More

Amazon.com, Inc. beat on the topline for its Q4'22, but AMZN missed on earnings. Click here to read my earnings analysis of AMZN stock.Read full newsRead More

Church & Dwight Co, Inc. (NYSE:NYSE:CHD) Q4 2022 Results Conference Call February 3, 2023 1:00 PM ETCompany ParticipantsRichard Dierker - CFO, EVP & Head of Business OperationsBarry...Read full newsRead More

Banco de Chile (NYSE:NYSE:BCH) Q4 2022 Earnings Conference Call February 3, 2023 10:30 AM ETCompany ParticipantsRodrigo Aravena - Chief Economist & Senior Vice President of...Read full newsRead More

Societe Generale's valuation at x0.4 Price to Book makes little sense considering the attractive interest rate environment. Click here for our review of SCGLF.Read full newsRead More

Markel Corporation CEO suggested a way of deriving its value. Article explores a modification of that approach and benchmarks it. Click here for more on MKL.Read full newsRead More

Intel's recent earnings illustrate further deterioration in its businesses. Click here to read my analysis of INTC stock.Read full newsRead More

Coinbase short squeeze has been explosive, and the massive rally over the last few sessions could get worse for shorts. Find out why I rate COIN stock a hold.Read full newsRead More