matejmo/iStock via Getty Images Introduction I haven’t had the chance to review Barrick Mining Corporation ( B ) yet, while covering peers in the mining industry that tend to have a broader asset base. I will now take the plunge following the rally in gold prices and the ensuing normalization despite macro risks ticking up. There are a lot of inherent catalysts to the firm’s valuation, such as gol...
matejmo/iStock via Getty Images Introduction I haven’t had the chance to review Barrick Mining Corporation ( B ) yet, while covering peers in the mining industry that tend to have a broader asset base. I will now take the plunge following the rally in gold prices and the ensuing normalization despite macro risks ticking up. There are a lot of inherent catalysts to the firm’s valuation, such as gold prices, record FCF and the potential incoming IPO of Barrick’s NA gold assets. I will go through them to see if B will continue to offer strong value to shareholders. Current Dynamics I’ll start with the macro backdrop that has pushed gold to rally and falter with the Iran situation. Gold started the year at around $4,384 per ounce and pushed forward to nearly $5,500 an ounce. It now came back to $4,532 as of the last available prices. The current price drivers are structural in my mind, rather than simply speculative, as central bank demand is roughly 585 tonnes per quarter through 2026 , as sovereign wealth funds are diversifying away from dollar-denominated assets. More so, the US-China trade tensions have pushed the Chinese government to diversify away from US treasuries toward gold. The PBOC has been a main actor in this, with its 15th consecutive month of reserve increases bringing the total official gold holdings to 2,308 tonnes . Regulation also played in this facet as Chinese institutional investors are now allowed to allocate up to 1% of their assets directly into bullion . Furthermore, many believe that gold should have continued its rise in price, considering the increased macro risks linked to the Iran conflict, but prices have fallen sharply and have been highly volatile ever since. The downward pressure is essentially linked to the rise in crude prices due to the Strait of Hormuz, which is fueling global inflation fears. This would thus translate in a higher interest rate environment or even increase rates to combat the shock, pushing treasury yields higher...
FGE NexantECA Chairman Emeritus Fereidun Fesharaki says a prolonged 'near-closure' of the Strait of Hormuz could push oil prices to $150-$200/bbl in the next few weeks and trigger severe global economic fallout. He speaks with Haslinda Amin on "Insight with Haslinda Amin." (Source: Bloomberg)
FGE NexantECA Chairman Emeritus Fereidun Fesharaki says a prolonged 'near-closure' of the Strait of Hormuz could push oil prices to $150-$200/bbl in the next few weeks and trigger severe global economic fallout. He speaks with Haslinda Amin on "Insight with Haslinda Amin." (Source: Bloomberg)
(RTTNews) - Asian markets are mixed on Tuesday, following the mixed cues from Wall Street overnight, as traders remained cautious and braced for a prolonged Middle East conflict as the war entered day number thirty-two, with Yemen's Houthi rebels joining the Iran war and addition
(RTTNews) - Asian markets are mixed on Tuesday, following the mixed cues from Wall Street overnight, as traders remained cautious and braced for a prolonged Middle East conflict as the war entered day number thirty-two, with Yemen's Houthi rebels joining the Iran war and addition
Monty Rakusen/DigitalVision via Getty Images Cryoport ( CYRX ) is a global company providing market-leading cryogenic storage systems. The company operates through two segments, Life Sciences Services, which includes biologistics and biostorage services, and Life Sciences Products, which focuses on the manufacturing and sales of cryogenic systems. I believe key competitors could include Thermo Fis...
Monty Rakusen/DigitalVision via Getty Images Cryoport ( CYRX ) is a global company providing market-leading cryogenic storage systems. The company operates through two segments, Life Sciences Services, which includes biologistics and biostorage services, and Life Sciences Products, which focuses on the manufacturing and sales of cryogenic systems. I believe key competitors could include Thermo Fisher Scientific ( TMO ) and specialized logistics providers like World Courier, which is owned by Cencora ( COR ), a drug wholesale and distribution company. Since going public, CYRX has experienced significant volatility. Driven by the biotech boom around 2021, the stock reached record highs of over $80 per share before seeing a gradual pullback into the next few years. Having seen a 5-year low of around $5.5 per share just last year in 2025, CYRX has seen some momentum on a 1-year basis, with the stock up 28.6% and trading around $7.8, demonstrating some resilience. Nonetheless, CYRX is still down around -18% on a YTD basis. I give the stock a buy rating. My conservative 1-year price target of $9.1 per share implies around 17% return for the stock, making CYRX appear undervalued. Financial Reviews Overall, I think fundamentals as of Q4 2025 appear improving, as we saw some robust revenue beats and expanding gross margins, though some bottom-line adjusted EBITDA (aEBITDA) losses remained. Q4 presentation In Q4, CYRX reported a revenue of $45.5 million, a 10% increase YoY, beating the estimates. This suggests a decent double-digit revenue performance, thanks to the decent 16% growth in the Life Sciences Services business. The FY picture is also similar, with Life Sciences Services growing at 18% YoY, overperforming Life Sciences Product, and making up 55% of the business. In FY 2025, CYRX delivered a revenue of $176.2 million, a 12% YoY growth. Q4 presentation Profitability seems better YoY, though as I mentioned earlier, the company still saw an aEBITDA loss of -$1.4 millio...
imaginima/E+ via Getty Images In early December of last year, I detailed how shares of Janus International Group ( JBI ) had taken a hit since I had downgraded the stock from a ‘buy’ to a ‘hold’. That decline amounted to 38.9% at a time when the S&P 500 was up 6.3%. This was a substantial disappointment for those who own the stock most certainly. However, what many viewed as pain, I argued was opp...
imaginima/E+ via Getty Images In early December of last year, I detailed how shares of Janus International Group ( JBI ) had taken a hit since I had downgraded the stock from a ‘buy’ to a ‘hold’. That decline amounted to 38.9% at a time when the S&P 500 was up 6.3%. This was a substantial disappointment for those who own the stock most certainly. However, what many viewed as pain, I argued was opportunity. While I acknowledged that there was weakness in the space and that this weakness would likely continue for the near term, I also made the case that shares were cheap enough to justify a bullish outlook. Since then, however, the stock has fallen another 13.4%. This compares to the 4.5% drop that the market experienced. Some investors might conclude, after such a substantial decline, that maybe there is something broken about the company. I would argue, however, that the market is simply overreacting. This year, as an example, management expects some rather attractive growth on both the top and bottom lines. And based on how the stock is priced on a forward basis, it is difficult to be anything other than bullish about it. I wouldn't be surprised if fundamental performance ends up being weaker than anticipated simply because I am pessimistic about the state of the economy. But for those with a long-term investment horizon, Janus International Group seems to be a very clear candidate for consideration. In fact, I would even go so far as to say that upgrading it to a ‘strong buy’ makes sense here. Upside is warranted Author - SEC EDGAR Data The only new data that investors have from Janus International Group covers through the final quarter of the company's 2025 fiscal year. During that time, revenue amounted to $226.3 million. That's 1.9% below the 230 point $8 million that the company reported the previous year. This pain was driven primarily by the company’s self-storage revenue that comes from new construction. Year over year, revenue plummeted 8.1% from $96.7 mil...
(RTTNews) - Progress Software (PRGS), a provider of AI-powered digital experience and infrastructure software, reported that its net income for its fiscal first quarter ended February 28, 2026 increased to $22.81 million or $0.53 per share from $10.95 million or $0.24 per share l
(RTTNews) - Progress Software (PRGS), a provider of AI-powered digital experience and infrastructure software, reported that its net income for its fiscal first quarter ended February 28, 2026 increased to $22.81 million or $0.53 per share from $10.95 million or $0.24 per share l
Artistic Operations/iStock Editorial via Getty Images In the recent weeks, I wrote numerous articles on firms in the home furnishing retail space, and I was quite pessimistic on all of them. I issued a sell rating on Williams-Sonoma ( WSM ), on Bed Bath & Beyond ( BBBY ), on La-Z-Boy ( LZB ), and on RH ( RH ), just to mention a few. Each time I argued that the macroeconomic landscape is very tough...
Artistic Operations/iStock Editorial via Getty Images In the recent weeks, I wrote numerous articles on firms in the home furnishing retail space, and I was quite pessimistic on all of them. I issued a sell rating on Williams-Sonoma ( WSM ), on Bed Bath & Beyond ( BBBY ), on La-Z-Boy ( LZB ), and on RH ( RH ), just to mention a few. Each time I argued that the macroeconomic landscape is very tough currently for all these retailers, with consumer confidence hovering around its 10-year lows, with significant weakness in the housing market, and with all the interest rate uncertainty driven by the elevated oil prices as a result of the Iran war. I do believe that these macroeconomic factors are going to create significant headwinds for Lovesac's ( LOVE ) business too. Based on the most recent earnings results , one might think that LOVE is different because it managed to grow its sales YoY, despite all the headwinds, but when we look a bit deeper, it is clearly visible that LOVE is no exception. Earnings Results At first it may seem that LOVE delivered strong results, because despite the strong macro headwinds, they managed to grow their sales, but when we look a bit deeper, the picture is not as appealing anymore. It is true that sales grew by as much as 2.7% year-over-year, and it is also true that both showroom and online sales grew. But the sales growth was primarily driven by the addition of 21 new showrooms compared to the prior year. Results (Lovesac) When looking at comparable omnichannel sales, the growth figure is only 0.6% - not even reaching the U.S. inflation figures. Sales (Lovesac) Looking forward, I also do not expect the demand to significantly increase. First of all, consumer confidence is still very low, meaning that people are not likely to start spending on non-essential, durable goods, like the ones LOVE is selling. Second, the housing market also remains weak, which normally softens the demand for furnishing or decor products. U.S. Consumer confid...
Japan’s two-year government bond auction drew demand that was broadly in line with its 12-month average as high yield levels drew investors despite caution over a potential near-term rate hike by the Bank of Japan. The bid-to-cover ratio at Tuesday’s sale was 3.54 compared with 3.32 at the last auction and a 12-month average of 3.59. Japan’s bonds were steady after the sale. The two-year rate, whi...
Japan’s two-year government bond auction drew demand that was broadly in line with its 12-month average as high yield levels drew investors despite caution over a potential near-term rate hike by the Bank of Japan. The bid-to-cover ratio at Tuesday’s sale was 3.54 compared with 3.32 at the last auction and a 12-month average of 3.59. Japan’s bonds were steady after the sale. The two-year rate, which is more sensitive to monetary policy expectations, climbed to its highest level since 1995 last week. The BOJ kept the possibility of an April interest rate hike on the table after leaving policy unchanged at its latest meeting. Overnight index swaps show about a 68% chance of a move in April. Japan is one the most vulnerable to the fallout of the Middle East tensions among major economies, with more than 90% of oil imports coming from the region. The nation’s government bonds are grappling with concerns about inflation and economic growth as oil prices have soared since the Iran war broke out. Investors are speculating that the BOJ may also need to raise rates soon to help curb the yen’s weakness after the currency hit its lowest level since July 2024 against the dollar. Governor Kazuo Ueda said this week that currency movements are a factor with a big impact on the economy and prices. The BOJ’s policy board presented a hawkish posture in a summary of opinions aired during their meeting earlier this month, with one member hinting at the possibility of having to respond to the Middle East conflict with a bigger rate hike than those recently undertaken.