Adrian Day

Adrian Day Asset Management
http://adrianday.com

Recent Articles

Orogen Sells Royalty, Rest of Company To Be Spun Off 04/29/2025

Last week, Orogen Royalties Inc. (OGN:TSXV; OGNRF:OTCQX) announced an agreement to be acquired by Triple Flag Precious Metals Corp. (TFPM:TSX; TFPM:NYSE) in a stock and cash transaction valued at CA$2 per share. Global Analyst Adrian Day explains why he thinks this is a big win for shareholders.

Fortuna Sells a Second Mine in Short Order 04/25/2025

Global Analyst Adrian Day reviews recent developments at some of the companies on his list.

Barrick Continues Shift to Copper as Mine Advances 04/21/2025

Some gold companies, including royalty companies, reported preliminary results for the first quarter, some with more fulsome detail than others. Most will report full financials next month.

Tariffs Aggravate Trends Already Underway 04/14/2025

Instead of looking at company news as he usually does, Global Analyst Adrian Day looks at the impact of Trump's tariffs on the economy and markets.

Stock Rotation Will Benefit Gold Stocks 04/08/2025

Adrian Day of Adrian Day Asset Management shares a comprehensive portfolio review, which includes thoughts on the current state of the market, gold, silver, copper, oil and gas, and uranium.

Metalla Ramps up for Strong 2025 and Beyond 04/07/2025

Global Analyst Adrian Day looks at the year-end financials from one more company all have now reported as well as the annual "investor day" at Franco, one of his core holdings.

Another Year of Record Revenue for Orogen 03/31/2025

Global Analyst Adrian Day reviews fourth-quarter financials from the last of the companies on his list to report and address your questions, including on the move of gold from London to New York, on uranium, Mexico, and more.

A New Global Financial Order Lies Ahead 03/25/2025

Global Analyst Adrian Day examines something fundamental, with long-term ramifications for markets and much more. As readers know, Day does not often discuss such broad topics, but he believes this is so important that it needs consideration and thought.

Franco's Results Hit by Panama Loss, but Growing 03/21/2025

Global Analyst Adrian Day reviews of fourth-quarter earnings results as well as other news from several companies on his list. Given the sharp rallies in several gold stocks the metal traded over $3,000 an ounce on Friday Day is holding most of the gold stocks, though the outlook for the year ahead is very strong.

Fortuna Generates Strong Cash Flow as Operations Solid 03/17/2025

Global Analyst Adrian Day just returned from the large PDAC mining convention in Toronto. Now, he updates developments in some companies and stocks on his list, with buying opportunities caused by fund liquidation.

Orogen's Silicon Royalty Continues To Grow 03/03/2025

Three more large gold and silver companies reported, all with good fourth-quarter results, though softer-than-expected guidance for the coming year. Global Analyst Adrian Day discusses below, as well as developments at other companies, including a new resource estimate at Orogen's Silicon-Merlin royalty deposit.

Barrick Beats Guidance Though Cuts Outlook 02/24/2025

Global Analyst Adrian Day looks at quarterly results from several companies, two global companies, and three large gold companies. Though largely positive, Day believes there were several indications of lower results ahead.

Ares Income Falls, but Company Well Positioned 02/18/2025

Global Analyst Adrian Day looks at year-end financial results from a couple of high-yielding global companies, as well as positive updates from a couple of resource companies.

This Is the Perfect Set-up for Gold Stocks 02/11/2025

Global Analyst Adrian Day looks at the changing dynamics in the gold market and argues that this is a very opportune time to buy gold stocks.

Franco Buys Royalties on Large Ontario Gold Camp 02/07/2025

Global Analyst Adrian Day discusses updates on more companies and answers a question on mining in Mexico.

Fortuna Sells a Problem Mine as It Hits Record 02/03/2025

Global Analyst Adrian Day reviews several company updates in the gap since his last letter. This includes some significant news on a couple of companies as well as some larger resource companies reporting preliminary fourth-quarter results and some personnel changes.

Altius Receives Split Arbitration Decision 01/21/2025

The long-awaited arbitration decision on Altius Silicon royalties was received last week, which also saw Barrick finally lose its patience with the government of Mali and issue an ultimatum. With this, Global Analyst Adrian Day looks at these and other developments, as well as look at golds resilience in the face of a strong U.S. jobs report.

Barrick Takes Mali to Arbitration, Situation 'Untenable' 12/27/2024

Global Analyst Adrian Day discusses developments at several companies on his list, some positive, some less so.

Agnico Adds Ounces for Malartic Mill 12/23/2024

Global Analyst Adrian Day reviews recent developments, good and bad, at several companies on his list. He is not adding to many gold stocks right now, given concerns about a possible pullback in the immediate future.

Barrick Revises Outlook but May Have Bottomed 12/12/2024

Global Analyst Adrian Day reviews forecasts and developments at companies on his list.

Is Golds Correction Over? 12/09/2024

Global Analyst Adrian Day answers your questions and looks at gold buying patterns.

Barrick Cuts Outlook Again, but May Have Bottomed 12/04/2024

Two of Global Analyst Adrian Day's holdings held annual investor days, with somewhat subdued forecasts. Today, Day reviews these companies' forecasts as well as developments at other companies on his list.

Post-Election Market Trends: How Long Will They Last? 11/25/2024

Global Analyst Adrian Day shares his thoughts on markets going forward after the U.S. election. Day also shares developments at a couple of companies and answer some of your questions.

Strong Cash Flows but Higher Costs for Resource Companies 11/15/2024

Global Analyst Adrian Day reviews financial results from a slew of companies on his list, mostly resource companies.

Once Again, Agnico Shows Why It Is Top Miner 11/11/2024

Global Analyst Adrian Day reviews results from two high-quality companies, a gold miner and a global blue chip. He also looks at changes in gold trends.

Barrick Disappoints Again; Looks for Strong Q4 11/04/2024

Global Analyst Adrian Day reviews financials and preliminary reports from some major resource companies as well as developments at others. He also answers a reader's question on Newmont: is it a good buy after the sharp drop after its earnings?

Lara's Resource Study Shows Project Potential 10/21/2024

Global Analyst Adrian Day focuses on the eagerly awaited resource estimate for Lara Exploration Ltd.'s (LRA:TSX.V) Planalto copper project, and how it might develop. He also looks at recent announcements from some other companies on his list.

Global Stimulus Will Boost Gold Further 10/16/2024

Global Analyst Adrian Day looks at the current state of play for the gold market and explains why gold stocks are just at the beginning of their bull run. He also looks at recent developments from some of the companies on his list.

Gold Could Correct in Coming Week or Two 10/07/2024

Global Analyst Adrian Day reviews recent developments at some of the companies on his list, along with some of the insights he gained at the recent gold conferences in Colorado.

The Gold Bull Market Is Far From Over 09/30/2024

After returning from two major gold conferences in Colorado, Global Analyst Adrian Day discusses some overall impressions of the state of the market gleaned from the conferences and shares a few top buys on his list.

Orogen Sees Income up Again on Royalty Growth 09/10/2024

Global Analyst Adrian Day shares a few updates from stocks on his list.

Nestle Shocks Market With CEO Changes 09/03/2024

Global Analyst Adrian Day reviews recent developments and earnings from several non-resource companies, some with strong dividend yields.

Franco-Nevada Stock Down in Overreaction to Weak Results 08/23/2024

One up, two down in the latest earnings reports from gold companies, though all three are looking for growth in the rest of the year.

Diverse Issues Offset Mostly Strong Revenues 08/16/2024

Global Analyst Adrian Day reviews results from six major resource companies, four of which are royalty companies.

Agnico Beats With Higher Production and Lower Costs 08/07/2024

Global Analyst Adrian Day discusses quarterly reports and updates from some resource companies on his list, mostly positive, with some still being rated good Buys.

Overreaction to Results Offers Opportunity 07/31/2024

Global Analyst Adrian Day reviews quarterly results and other developments at several companies on his list, mostly his global holdings.

Franco and Osisko Team up for High-Potential Stream 07/26/2024

After extensive travel, including two conferences in the last few weeks, Global Analyst Adrian Day updates us on the news from companies on his list.

Agnico Lays Out Plans for Million-Ounce Producer 06/26/2024

Global Analyst Adrian Day discusses some recent updates on some of the companies on his list.

Money Manager Says Buy This Co. At a Limit of $0.37 06/24/2024

Global Analyst and Money Manager Adrian Day shares his latest recommendation, Fox River Resources Corp. (FOX:CNSX).

Global Analyst Shares Last Opportunity To Buy a Potential Takeover 05/30/2024

Global Analyst Adrian Day reports on a seemingly minor but actually significant development at one of his top holdings, as well as an opportunity to buy a global blue chip on sale.

It Keeps Getting Better 05/22/2024

Global Analyst Adrian Day takes a look at the Silicon-Merlin deposits and the royalties held by two companies on his recommended list, Orogen and Altius. He calculates what they may be worth. He also looks at results and developments at other companies, including two global companies on his list.

Resource Companies Report Strong Results 05/15/2024

Several resource companies on Global Analyst Adrian Day's recommended list reported first-quarter results last week.

Gold Co. Beats Estimates as Panama Goes to the Polls 05/08/2024

Global Analyst Adrian Day looks at quarterly results from a couple of gold majors, as well as mostly positive developments at some others.

Gold Co. Shows Once Again Why It Is Best in Class 05/01/2024

Global Analyst Adrian Day discusses good news at three of his major resource holdings. He notes that Agnico knocked it out of the park, Anglo upped the value of Orogen-'s royalty again, and Osisko had a major stream asset get bigger.

Newsletter Writer Shares Three Explorers To Buy 04/26/2024

Global Analyst Adrian Day reviews three of his favorite junior exploration stocks, which he believes are all Buys.

Barrick's Production Miss Not So Bad? 04/24/2024

Global Analyst Adrian Day looks at more first-quarter results from some resource companies, as well as some positive exploration results that, according to him, could extend a mine's life.

Franco Will Increase Production Without Cobre Panama 04/17/2024

Global Analyst Adrian Day looks at first-quarter results from three resource companies, as well as recaps Francos annual "investor day." Overall, he believes the results were positive.

Investors Move Toward Gold 04/10/2024

Global Analyst Adrian Day looks for signs that investors are finally turning to gold, and provides an update on developments at a couple of stocks on his list.

Are Stocks Near Their Top? 04/03/2024

Global Analyst Adrian Day looks at the overvalued U.S. stock market, and indications that he believes it may be about to break. He also looks at year-end financials from another royalty company.

What To Do with a Crown Jewel? 03/20/2024

Global Analyst Adrian Day reviews year-end financials from the last of his companies to report, as well as looks at other news. Since both of these companies both core holdings for him had previously pre-announced certain metrics, financial results came in as expected.

Chinese Buyers Join Central Banks To Drive Gold Higher 03/13/2024

Global Analyst Adrian Day looks at recent changes in gold demand, as well as report on year-end financials from a couple more companies on his list.

Great Discovery Gets Bigger for Royalty Holders 02/28/2024

Global Analyst Adrian Day reviews year-end financials from several companies in the resource and global markets. Most of them had some disappointing news in their results, according to Day, but he leads with a junior that received some unvarnished great news.

Financial Beats at Gold Companies 02/21/2024

Global Analyst Adrian Day reviews year-end financials from three major gold companies on his list. Although he believes there were some negative aspects, they were for the most part positive.

Double-Digit Yields Available 02/14/2024

Global Analyst Adrian Day reviews recent earnings from some high-yielding stocks, domestic and foreign, as well as looks at recent developments at a few resource companies on his list. He notes that the recent decline in resource stocks presents several buying opportunities.

The Feds Dovish Tilt Means Patience Is Required 02/07/2024

Global Analyst Adrian Day comments on Jerome Powell's latest press comments and looks at recent developments from a few companies on our list of current recommendations.

Barrick Misses Again, With Higher Costs 01/31/2024

Several resource companies provided preliminary fourth-quarter results, with mostly misses on guidance (notwithstanding higher production), higher costs, and weak outlooks for 2024. Global Analyst Adrian Day believes market reactions were overdone, however, making for some very good buys.

New CEOs Are Brought in at Osisko and Lara 01/17/2024

Global Analyst Adrian Day discusses revenue misses and new CEOs as gold companies turn a leaf on the old year.

Feds Pivot Before Inflation Is Quashed To Bring Changes 01/10/2024

Global Analyst Adrian Day takes a look at what changes may lie ahead in the coming year, and how his "current positions" portfolio fits with this anticipated scenario.

Nestle Looks To Healthful Foods To Change Image 01/03/2024

Global Analyst Adrian Day catches up on news from two stocks.

Osisko Pursues Clearer Path: Better Late Than Never 12/20/2023

Several resource companies reported good news this past week, much of it long anticipated but welcome all the same. After the run-up in stock prices this month with the increase in the gold price and following the news, Global Analyst Adrian Day shares his recommendations.

Another Exploration Success for Midland 12/13/2023

Global Analyst Adrian Day reviews news from three of the companies on his list and answers some reader questions.

Francos Woes Continue, Yet Its a Strong Buy 12/08/2023

As gold slips back from new record highs, a record close on Friday, and new high Monday morning, one of Global Analyst Adrian Day's favorite gold holdings has slumped.

Wheaton's Largest Asset Makes Progress 11/30/2023

Global Analyst Adrian Day reviews large developments at four royalty companies.

Mixed Results at Major Resource Companies 11/22/2023

Global Analyst Adrian Day reviews more of the recent quarterly results and other developments from more of the gold and resource companies on his list. Some of these (Barrick and Royal) are from the beginning of the month. Day didnt review all the companies last week, focusing on those with more significant news or that were "Buys" at the time. This week, he completes the review of quarterlies as well as companies with other developments.

Gold Stocks Watch: Earnings Season Brings Volatility 11/17/2023

Global Analyst Adrian Day notes that recent earnings reports from gold and precious metals companies reflected lower production and higher costs amid macroeconomic uncertainty. However, strong balance sheets position leading royalty companies to acquire assets.

Developments Overshadow Results for Resource Companies 11/15/2023

Global Analyst Adrian Day reviews developments at several resource companies on his list. Although there has been some negative news and disappointing quarterly results, Day believes many exciting potential developments are ahead.

Precious Metals Miners Face Challenges and Opportunities 11/07/2023

Precious metals mining companies like Agnico Eagle Mines and Franco-Nevada face production issues, but well-capitalized miners are still finding attractive assets.

Agnicos Production Hit and Costs Up, but Outlook Good 11/01/2023

Global Analyst Adrian Day discusses some set-backs at several major mining companies, as well as stellar results from a top business development company.

Nestle Sees Real Growth Down, on a Strong Swiss Franc 10/25/2023

Global Analyst Adrian Day looks at seemingly weak results from two of his core holdings, in each case with a brighter outlook and an opportunity to buy.

Gold Moves up on Rates as Well as Mid-East 10/18/2023

Several larger mining companies reported preliminary quarterly results this week, mostly production numbers, with full financials to follow, as has become the norm in recent years. Below, Global Analyst Adrian Day looks briefly at these, as well as the gold market in general.

Gold Co. Loses Partner but Value Enhanced! 10/11/2023

Global Analyst Adrian Day takes a look at positive news from three of his favorite resource stocks.

Outlook For Stocks and Gold After Q3 Declines 10/05/2023

Adrian Day, the president of Adrian Day Asset Management, shares a review of the current state of the market. He notes that markets fell in the third quarter as the Fed remained hawkish, though risks may ease next year as growth slows and inflation returns.

Gold Has Fallen but Stocks Are Cheap 10/04/2023

Global Analyst Adrian Day looks at why gold has fallen and suggests it may have further to go. Meanwhile, he takes a look at some gold stocks, which are currently very inexpensive.

Why Are the Stocks So Cheap Relative to Gold? 09/28/2023

Global Analyst Adrian Day discusses some of the highlights of meetings he had with senior gold mining executives at two recent industry conferences.

Nova To Be Acquired by Metalla at 25% Premium 09/13/2023

Global Analyst Adrian Day discusses the recent offer by Metalla Royalty for Nova Royalty Co.

Two Must-Own Companies With a Shared Asset 09/06/2023

Global Analyst Adrian Day looks at two of his favorite companies, both of which have royalties on the same asset.

Gold Company Earnings Mostly Positive 08/30/2023

Global Analyst Adrian Day reviews quarterly earnings reports from several gold companies, most of which were positive, notwithstanding some difficulties. Several are good buys, according to Day.

Company Updates Reveal Strong Buys 08/16/2023

Global Analyst Adrian Day shares updates from several companies this week, both quarterly results and other news. In addition, recent technical difficulties delayed the writing and made this briefer than otherwise. Day aims to send another Bulletin in the coming days with more company updates, and he is also working on an article on the factors that move gold. Day also has more stocks on his list that can be bought currently than he had thought for a while.

Blue Chip Companies See Unexpected Growth 08/02/2023

Global Analyst Adrian Day looks at two top companies that, once again, outperformed expectations. He says, good things come from good companies!

Lower Revenues for Altius, but Outlook Positive 07/26/2023

Global Analyst Adrian Day provides brief updates on two of his favorite resource companies. He also looks at very disturbing activity by banks in England, which he believes is a foretaste of what we can expect once Central Bank Digital Currencies come into force.

Barrick Little Light on Output, on Track for Year 07/20/2023

Global Analyst Adrian Day looks at production results from some gold companies; all will have full financials to follow. With gold and silver stocks jumping in the last week the XAU was up over 7% to its highest level since mid-May we are not chasing now.

CEO's Sudden Departure Raises Concerns 07/12/2023

Adrian Day discusses the surprising dismissal of the CEO at one of his favorite gold royalty companies.

Osisko Adds High-Potential Copper Royalty 07/05/2023

Global Analyst Adrian Day reports on recent acquisitions by two of the royalty companies on his list. Day believes both transactions are positive, and he wants to add to positions.

Agnico Updates Plans for Malartic, Increasing Mine Life 06/28/2023

Global Analyst Adrain Day looks at recent developments at three of his favorite gold companies, one large miner, one royalty generator, and one exploration company. Day believes all three are good buys here.

Equity Markets and Gold After the Fed Pause 06/21/2023

Global Analyst Adrian Day looks at the impact of the Federal Reserves decision to pause raising rates on the markets. And Day updates recent developments at several companies, with several resource companies making attractive asset acquisitions. There are some good buys, according to Day. Resource stocks have given back sufficiently from their early May highs, and the outlook is a little clear.

Orogen Makes High-Potential Acquisition 06/07/2023

Global Analyst Adrian Day discusses a potential company-maker deal by one of his favorite companies. Although the stock moved up a little on the news, it remains below where it traded a month ago and well within its 2023 range, Day notes.

Wheaton Buys New Stream, Continuing Recent Trend 05/24/2023

Two new acquisitions and a string of resignations, along with more quarterly results, have led global analyst Adrian Day to share his thoughts with us. It's been a busy week for some of the companies on his list.

Osisko's Stock Run-up Justified by Growth Ahead 05/17/2023

Global analyst Adrian Day looks at quarterly financials from some of his favorite resource companies. Most had pre-released production, so there were not so many surprises but some insights. There are a few Buys among them.

Recent Acquisitions Pay Off for Royal Gold 05/10/2023

Global analyst Adrian Day looks at the quarterly results from three large royalty companies, a large miner, and a development company. Most of the companies had pre-released production and costs (except Franco) so Day notes few surprises when the full quarterlies came out. Day continues to be cautious in buying.

Fed's Next Move Priced In. What Is After That? 05/03/2023

Global analyst Adrian Day looks at gold and last week's Fed meeting, along with recent results from several diverse companies, including a high-yield U.S. company and global blue chip, as well as two gold and silver companies. All are fighting rising costs and a slowing economy, with different effects on different companies.