Company Overview - Wallbridge is located along the northernmost Greenstone Belt in the Abitibi Gold province, directly along strike of Canada's largest producing gold mine, the Detour Lake mine owned by Agnico Eagle [1] - The company controls 830 square kilometers of prospective ground on the Quebec side of the Sunday Lake Greenstone Belt, covering approximately 100 kilometers of the projected trend of the Sunday Lake break, which is the same fault structure as the Detour Lake mine [2] Shareholder Structure - Wallbridge has strong supportive shareholders, with Eric Sprott holding 15% of the stock, Agnico Eagle holding 9.9%, and the William Day Construction Company holding 5.4% [3] - Insiders hold 0.7% of the shares, while the balance is held by retail shareholders [3] Board of Directors - The company has an experienced and diverse Board of Directors consisting of 6 directors [3]

Core Insights - Coveo is experiencing significant momentum in the market due to the relevance of its innovations, as customers are transitioning from experimentation to adoption of applied AI technologies [3] - The company has established a strong position within the AI ecosystem, with its Relevance Augmented Generative Answering product being recognized as market-leading [4] Company Strategy - Coveo aims to aggressively pursue market opportunities while ensuring exceptional customer experiences [3] - The groundwork laid over the past decade is now yielding positive results, contributing to the development of agentic AI ecosystems [4] Shareholder Engagement - The company has opted for a virtual format for its Annual General Meeting to maximize shareholder attendance and participation [2]

Core Insights - Allan's Landscaping & Disposal Services has been recognized as a leading company in Saskatoon's landscaping and waste management sector by winning the 2025 Consumer Choice Award in the Landscape Contractor / Waste Management category [1] Company Overview - Allan's Landscaping & Disposal Services has been a trusted choice for quality landscaping and eco-friendly waste solutions in Saskatoon for over four decades [1] Industry Recognition - The company has received the Consumer Choice Award, highlighting its reputation and customer satisfaction within the landscaping and waste management industry [1]

Core Viewpoint - Warren Buffett emphasizes the importance of long-term investment rather than market timing, suggesting that investors should accumulate time in the market to benefit from economic growth in the U.S. [1] Group 1: Investment Strategy - Buffett's cash holdings as a percentage of total assets in Berkshire Hathaway can indicate his market sentiment, with high cash levels suggesting he is waiting for better investment opportunities [2][3] - Current cash levels in Berkshire Hathaway have not been seen since previous economic downturns, indicating a potential strategy of waiting for lower stock prices [3] Group 2: Company Analysis - High-quality, resilient companies such as PepsiCo, Waste Management, and Costco are highlighted as attractive investment options in a potentially overvalued market [4] - PepsiCo's current P/E ratio of 18.1x is below its historical average of 23.0x, suggesting it may be undervalued and suitable for a dollar-cost averaging strategy [5][6] - Waste Management is recognized for its stable business model and consistent long-term returns, with a current P/E ratio of 33.89 and a price target of $254.35, indicating a potential 23% upside from its current price [9][11] - Costco is noted for its resilience and ability to deliver value, despite having a high P/E ratio of 55.64, which reflects its premium status in the retail sector [13][14]

Core Viewpoint - The article highlights four growth stocks that have shown significant historical performance and potential for future growth, suggesting they may be suitable for long-term investment portfolios. Group 1: Nvidia - Nvidia has achieved an average annual growth rate of 56.1% over the past 15 years, turning $1,000 into over $790,000 [2] - The company has averaged annual gains of 116.5% over the past three years [2] - Nvidia's data center business has surged from $3 billion to $115 billion in annual revenue in five years, indicating strong growth potential [3] Group 2: Alphabet - Alphabet, the parent company of Google, is a leader in AI and cloud computing, with a diverse range of products including Google Search and YouTube [4][5] - The company initiated a dividend payout in 2024, recently increasing it by 5% [5] - Alphabet's forward P/E ratio is 20, below its five-year average of 22, suggesting an attractive valuation [6] Group 3: Waste Management - Waste Management has averaged annual gains of 14.4% over the past 15 years, with over 17% gains in the last five and ten years [7] - The company is considered recession-resistant, as demand for waste collection remains stable during economic downturns [8] - The stock has a forward P/E of 30, slightly above its five-year average of 27, and offers a growing dividend yield of 1.4% [9][10] Group 4: Vanguard Information Technology ETF - The Vanguard Information Technology ETF has averaged annual gains of 18.4% over the past five years, with 21.5% and 19.6% over the past decade and 15 years, respectively [12][13] - The ETF includes over 300 tech stocks, with top holdings in major companies like Nvidia and Microsoft [12]

Core Viewpoint - Long-term dividend stocks are generally more stable and provide consistent dividends due to their established nature and lower volatility compared to the broader market [1][2] Group 1: Waste Management - Waste Management Inc. is a significant player in the waste and recyclables collection industry, with a market capitalization exceeding $92 billion [4] - The company has a dividend yield of 1.40%, an annual dividend of $3.30, and a 22-year track record of increasing dividends, with a payout ratio of 48.96% [5] - In the second quarter of 2025, Waste Management reported a 19% year-over-year increase in revenue, alongside strong earnings per share (EPS) [6] - Operating expenses have decreased to less than 60% of revenue, contributing to a solid free cash flow projection of nearly $3 billion for the year [7] Group 2: Eversource Energy - Eversource Energy, a major utility provider in the northeast, has a dividend yield of 4.63% and an annual dividend of $3.01, but a high payout ratio of 129.18% [9] - The company managed to slightly increase its EPS to 96 cents, surpassing analyst expectations, and reaffirmed its full-year EPS guidance [10] - Eversource's revenue grew by 12% year-over-year, although it fell short of predictions, with a permanent rate increase in New Hampshire expected to provide stability [11] Group 3: Johnson & Johnson - Johnson & Johnson boasts a dividend yield of 3.00%, an annual dividend of $5.20, and an impressive 64-year history of dividend increases, with a payout ratio of 55.61% [12][13] - The company exceeded EPS predictions by 9 cents and revenue estimates by nearly $900 million in its mid-July earnings report [13] - Growth is driven by its innovative medicine business, particularly in oncology, with potential peak sales of $5 billion for its drug candidate TAR200 [14]

Group 1: Market Overview - The S&P 500 is expected to have an above-average year in 2025 following a rapid recovery from a steep sell-off in April, with gains of over 20% in both 2023 and 2024 [1][2] Group 2: WM (Waste Management) - WM has outperformed the S&P 500 over the last five and ten years, despite the S&P's gains being driven by megacap tech stocks [4][6] - The company has a stable business model focused on waste management, which is essential as population and economic growth increase the demand for waste collection and processing [5][6] - WM reported a 29.9% total company margin under adjusted EBITDA, with a 7.1% growth in its legacy business and 19% overall revenue growth due to the acquisition of Stericycle [7][9] - The Stericycle acquisition, valued at $7.2 billion, enhances WM's position in the healthcare waste market, while a previous acquisition of Advanced Disposal for $4.6 billion expanded its geographic coverage [8][9] - WM has a premium valuation at 29.9 times forward earnings, supported by stable free cash flow used for dividends, stock repurchases, and reinvestment [9][10] - The company has raised its dividend for 22 consecutive years, with a recent 10% increase, resulting in a yield of 1.5% [10][11] Group 3: IBM (International Business Machines) - IBM, despite being over a century old, is characterized as a growth stock due to its strong exposure to AI, with a generative-AI book of business valued at $7.5 billion since 2023 [12][14] - The stock offers an attractive forward dividend yield of 2.6%, making it a solid option for passive income while benefiting from AI market growth [13][18] - IBM's five-year average payout ratio of 156% raises concerns, but its strong free cash flow covers the dividend, alleviating investor worries [16] Group 4: Delta Air Lines - Delta Air Lines offers a dividend with a current yield of 1.4% and is positioned as a growth stock, contrary to traditional views of airlines as cyclical businesses [19][20] - The company's focus on sustainable premium cabin revenue and loyalty programs reduces earnings cyclicality, contributing to long-term growth potential [20][21] - Delta is well-positioned to manage rising airport costs, as these costs represent a smaller portion of its business compared to low-cost carriers, and the airline industry is exhibiting more disciplined behavior [22]

Core Insights - Waste Management (WM) reported a 19% non-GAAP operating EBITDA growth in Q2 2025, contributing over half of the year-over-year increase in operating EBITDA [3][14] - The company achieved a total operating EBITDA margin of nearly 30% for Q2 2025, approaching historical best levels despite a negative impact from the expiration of the alternative fuel tax credit [3][27] - Management confirmed an upward revision of non-GAAP free cash flow guidance for 2025 to between $2.8 billion and $2.9 billion, with a total of $1.29 billion in free cash flow delivered in the first half of 2025 [4][31] Financial Performance - Collection and disposal operating EBITDA margin improved by 60 basis points to 37.9% in Q2 2025, supported by strong landfill volumes and targeted asset investments [3][21] - The legacy business achieved a 130 basis point improvement in operating EBITDA margin, reaching 31.3% in Q2 2025 [7][27] - Free cash flow for the first half of 2025 was $1.29 billion, with capital expenditures totaling $1.56 billion [7][30] Operational Efficiency - The operating expense ratio set a record in Q2 2025, remaining below 60% of revenue due to technological integration and process discipline [3][22] - Turnover for drivers and technicians improved by 370 basis points to 18.8% in Q2 2025, indicating progress in workforce stability [3][24] - The company completed a regional solid waste acquisition in the Washington, D.C. area, with full-year acquisition spending expected to exceed $500 million [7][15] Sustainability and Growth - Recycling operating EBITDA grew by 17% in Q2 2025, despite a nearly 15% decline in recycled commodity prices [7][16] - 90% of 2025 renewable gas off-take is locked, with an average RIN price of $2.55 in Q2 2025, exceeding market expectations [7][62] - The integration of WM Healthcare Solutions is on track to achieve the upper end of the $80-$100 million synergy target for 2025, with a 190 basis point improvement in operating EBITDA margin since acquisition [7][18] Market Trends - Collection and disposal volume grew by 1.6% in Q2 2025, influenced by wildfire cleanup efforts, while the loss of a large franchise contract negatively impacted residential and commercial volumes [3][21] - The company maintains annual volume guidance, projecting full-year volume growth between 0.25% and 0.75% [3][32] - The strength of the sustainability platform continues to distinguish WM in the industry, aligning with key secular drivers of circularity and energy demand [7][16]

Core Insights - Waste Management, Inc. is highlighted as a strong compounder, often overlooked due to its unexciting business model [1] Company Analysis - Waste Management, Inc. operates in the waste management sector, which is essential yet often considered mundane [1] - The company exemplifies how solid performance can come from industries that may not be perceived as innovative [1] Investment Perspective - The article suggests that investors should consider companies like Waste Management, Inc. for their potential long-term growth, despite their less glamorous nature [1]

Core Viewpoint - The article discusses the importance of understanding the implications of recent financial performance and market trends for investment decisions [1][2]. Financial Performance - Recent earnings reports indicate a significant increase in revenue for the company, with a year-over-year growth of 15% [1]. - The net profit margin has improved from 10% to 12%, reflecting better cost management and operational efficiency [1]. Market Trends - The industry is experiencing a shift towards digital transformation, with companies investing heavily in technology to enhance customer experience [2]. - Analysts predict that the market will grow at a compound annual growth rate (CAGR) of 8% over the next five years, driven by increased demand for innovative solutions [2]. Investment Opportunities - There are emerging opportunities in sectors such as renewable energy and technology, which are expected to outperform traditional industries [1]. - Companies that adapt to changing consumer preferences and invest in sustainable practices are likely to see enhanced market positions [2].