Core Insights - The Mosaic Company (MOS) reported a loss of $1.64 per share for Q4 2025, a significant decline from earnings of 53 cents per share in the same quarter last year [1] - Adjusted earnings per share were 22 cents, down from 45 cents a year ago, and below the Zacks Consensus Estimate of 48 cents [1] - Net sales increased nearly 6% year over year to $2,973.7 million, but fell short of the Zacks Consensus Estimate of $3,206.8 million [1] Segment Highlights - Potash segment net sales were $0.7 billion, up approximately 17% year over year, with sales volume flat at 2.2 million tons, missing the estimate of 2.6 million tons [2] - The gross margin for the Potash segment rose to $115 per ton from $55 per ton year over year, while the average MOP selling price increased to $264 per ton from $199 per ton [2] - Phosphate division net sales were $1 billion, down from $1.2 billion a year ago, with sales volume decreasing to 1.3 million tons from 1.6 million tons, also missing the estimate of 1.9 million tons [3] - The gross margin in the Phosphate segment fell to $17 per ton from $85 per ton, while the average DAP selling price rose to $686 per ton from $593 per ton [3] - Mosaic Fertilizantes segment net sales were $1.1 billion, flat year over year, with sales volume down to 2.1 million tons from 2.2 million tons, missing the estimate of 3.2 million tons [4] - The gross margin in the Fertilizantes segment decreased to $10 per ton from $46 per ton in the prior-year quarter [4] Financials - At the end of the quarter, Mosaic had cash and cash equivalents of $276.6 million, a 1.4% increase from the prior year [5] - Long-term debt rose to $4,250.9 million, up around 28% year over year [5] - Net cash used in operating activities was $56.1 million in the reported quarter [5] Outlook - For Q1 2026, Mosaic expects potash sales volumes between 2 million tons and 2.2 million tons, with realized mine gate MOP prices projected at $255-$275 per ton [6] - Phosphate sales volumes are forecasted to be 1.7-1.9 million tons, with DAP prices expected in the range of $640-$670 per ton [6] - Mosaic Fertilizantes sales volumes for Q1 2026 are projected to be below the prior-year quarter [6] - For the full year 2026, phosphate production volumes are expected to be at or above 7 million tons, while potash production is projected at roughly 9 million tons [7] Price Performance - Mosaic's shares have gained 10.2% over the past year, compared to a 19.7% rise in the Zacks Fertilizers industry [10]

Key Takeaways CC reported a wider Q4 net loss as sales fell 2% and EBITDA slipped 24% year over year. Chemours saw 14% sales growth in Thermal & Specialized Solutions on strong refrigerant pricing. CC expects 3-5% sequential sales growth in Q1, with 2026 EBITDA guided at $800-$900 million. The Chemours Company (CC) reported a net loss of $47 million or 31 cents per share for the fourth quarter of 2025. This compares unfavorably with the year-ago quarter's net loss of $11 million or 8 cents.Barring one-time ...

Core Insights - Newmont Corporation (NEM) reported fourth-quarter 2025 earnings of $1.19 per share, a decrease from $1.24 in the same quarter last year, but adjusted earnings rose to $2.52 per share from $1.40, exceeding the Zacks Consensus Estimate of $2.03 [1][8] Financial Performance - Revenues for the fourth quarter reached $6,818 million, a 20.6% increase from $5,652 million in the prior-year quarter, surpassing the Zacks Consensus Estimate of $6,056 million, driven by higher realized gold prices [2][8] - The company's cash and cash equivalents stood at $7,647 million, up 111.3% year over year, while long-term debt decreased by 32.3% to $5,115 million [5][8] Operational Highlights - Attributable gold production for the fourth quarter was 1.45 million ounces, a 2% increase from the previous quarter but down 23.7% year over year, exceeding the estimate of 1.42 million ounces [3][8] - Average realized gold prices increased by 59.5% year over year to $4,216 per ounce, surpassing the estimate of $3,560 per ounce [3][8] Cost Analysis - Costs applicable to sales (CAS) for gold were $1,166 per ounce, a 6.4% increase year over year, but below the estimate of $1,175 per ounce [4] - All-in-sustaining costs (AISC) for gold rose by 10.7% year over year to $1,620 per ounce, higher than the estimate of $1,531 per ounce [4] Future Outlook - Newmont anticipates gold production for 2026 to be approximately 5.26 million ounces, with projected total CAS for gold at $1,055 per ounce and AISC at $1,680 per ounce [6] - General and Administrative expenses for 2026 are expected to be around $375 million, with reclamation and remediation accretion projected at $385 million and exploration expenses at $525 million [6] Stock Performance - Newmont's shares have increased by 176.6% over the past year, outperforming the industry average rise of 144.4% [7][8]

Core Insights - Element Solutions Inc. (ESI) reported earnings of 3 cents per share for Q4 2025, down from 23 cents in the same quarter last year, but adjusted earnings were 37 cents per share, exceeding the Zacks Consensus Estimate of 36 cents [1][7] - The company achieved net sales of $676.2 million, an increase of approximately 8% year-over-year, surpassing the Zacks Consensus Estimate of $623.9 million, with organic net sales rising by 10% [1][7] Financial Performance - ESI's Electronics segment saw net sales increase by 21% year-over-year to $487.3 million, with organic net sales up 13%, beating the consensus estimate of $436 million [3] - In contrast, the Specialties segment experienced a 15% decline in net sales to $188.9 million, although organic net sales increased by 4%, exceeding the consensus estimate of $188 million [3][2] Financial Position - At the end of the quarter, ESI had cash and cash equivalents of $626.5 million, a 74.3% increase from the previous year, while long-term debt decreased to $1,625.9 million from $1,813.6 million [4] - Cash from operating activities was reported at $91.1 million, with free cash flow amounting to $82.8 million for the quarter [4] Future Outlook - For the full year 2026, ESI anticipates adjusted EBITDA in the range of $650 million to $670 million, with a first-quarter expectation of adjusted EBITDA between $140 million and $155 million [5][7] Stock Performance - ESI's shares have increased by 22.4% over the past year, compared to a 3.1% rise in the industry [6]

Company Overview - Orla Mining Ltd. (NYSE:ORLA) is engaged in the development, acquisition, and exploration of mineral properties, focusing on copper, gold, zinc, silver, and lead deposits. The company owns 100% interests in the Camino Rojo project and is involved in the acquisition of the Musselwhite Gold Mine project. Founded in 2007, Orla Mining is based in Vancouver, Canada [4]. Analyst Ratings and Price Targets - CIBC analyst Cosmos Chiu raised the price target for Orla Mining Ltd. from C$27 to C$32 while maintaining an Outperformer rating, following an upward revision of gold price outlook to $6,000 per ounce in 2026 and $6,500 in 2027 [1]. - BMO Capital also increased its price target for Orla Mining from C$22 to C$30, with a Buy rating, indicating a potential upside of 27% from current levels, which aligns with a median Wall Street analyst upside of 24.26% based on 10 analysts covering the stock [3]. Market Outlook - The major demand drivers for the precious metals sector in 2025 are expected to continue into 2026, supporting the positive outlook for Orla Mining and the broader sector [1].

Core Insights - Orla Mining Ltd. is identified as one of the most undervalued gold stocks, with analysts recommending it as a buy [1] - Price targets for Orla Mining have been raised by multiple firms, reflecting a positive outlook for the precious metals sector [2] Group 1: Analyst Ratings and Price Targets - Stifel analyst Ingrid Rico increased the price target for Orla Mining to C$35 from C$28 while maintaining a Buy rating [1] - CIBC raised its price target for Orla Mining to C$32 from C$27, also with a Buy rating, as part of a broader increase in targets across the precious metals sector [2] Group 2: Production and Financial Position - In Q3 2025, Orla Mining achieved significant gold production, with the Musselwhite mine contributing nearly 58,000 ounces and Camino Rojo producing over 22,000 ounces despite operational challenges [3] - Orla Mining has a robust liquidity position of $357 million, enabling it to advance key growth initiatives, including the South Railroad project in Nevada and the Camino Rojo underground expansion [3] Group 3: Market Context - The adjustments in price targets are influenced by increased gold price forecasts, with expectations of $6,000 per ounce for 2026 and $6,500 for 2027, alongside raised copper price assumptions [2]

Price Target Increases - BMO Capital raised its price target on Orla Mining Ltd. to C$30 from C$22, maintaining an Outperform rating, reflecting confidence in the company's performance and outlook [1] - Scotiabank also increased its price target for Orla Mining to C$26.50 from C$21, while keeping an Outperform rating [1] Production Performance - Orla Mining exceeded its revised annual production guidance for 2025, producing 300,620 ounces of gold, surpassing the revised range of 265,000 to 285,000 ounces [2] - The company expects its full-year 2025 all-in sustaining costs to be within the updated guidance of $1,350 to $1,550 per ounce [2] Financial Position - As of December 31, 2025, Orla reported cash of $420.8 million and debt of $385.9 million, resulting in a net cash position of $35.8 million, which provides financial flexibility for growth investments [3] Exploration Results - Orla provided an update on exploration results at the Musselwhite Mine, confirming high-grade gold mineralization extending approximately two kilometers beyond current operations [4] - Significant gold mineralization was reported, including 5.0 meters at 5.57 g/t Au, with a notable intersection of 1.0 meter at 8.79 g/t Au [4] Company Overview - Orla Mining Ltd. is a Canada-based company focused on acquiring, developing, and operating mineral properties, with a portfolio that includes two operating mines and one development-stage project, all 100% owned [5]

Core Insights - Fairfax Financial's latest 13F indicates a strong commitment to real assets, energy, and restructuring platforms with minimal portfolio turnover, reflecting satisfaction with current holdings rather than tactical changes [1] Company Summaries - **Orla Mining (ORLA)**: Maintained a position of 56.8 million shares valued at $610.5 million, representing approximately 29.6% of the portfolio, indicating confidence in asset durability and inflation hedging [2] - **Occidental Petroleum (OXY)**: Held 6.05 million shares worth $285.9 million, about 13.9% of the portfolio, with no changes made, suggesting satisfaction with risk/reward dynamics as the company focuses on deleveraging [3] - **BlackBerry (BB)**: Reduced position by 5,389,380 shares to 35.4 million shares valued at $172.3 million, approximately 8.4% of the portfolio, reflecting a pragmatic de-risking approach amid ongoing restructuring [4] - **Kraft Heinz (KHC)**: Increased position by 235,000 shares to 5.12 million shares valued at $133.2 million, around 6.5% of the portfolio, consistent with a strategy of accumulating cash flow at discounted valuations [5] - **Molson Coors (TAP)**: Added 71,571 shares for a total of 1.29 million shares valued at $58.4 million, approximately 2.8% of the portfolio, indicating a preference for staples with pricing power [6] - **Vanguard S&P 500 ETF (VOO)**: Trimmed position by 14,652 shares to 58,248 shares valued at $35.7 million, about 1.7% of the portfolio, reflecting a strategy to reduce passive index exposure [7] - **Helmrich & Payne (HP)**: Increased position by 200,000 shares to 1.17 million shares valued at $25.9 million, approximately 1.3% of the portfolio, indicating a thematic bet on energy services and capital discipline [8] - **Full Exits**: Autohome (ATHM) and Lifeway Foods (LWAY) were fully exited, reflecting a cleanup of non-core positions [9] Portfolio Themes - **Low Turnover = High Conviction**: The stability of the portfolio suggests that Fairfax is already positioned for the macro environment anticipated last year [11] - **Hard Asset & Energy Bias**: The focus on ORLA, OXY, and HP highlights a preference for inflation hedging and real asset valuations [12] - **Restructuring Optionality**: BlackBerry is viewed as a multi-year operational value unlock rather than a growth investment [13] - **Cash Flow Defensives**: KHC and TAP are seen as providing income stability and potential for margin recovery [14] Takeaway - Fairfax remains committed to a strategy focused on value and optionality rather than momentum or AI trends, emphasizing hard assets and cash-flow consumers to realize intrinsic value [15]

Core Viewpoint - Orla Mining Ltd. has experienced significant growth in its share prices, driven by a surge in gold prices and a record-breaking production performance in the previous year [1][3]. Group 1: Stock Performance - Orla Mining's share prices increased by 25% week-on-week, reaching an all-time high [1]. - On a single trading day, the stock peaked at $18.50 before closing at $18.45, reflecting a 5.91% increase [2]. Group 2: Gold Market Context - Gold prices reached a new record high of $4,900, attracting investor interest amid geopolitical tensions and trade uncertainties [3]. - The demand for precious metals as safe assets has been bolstered by ongoing global uncertainties [3]. Group 3: Production Achievements - Orla Mining exceeded its total production target for the year, achieving 300,620 ounces against a guidance of 265,000 to 285,000 ounces [3]. - The company sold 297,013 ounces of gold during the same year [4]. - The President and CEO highlighted the company's successful execution and the strength of its diversified portfolio, particularly in Mexico and Canada [5].

Core Insights - The article discusses seven new dividend payouts from various companies, highlighting their potential as investment opportunities due to initial high yields and growth prospects [2][3] Group 1: Tutor Perini (TPC) - Tutor Perini announced its first dividend of $0.06 per share with a yield of 0.3%, marking a significant turnaround after three years of net losses [4][5] - The company reported record operating cash flow of $574.4 million and a backlog of $21.6 billion by Q3 2025, leading to a tripling of its share price in 2025 [5] - For full-year 2025, Tutor Perini is expected to report a profit of $4.10 per share, with the dividend representing only 6% of earnings, indicating room for future increases [6] Group 2: Orla Mining (ORLA) - Orla Mining initiated a quarterly dividend of $0.015 with a yield of 0.4%, transitioning from a junior miner to a mid-tier producer [7][8] - The company experienced a 143% increase in share price in 2025 and is expected to report a smaller profit for 2025 after doubling its net income in 2024 [9] - Future dividend growth may be limited due to the cyclical nature of mining profits, but management is confident in the sustainability of profits [10] Group 3: ePlus (PLUS) - ePlus announced a quarterly dividend of $0.25 with a yield of 1.1%, providing IT and professional services [12] - The company has seen a 2,000% increase in share price over the past 15 years, but is currently navigating mixed financial results [13][14] - Revenue growth is expected to be high-single-digit, but earnings per share are projected to decline in the current fiscal year [14] Group 4: Visteon (VC) - Visteon initiated a quarterly dividend of $0.275 with a yield of 1.2%, focusing on automotive technology [15][16] - After a history of volatility and declining net income, the company has shown a stable rebound in profits during the 2020s [17] - Despite the dividend announcement, the stock experienced a selloff following the first payment [17] Group 5: G-III Apparel Group (GIII) - G-III announced a quarterly dividend of $0.10 with a yield of 1.3%, operating in the apparel sector [18][19] - The company has seen steady net income, despite a loss in fiscal 2023 due to brand writedowns and supply chain issues [19][20] - G-III's dividend announcement reflects a strategy to attract shareholders amid limited growth prospects [20] Group 6: California BanCorp (BCAL) - California BanCorp initiated a quarterly dividend of $0.10 with a yield of 2.2%, showing rapid revenue growth from $13.6 million in 2015 to $180 million in 2024 [21][22] - Despite the growth, the company's stock has not seen significant appreciation, but the dividend may change investor sentiment [23] Group 7: Carnival Corp. (CCL) - Carnival Corp. announced a quarterly dividend of $0.15 with a yield of 2.1%, marking a resumption of its dividend program suspended during COVID-19 [24][26] - The company reported a substantial profit in 2024, returning to pre-COVID profit levels in 2025, indicating recovery from the pandemic's impact [26]