SR Strathcona Resources (SCR) — Stock Analysis 2026 [3.9] Strathcona Resources is a Calgary-based, Waterous Energy Fund-controlled heavy oil producer that spent 2025 turning itself into something rare in Canadian energy: a pure-play, long-life thermal and heavy oil company, … Last Update Sep 9, 2026 · 80 min read · Oil and GasNatural GasCompany Analysis
CE Cenovus Energy (CVE) — Stock Analysis 2026 [3.8] Cenovus Energy spent 2025 doing two things at once: buying scale and shedding complexity. The thesis in one line: a US$7.1-billion, mostly-share acquisition of MEG Energy added more than 36.5 million barrels a year of … Last Update Sep 9, 2026 · 73 min read · Oil and GasNatural GasCompany Analysis
UR Uranium Royalty Corp (UROY) — Stock Analysis 2026 [3.9] Six weeks ago, Uranium Royalty Corp was a small, mostly pre-cash-flow uranium royalty company that made almost all of its money trading its own physical uranium stockpile. Then it wasn’t: on 27 July 2026 it closed the … Last Update Sep 8, 2026 · 79 min read · UraniumEnergy MetalsCompany Analysis
OV Ovintiv (OVV) — Stock Analysis 2026 [3.6] Ovintiv spent two years reshaping itself from a sprawling, four-basin generalist into a focused, two-play North American oil producer. It bought oil-rich Montney acreage in Alberta from Paramount Resources and NuVista … Last Update Sep 7, 2026 · 66 min read · Oil and GasNatural GasCompany Analysis
OP Occidental Petroleum (OXY) — Stock Analysis 2026 [3.7] Occidental spent 2025 and the first half of 2026 doing the one thing the market had waited six years to see: cutting the Anadarko-era debt down to size. The US$9.7 billion sale of OxyChem to Berkshire Hathaway (closed 2 … Last Update Sep 9, 2026 · 83 min read · Oil and GasNatural GasCompany Analysis
ER EOG Resources (EOG) — Stock Analysis 2026 [4.7] For a quarter of a century EOG Resources has been the company other US shale operators are measured against — the disciplined, low-cost, technically-driven independent that pioneered the “premium” drilling hurdle and … Last Update Sep 7, 2026 · 68 min read · Oil and GasNatural GasCompany Analysis
DE Diamondback Energy (FANG) — Stock Analysis 2026 [4.2] Diamondback spent two years turning itself into the Permian’s last great consolidator. With the ~US$26 billion Endeavor Energy Resources merger in September 2024 and the ~US$4 billion Double Eagle bolt-on in April 2025, … Last Update Sep 7, 2026 · 69 min read · Oil and GasNatural GasCompany Analysis
DE Devon Energy (DVN) — Stock Analysis 2026 [4.1] Devon Energy has become one of the largest independents in US shale. Its all-stock merger of equals with Coterra Energy — closed in May 2026 — pairs Devon’s oil-rich, four-basin base with Coterra’s premier Marcellus gas … Last Update Sep 7, 2026 · 73 min read · Oil and GasNatural GasCompany Analysis
CN Canadian Natural Resources (CNQ) — Stock Analysis 2026 [4.5] Canadian Natural Resources is the largest independent oil and gas producer in Canada and one of the few companies anywhere that mines bitumen, drills conventional oil and gas, runs thermal steam projects, and upgrades … Last Update Sep 7, 2026 · 84 min read · Oil and GasNatural GasCompany Analysis
AM Aris Mining (ARIS) — Stock Analysis 2026 [3.9] Aris Mining runs two of the highest-grade underground gold mines in the Americas — Segovia’s reserves average 10.70 g/t, five times a typical open-pit senior’s grade — while assembling two of South America’s largest … Last Update Sep 7, 2026 · 77 min read · GoldPrecious MetalsCompany Analysis
AR Antero Resources (AR) — Stock Analysis 2026 [3.7] Antero Resources sells the richest barrel-equivalent in Appalachia and pays the highest toll to get it to market. In FY2025 it realised US$3.99 per thousand cubic feet equivalent — 45% more than its nearest dry-gas … Last Update Sep 6, 2026 · 81 min read · Natural GasOil and GasCompany Analysis
CR CNX Resources (CNX) — Stock Analysis 2026 [3.7] CNX Resources is the quiet, unfashionable end of Appalachian gas: no dividend, 390 employees, almost no liquids, and a business built on owning four million acres of Pennsylvania, West Virginia, Ohio and Virginia … Last Update Sep 6, 2026 · 79 min read · Natural GasOil and GasCompany Analysis
RR Range Resources (RRC) — Stock Analysis 2026 [4.5] Range Resources owns twenty-two years of reserves and is in no hurry to produce them. That single fact explains almost everything: why its free-cash-flow yield screens as the thinnest in the basin, why management holds … Last Update Sep 9, 2026 · 74 min read · Natural GasOil and GasCompany Analysis
EE Expand Energy (EXE) — Stock Analysis 2026 [4.2] Expand Energy is the largest independent natural gas producer in the United States, and it is the company in this series where the valuation asks the reader to believe something specific and checkable: that Henry Hub … Last Update Sep 6, 2026 · 71 min read · Natural GasOil and GasCompany Analysis
NS Northern Star (NST) — Stock Analysis 2026 [3.6] Northern Star is Australia’s largest gold miner, it owns the biggest gold mine in the country, and it has just spent three years and A$1.6 billion rebuilding that mine’s processing plant while missing its own guidance … Last Update Sep 2, 2026 · 82 min read · GoldPrecious MetalsCompany Analysis
WR Whitecap Resources (WCP) — Stock Analysis 2026 [4.2] Whitecap spent 2025 turning itself into one of Canada’s largest oil and gas producers in a single stroke, and Q2 2026 was the quarter that proved the deal out. The ~C$15 billion all-share combination with Veren (the … Last Update Sep 2, 2026 · 65 min read · Oil and GasNatural GasCompany Analysis
EC EQT Corporation (EQT) — Stock Analysis 2026 [4.3] EQT is the only large-scale natural gas producer in the United States that owns the pipes its own gas flows through, and in 2025 that stopped being a slogan and started showing up in the accounts: transportation and … Last Update Sep 4, 2026 · 80 min read · Natural GasOil and GasCompany Analysis
PM Pilbara Minerals (PLS) — Stock Analysis 2026 [4.3] Pilbara Minerals owns one of the two best hard-rock lithium mines on earth and roughly A$2.3 billion of net cash, and it has spent the downturn getting leaner rather than smaller. The thesis in one line: a tier-one, … Last Update Aug 26, 2026 · 36 min read · LithiumBattery MetalsCompany Analysis
AL Albemarle (ALB) — Stock Analysis 2026 [4.1] Albemarle is the world’s largest lithium producer, and it owns the two best lithium assets on the planet — a half-share of Greenbushes and all of the Salar de Atacama. The thesis in one line: a genuinely tier-one lithium … Last Update Aug 26, 2026 · 38 min read · LithiumBattery MetalsCompany Analysis
MO Mosaic (MOS) — Stock Analysis 2026 [3.4] Mosaic is the world’s second-largest potash producer and one of its three largest phosphate producers — a pure-play crop-nutrient miner, without the retail arm that steadies its larger rival Nutrien. It trades at roughly … Last Update Aug 25, 2026 · 34 min read · PotashAgricultureCompany Analysis
NU Nutrien (NTR) — Stock Analysis 2026 [4.2] Nutrien is the largest crop-nutrient company in the world and, unusually, its own biggest customer’s supplier twice over: it mines about a fifth of the planet’s potash from six Saskatchewan mines and then sells crop … Last Update Aug 25, 2026 · 35 min read · PotashAgricultureCompany Analysis
VA Vale (VALE) — Stock Analysis 2026 [3.8] Vale is the world’s largest iron ore producer and one of its lowest-cost, sitting on the high-grade Carajás orebody in the Amazon — and, increasingly, a copper-growth story wrapped around that cash engine. The thesis in … Last Update Aug 23, 2026 · 42 min read · IronCopperBase MetalsCompany Analysis
GL Glencore (GLEN) — Stock Analysis 2026 [3.5] Glencore is the most unusual of the mining majors: half a diversified miner — copper, cobalt, zinc, nickel and one of the largest coal businesses on earth — and half a global commodity-trading house whose Marketing arm … Last Update Aug 23, 2026 · 45 min read · CopperCoalBase MetalsCompany Analysis
CH Chevron (CVX) — Stock Analysis 2026 [3.8] Chevron is the second-largest US oil major and, after the hard-fought Hess acquisition finally closed in July 2025, a company whose growth engine looks a lot like ExxonMobil’s — a low-cost Permian position, a stake in … Last Update Aug 23, 2026 · 45 min read · Oil and GasNatural GasCompany Analysis
EX ExxonMobil (XOM) — Stock Analysis 2026 [4.3] ExxonMobil is the largest Western investor-owned oil company, and after a decade of portfolio surgery it is also the industry’s clearest growth story: two of the best assets discovered this century — the Permian shale … Last Update Aug 23, 2026 · 49 min read · Oil and GasNatural GasCompany Analysis
FR Fresnillo (FRES) — Stock Analysis 2026 [4.2] Fresnillo is the world’s largest primary silver producer and Mexico’s largest gold producer — eight low-cost mines strung across four Mexican silver-gold districts, 75%-owned by Grupo BAL’s Industrias Peñoles, sitting on … Last Update Aug 20, 2026 · 32 min read · SilverPrecious MetalsCompany Analysis
UE Uranium Energy (UEC) — Stock Analysis 2026 [3.7] Uranium Energy Corp has assembled the largest fully-permitted in-situ recovery uranium platform in the United States — and then spent 2025 proving how much cheaper it is to buy pounds than to produce them. The thesis in … Last Update Aug 20, 2026 · 33 min read · UraniumEnergy MetalsCompany Analysis
NE NexGen Energy (NXE) — Stock Analysis 2026 [4.2] NexGen owns a single hole in the ground in northern Saskatchewan that is, by grade and scale, the best undeveloped uranium deposit anyone has ever found. The thesis in one line: the Arrow deposit at Rook I holds 239.6 … Last Update Aug 20, 2026 · 38 min read · UraniumEnergy MetalsCompany Analysis
KA Kazatomprom (KAP) — Stock Analysis 2026 [4.2] Kazatomprom mines roughly one in every four pounds of uranium produced on Earth, and it does so more cheaply than anyone else alive. The thesis in one line: the national atomic company of Kazakhstan controls ~735 million … Last Update Aug 20, 2026 · 39 min read · UraniumEnergy MetalsCompany Analysis
RT Rio Tinto (RIO) — Stock Analysis 2026 [3.9] Rio Tinto is the second-largest diversified miner on earth, and for most of its modern life a machine for turning Western Australian iron ore into dividends. The thesis in one line: a mature, tier-1 Pilbara iron ore … Last Update Aug 19, 2026 · 37 min read · IronCopperBase MetalsCompany Analysis
FR Freeport-McMoRan (FCX) — Stock Analysis 2026 [4.1] Freeport-McMoRan is the largest publicly-traded copper producer in the world outside the state giants, and the purest large-cap bet a US investor can take on the metal that electrifies. The thesis in one line: a … Last Update Aug 19, 2026 · 33 min read · CopperGoldBase MetalsCompany Analysis
PR Parex Resources (PXT) — Stock Analysis 2026 [3.2] Parex Resources is the cheapest name in this coverage and the one whose price is almost entirely a jurisdiction story. The thesis in one line: a ~16.4 mmboe/yr, Brent-linked Colombian oil producer with a deep 2P reserve … Last Update Aug 14, 2026 · 39 min read · Oil and GasCompany Analysis
HE Headwater Exploration (HWX) — Stock Analysis 2026 [4.2] Headwater Exploration is the purest, best-run expression of the Clearwater heavy-oil play — a debt-free growth story built by the same management team that created and sold Raging River Exploration. The thesis in one … Last Update Aug 14, 2026 · 37 min read · Oil and GasCompany Analysis
AM Altius Minerals (ALS) — Stock Analysis 2026 [4.3] Altius is the connoisseur’s royalty company: a diversified Newfoundland-based book of century-life Saskatchewan potash, Chapada copper, IOC iron ore and US renewable-energy royalties, run for decades by a founder-CEO … Last Update Aug 14, 2026 · 34 min read · CopperBase MetalsCompany Analysis
BE Baytex Energy (BTE) — Stock Analysis 2026 [3.7] Baytex Energy is a Calgary intermediate that spent 2025 doing something rare in oil and gas — shrinking to get stronger. The thesis in one line: after selling its U.S. Eagle Ford business for US$2.2 billion and using the … Last Update Aug 14, 2026 · 41 min read · Oil and GasCompany Analysis
TV Tamarack Valley (TVE) — Stock Analysis 2026 [4.0] Tamarack Valley Energy is a Calgary intermediate that spent the last three years turning itself into a pure-play on two of the highest-return oil plays in Western Canada — the Clearwater heavy-oil fairway and the Charlie … Last Update Aug 14, 2026 · 40 min read · Oil and GasCompany Analysis
LR LunR Royalties (LUNR) — Stock Analysis 2026 [3.7] LunR arrived fully formed in late 2025: a Lundin-family royalty vehicle, spun out of NGEx Minerals and handed a life-of-mine silver stream on one of the best gold mines in the Americas, with two royalties over the … Last Update Aug 14, 2026 · 34 min read · SilverPrecious MetalsCompany Analysis
VR Vox Royalty (VOXR) — Stock Analysis 2026 [3.5] Vox spent 2025 doing what it has done since inception — quietly buying good, overlooked mining royalties at a discount and letting them come to production — and posted record results as they did. The thesis in one line: … Last Update Aug 14, 2026 · 31 min read · GoldPrecious MetalsCompany Analysis
ER Elemental Royalty (ELE) — Stock Analysis 2026 [4.1] Elemental spent 2025 doubling in size twice over: revenue up 128% as its royalties ramped, and a transformational merger with EMX Royalty that turned a small gold royalty into a genuine mid-tier. The thesis in one line: … Last Update Aug 14, 2026 · 30 min read · GoldPrecious MetalsCompany Analysis
DR Deterra Royalties (DRR) — Stock Analysis 2026 [3.7] Deterra spent FY2025 doing what it was built to do: collecting a royalty cheque on one of the world’s best iron-ore mines and paying most of it out to shareholders — while taking its first real step beyond that single … Last Update Aug 14, 2026 · 31 min read · IronBase MetalsCompany Analysis
MR Metalla Royalty (MTA) — Stock Analysis 2026 [3.5] Metalla spent 2025 crossing the line from a promise into a business: record revenue, its first-ever quarter of positive net income, and a portfolio “inflection” as royalties bought years ago began to pay — led by … Last Update Aug 14, 2026 · 34 min read · GoldPrecious MetalsCompany Analysis
GR Gold Royalty (GROY) — Stock Analysis 2026 [3.4] Gold Royalty spent 2025 finally turning a five-year acquisition spree into cash: record revenue, its first genuinely strong operating cash flow, and a debt-free balance sheet, as royalties and streams it had bought years … Last Update Aug 14, 2026 · 36 min read · GoldPrecious MetalsCompany Analysis
CA Cameco (CCJ) — Stock Analysis 2026 [4.3] Cameco is the only Western company that can dig uranium out of the ground, refine it, convert it, fabricate it into fuel and sell you the reactor it goes into. The thesis in one line: a business with the world’s two … Last Update Aug 12, 2026 · 47 min read · UraniumEnergy MetalsCompany Analysis
OR OR Royalties (OR) — Stock Analysis 2026 [4.0] OR Royalties spent 2025 quietly compounding: a “triple crown” of record revenue, cash flow and earnings, a fully repaid credit facility that left it debt-free for the first time in a decade, and a steady stream of … Last Update Aug 12, 2026 · 51 min read · GoldPrecious MetalsCompany Analysis
TF Triple Flag (TFPM) — Stock Analysis 2026 [4.4] Triple Flag Precious Metals is a Toronto-based, asset-light royalty and streaming company that owns 242 gold- and silver-linked interests across nine countries and takes none of the operating or capital-cost risk of … Last Update Aug 12, 2026 · 50 min read · GoldPrecious MetalsCompany Analysis
WP Wheaton Precious Metals (WPM) — Stock Analysis 2026 [4.5] Wheaton Precious Metals is the largest listed precious-metals streaming company by portfolio breadth — 42 long-term agreements across 48 mining assets in 18 countries, anchored by a 75% gold stream on Vale’s giant Salobo … Last Update Sep 9, 2026 · 59 min read · GoldPrecious MetalsCompany Analysis
AG Alamos Gold (AGI) — Stock Analysis 2026 [4.1] Alamos Gold has 15.9 million ounces of reserves booked at an $1,800 gold price, four funded growth projects with published economics, no meaningful debt — and, after a 20% rally off its July lows, a share price back near … Last Update Aug 12, 2026 · 53 min read · GoldPrecious MetalsCompany Analysis
RG Royal Gold (RGLD) — Stock Analysis 2026 [4.2] Royal Gold spent 2025 becoming a different company. With the ~US$4.1 billion all-stock acquisition of Sandstorm Gold and Horizon Copper and a US$1.0 billion gold stream on First Quantum’s Kansanshi mine, it vaulted from … Last Update Aug 12, 2026 · 54 min read · GoldPrecious MetalsCompany Analysis
FR Franco-Nevada (FNV) — Stock Analysis 2026 [4.6] Franco-Nevada is the royalty and streaming sector’s longest-tenured franchise — founded in 1986, IPO’d in 2007, and now holding 430 royalty, stream and other interests (119 producing) spread across precious metals, other … Last Update Aug 12, 2026 · 49 min read · GoldPrecious MetalsCompany Analysis
CM Coeur Mining (CDE) — Stock Analysis 2026 [3.9] Coeur Mining spent 2025 and early 2026 turning itself from a chronically higher-cost, debt-laden silver-gold miner into the thing it always said it wanted to be: a scaled, net-cash, all-North-American precious-metals … Last Update Aug 11, 2026 · 38 min read · GoldPrecious MetalsSilverCompany Analysis
IO Imperial Oil (IMO) — Stock Analysis 2026 [4.1] Imperial Oil is the Canadian arm of ExxonMobil dressed as a standalone stock: a fully integrated oil-sands producer and refiner that turns long-life bitumen into fuel and returns almost every spare dollar to … Last Update Aug 11, 2026 · 41 min read · Oil and GasCompany Analysis
SE Suncor Energy (SU) — Stock Analysis 2026 [4.2] Suncor Energy is Canada’s original oil-sands company and its most fully integrated one — it mines and upgrades bitumen, drills offshore oil, runs four refineries, and sells the fuel through the country’s largest retail … Last Update Aug 11, 2026 · 43 min read · Oil and GasCompany Analysis
FM First Majestic Silver (AG) — Stock Analysis 2026 [2.9] First Majestic Silver is one of the purest large silver bets on the market — a senior producer that still earns most of its money from silver, not gold, at a moment when silver has run to ~$66 an ounce. It runs four … Last Update Aug 11, 2026 · 44 min read · SilverPrecious MetalsGoldCompany Analysis
BG BHP Group (BHP) — Stock Analysis 2026 [4.3] BHP is the largest diversified miner on earth, and the clearest single bet on the two commodities that dig the future: the iron ore that builds and the copper that electrifies. The thesis in one line: a portfolio … Last Update Aug 11, 2026 · 42 min read · IronCopperBase MetalsCompany Analysis
EM Endeavour Mining (EDV) — Stock Analysis 2026 [3.3] Endeavour Mining is the largest gold producer focused entirely on West Africa — about 1.2 million ounces a year from Côte d’Ivoire, Senegal, Burkina Faso and Mali — and it is one of the cheapest gold stocks anywhere: … Last Update Aug 8, 2026 · 30 min read · GoldPrecious MetalsCompany Analysis
EM Evolution Mining (EVN) — Stock Analysis 2026 [4.1] Evolution Mining is one of the lowest-cost gold producers in the world, and the reason is copper: two of its five mines are copper-gold operations whose copper by-product credits push their gold all-in sustaining cost … Last Update Aug 8, 2026 · 37 min read · GoldPrecious MetalsCopperCompany Analysis
PA Pan American Silver (PAAS) — Stock Analysis 2026 [3.3] Pan American Silver is the leading listed silver producer — about 23 million ounces of silver a year — but at today’s prices it is really a silver-and-gold company, earning more revenue from its 740,000 ounces of gold … Last Update Aug 8, 2026 · 41 min read · SilverPrecious MetalsGoldCompany Analysis
KG Kinross Gold (KGC) — Stock Analysis 2026 [3.3] Kinross Gold is a mid-scale senior producer — about 2 million ounces a year from mines in the United States, Brazil, Chile and Mauritania — that has quietly become one of the strongest balance sheets in the sector: net … Last Update Aug 8, 2026 · 40 min read · GoldPrecious MetalsCompany Analysis
GF Gold Fields (GFI) — Stock Analysis 2026 [3.4] Gold Fields is a mid-to-senior gold producer with nine mines on four continents, and it is the cheapest and highest-yielding of the large gold names — about 9.5× trailing earnings, 7.3× forward, and a 3.8% dividend … Last Update Aug 8, 2026 · 40 min read · GoldPrecious MetalsCompany Analysis
BM Barrick Mining (ABX) — Stock Analysis 2026 [3.7] Barrick Mining is the world’s third-largest gold producer and, increasingly, a serious copper company — 85 million ounces of gold reserves and roughly 40 billion pounds of copper, spread from Nevada to Mali to Pakistan. … Last Update Aug 8, 2026 · 44 min read · GoldPrecious MetalsCopperCompany Analysis
NE Newmont (NEM) — Stock Analysis 2026 [4.0] Newmont is the largest gold miner in the world, and after two years of digesting the US$16.8 billion Newcrest takeover it has spent 2025 doing the harder, quieter work: selling six mines, paying down debt, and turning a … Last Update Aug 13, 2026 · 43 min read · GoldPrecious MetalsCompany Analysis
IP International Petroleum (IPCO) — Stock Analysis 2026 [3.9] International Petroleum is a Lundin-family-controlled international oil and gas producer that has spent the last three years quietly building a transformational SAGD project while retiring more than a quarter of its own … Last Update Aug 7, 2026 · 47 min read · Oil and GasCompany Analysis
AC APA Corporation (APA) — Stock Analysis 2026 [3.0] APA Corporation is the international value name of the US large-cap E&P group — the former Apache, remade as a leaner, cash-focused producer spanning the Permian Basin, Egypt’s Western Desert and a North Sea it is … Last Update Aug 7, 2026 · 31 min read · Oil and GasNatural GasCompany Analysis
AE Agnico Eagle (AEM) — Stock Analysis 2026 [4.6] Agnico Eagle is the second-largest gold producer in the world, the largest company on the Toronto Stock Exchange by market value at times in 2026, and — unusually for its size — it keeps roughly three-quarters of its … Last Update Aug 7, 2026 · 48 min read · GoldPrecious MetalsCompany Analysis
PR Permian Resources (PR) — Stock Analysis 2026 [4.1] In under four years Permian Resources turned a 2022 merger of two mid-cap operators into the second-largest pure-play in the Permian Basin and the largest pure-play in the Delaware — roughly 0.39 million barrels of oil … Last Update Aug 7, 2026 · 33 min read · Oil and GasNatural GasCompany Analysis
HM Hecla Mining (HL) — Stock Analysis 2026 [4.2] Hecla Mining is the largest silver producer in the United States and Canada, and — after a year of record cash flow and a balance-sheet clean-up — one of the few precious-metals names that can call its balance sheet the … Last Update Aug 6, 2026 · 31 min read · SilverPrecious MetalsCompany Analysis
GO GoldMining (GLDG) — Stock Analysis 2026 [3.9] GoldMining Inc. is one of the most unusual structures in the gold sector: a debt-free holding company whose market value is almost entirely covered by the cash and listed securities on its balance sheet — meaning the … Last Update Aug 6, 2026 · 37 min read · GoldPrecious MetalsCompany Analysis
NM NexGold Mining (NEXG) — Stock Analysis 2026 [3.8] NexGold Mining is trying to do something only a handful of Canadian juniors manage: turn two studied, permitted gold projects into an operating mid-tier producer without giving the upside away first. The thesis in one … Last Update Aug 6, 2026 · 42 min read · GoldPrecious MetalsCompany Analysis
OC OceanaGold (OGC) — Stock Analysis 2026 [3.6] OceanaGold is a four-mine intermediate that spent the last three years fixing its balance sheet — from US$238 million of net debt at the end of 2021 to US$565 million of net cash today — and has just delivered the best … Last Update Aug 6, 2026 · 38 min read · GoldPrecious MetalsCompany Analysis
AG Aya Gold & Silver (AYA) — Stock Analysis 2026 [3.8] Aya Gold & Silver is the only TSX-listed pure-play silver producer, and in 2025 it tripled production and grew revenue five-fold as the expanded Zgounder mine in Morocco reached steady state — while, alongside it, the … Last Update Aug 6, 2026 · 35 min read · SilverPrecious MetalsCompany Analysis
TE Topaz Energy (TPZ) — Stock Analysis 2026 [4.2] Topaz Energy doesn’t drill a single well, yet in 2025 it collected royalty and processing income on 9 million gross acres of Western Canadian gas and oil land, kept 91 cents of every revenue dollar as free cash flow, and … Last Update Aug 2, 2026 · 50 min read · Natural GasOil and GasCompany Analysis
AO Athabasca Oil (ATH) — Stock Analysis 2026 [4.0] Athabasca Oil is a Calgary-based thermal and light oil producer that has spent the past three years quietly running one of the more disciplined capital-return programs in Canadian energy: a fully diluted share count down … Last Update Jul 31, 2026 · 34 min read · Oil and GasCompany Analysis
BE Birchcliff Energy (BIR) — Stock Analysis 2026 [3.2] Birchcliff Energy is the smallest company in this blog’s gas-producer series and the only one trading at half the discounted value of its own proved reserves. The thesis in one line: a 100%-owned Alberta Montney … Last Update Jul 31, 2026 · 43 min read · Natural GasOil and GasCompany Analysis
MR Matador Resources (MTDR) — Stock Analysis 2026 [3.9] Matador Resources is a Dallas-based, founder-led independent that has spent two decades converting a $270,000 friends-and-family stake into one of the Delaware Basin’s more capital-disciplined mid-cap drillers, with a … Last Update Jul 31, 2026 · 36 min read · Oil and GasNatural GasCompany Analysis
NE NextDecade (NEXT) — Stock Analysis 2026 [3.5] This NextDecade stock analysis covers a company that is not yet a company in the usual sense: it is a 264-million-share claim on a construction site. NextDecade Corporation (NASDAQ: NEXT) is building the five-train, ~30 … Last Update Jul 31, 2026 · 51 min read · Natural GasOil and GasCompany Analysis
SR Strathcona Resources (SCR) — Stock Analysis 2026 [3.9] Strathcona Resources is a Calgary-based, Waterous Energy Fund-controlled heavy oil producer that spent 2025 turning itself into something rare in Canadian energy: a pure-play, long-life thermal and heavy oil company, … Last Update Sep 9, 2026 · 80 min read · Oil and GasNatural GasCompany Analysis
CE Cenovus Energy (CVE) — Stock Analysis 2026 [3.8] Cenovus Energy spent 2025 doing two things at once: buying scale and shedding complexity. The thesis in one line: a US$7.1-billion, mostly-share acquisition of MEG Energy added more than 36.5 million barrels a year of … Last Update Sep 9, 2026 · 73 min read · Oil and GasNatural GasCompany Analysis
UR Uranium Royalty Corp (UROY) — Stock Analysis 2026 [3.9] Six weeks ago, Uranium Royalty Corp was a small, mostly pre-cash-flow uranium royalty company that made almost all of its money trading its own physical uranium stockpile. Then it wasn’t: on 27 July 2026 it closed the … Last Update Sep 8, 2026 · 79 min read · UraniumEnergy MetalsCompany Analysis
CN Canadian Natural Resources (CNQ) — Stock Analysis 2026 [4.5] Canadian Natural Resources is the largest independent oil and gas producer in Canada and one of the few companies anywhere that mines bitumen, drills conventional oil and gas, runs thermal steam projects, and upgrades … Last Update Sep 7, 2026 · 84 min read · Oil and GasNatural GasCompany Analysis
DE Devon Energy (DVN) — Stock Analysis 2026 [4.1] Devon Energy has become one of the largest independents in US shale. Its all-stock merger of equals with Coterra Energy — closed in May 2026 — pairs Devon’s oil-rich, four-basin base with Coterra’s premier Marcellus gas … Last Update Sep 7, 2026 · 73 min read · Oil and GasNatural GasCompany Analysis
DE Diamondback Energy (FANG) — Stock Analysis 2026 [4.2] Diamondback spent two years turning itself into the Permian’s last great consolidator. With the ~US$26 billion Endeavor Energy Resources merger in September 2024 and the ~US$4 billion Double Eagle bolt-on in April 2025, … Last Update Sep 7, 2026 · 69 min read · Oil and GasNatural GasCompany Analysis
ER EOG Resources (EOG) — Stock Analysis 2026 [4.7] For a quarter of a century EOG Resources has been the company other US shale operators are measured against — the disciplined, low-cost, technically-driven independent that pioneered the “premium” drilling hurdle and … Last Update Sep 7, 2026 · 68 min read · Oil and GasNatural GasCompany Analysis
OP Occidental Petroleum (OXY) — Stock Analysis 2026 [3.7] Occidental spent 2025 and the first half of 2026 doing the one thing the market had waited six years to see: cutting the Anadarko-era debt down to size. The US$9.7 billion sale of OxyChem to Berkshire Hathaway (closed 2 … Last Update Sep 9, 2026 · 83 min read · Oil and GasNatural GasCompany Analysis
OV Ovintiv (OVV) — Stock Analysis 2026 [3.6] Ovintiv spent two years reshaping itself from a sprawling, four-basin generalist into a focused, two-play North American oil producer. It bought oil-rich Montney acreage in Alberta from Paramount Resources and NuVista … Last Update Sep 7, 2026 · 66 min read · Oil and GasNatural GasCompany Analysis
AM Aris Mining (ARIS) — Stock Analysis 2026 [3.9] Aris Mining runs two of the highest-grade underground gold mines in the Americas — Segovia’s reserves average 10.70 g/t, five times a typical open-pit senior’s grade — while assembling two of South America’s largest … Last Update Sep 7, 2026 · 77 min read · GoldPrecious MetalsCompany Analysis
AR Antero Resources (AR) — Stock Analysis 2026 [3.7] Antero Resources sells the richest barrel-equivalent in Appalachia and pays the highest toll to get it to market. In FY2025 it realised US$3.99 per thousand cubic feet equivalent — 45% more than its nearest dry-gas … Last Update Sep 6, 2026 · 81 min read · Natural GasOil and GasCompany Analysis
CR CNX Resources (CNX) — Stock Analysis 2026 [3.7] CNX Resources is the quiet, unfashionable end of Appalachian gas: no dividend, 390 employees, almost no liquids, and a business built on owning four million acres of Pennsylvania, West Virginia, Ohio and Virginia … Last Update Sep 6, 2026 · 79 min read · Natural GasOil and GasCompany Analysis
RR Range Resources (RRC) — Stock Analysis 2026 [4.5] Range Resources owns twenty-two years of reserves and is in no hurry to produce them. That single fact explains almost everything: why its free-cash-flow yield screens as the thinnest in the basin, why management holds … Last Update Sep 9, 2026 · 74 min read · Natural GasOil and GasCompany Analysis
EE Expand Energy (EXE) — Stock Analysis 2026 [4.2] Expand Energy is the largest independent natural gas producer in the United States, and it is the company in this series where the valuation asks the reader to believe something specific and checkable: that Henry Hub … Last Update Sep 6, 2026 · 71 min read · Natural GasOil and GasCompany Analysis
NS Northern Star (NST) — Stock Analysis 2026 [3.6] Northern Star is Australia’s largest gold miner, it owns the biggest gold mine in the country, and it has just spent three years and A$1.6 billion rebuilding that mine’s processing plant while missing its own guidance … Last Update Sep 2, 2026 · 82 min read · GoldPrecious MetalsCompany Analysis
