Bull market or bear market? Not all that glitters is gold! Evotec, TeamViewer, and Lahontan Gold under review

Lahontan Gold expands drilling activities in Nevada and strengthens financing

CEO Kimberly Ann is currently looking at Lahontan Gold's share price performance with great satisfaction, as the stock has gained over 150% in just three months. The Canadian gold explorer is working to bring a historically significant deposit in the US state of Nevada back into production. Nevada is one of the most productive gold regions in the world. It has produced more than 225 million ounces of gold to date, which means that projects in this mining district traditionally attract a great deal of attention from investors. Lahontan's focus is on the Santa Fe project within the mineral-rich Walker Lane trend, an approximately 800-km-long geological corridor that has already produced numerous significant precious metal deposits. Between 1988 and 1995, gold and silver were mined from open pits using heap leach processing at the approximately 28.3 km² project, producing over 359,000 ounces of gold and approximately 702,000 ounces of silver.

The current resource estimate indicates approximately 1.54 million ounces of gold equivalent in the "indicated" category and a further approximately 411,000 ounces in the "inferred" category, giving Santa Fe a solid foundation for a possible resumption of mining. An update of this resource is expected soon and could grow further through additional drilling and expansions of the claim package. At the same time, the West Santa Fe satellite area is emerging as an important growth driver, as drilling there has identified near-surface mineralized sections with economically attractive grades. The mineralization occurs in part near surface and consists largely of oxidized material, which favors low-cost open-pit mining methods and potentially low production costs. To systematically test the property's potential, the company recently mobilized a second reverse circulation drill rig to the project to explore zones that have been little investigated to date, complementing the existing diamond drilling. With the approval of an expanded exploration plan, this opens up opportunities for hundreds of additional drill holes within the district.

Operational development is also supported by a strategic strengthening of the company's management team with Antony Rowe and Miranda Werstiuk, experienced industry experts with many years of background in mining and capital markets. This step reflects the company's transition from a pure explorer to a project developer with clear production prospects. According to the company's plans, Santa Fe could resume gold and silver production by the end of the decade, provided that permitting and development work proceed as scheduled. Lahontan is also pushing ahead with its growth strategy on the financial side and plans to raise up to approximately CAD 10 million at a placement price of CAD 0.41. If everything goes to plan, investors will see a great open-pit mine start up here in the next 5 to 7 years, or a large mining company will strike a deal. The current market capitalization is just CAD 173 million, meaning there is significant potential for a re-rating of the share price on all fronts.

IIF presenter Lyndsay Malchuck takes a closer look at the investment highlight Lahontan Gold and interviews CEO and founder Kimberly Ann.

https://youtu.be/pRq4WtH82Rc

Evotec – Restructuring, part two

But the sun does not shine as brightly everywhere as it does in Nevada. Earlier this week, it was reported that Hamburg-based drug discovery company Evotec is planning to cut up to 800 of its 4,500 jobs. The Hamburger Abendblatt newspaper had previously reported on the details of the cuts. At the end of 2024, 400 jobs had already been cut across the group in a first wave. The number of locations is also to be reduced from 14 to 10 over the next two years, which in Germany means leaving the costly city of Munich. Weak demand in the field of preclinical research has repeatedly weighed on the struggling pharmaceutical drug developer Evotec. The announced steps are a logical consequence of years of weak operating performance. Evotec plans to present its annual report for 2025 on April 8. Deutsche Bank analysts reaffirmed their "Hold" recommendation with a price target of EUR 6, expecting a much more robust and focused business model once the current transformation steps have been completed. Five out of nine experts on the LSEG platform expect an average 12-month price of EUR 7.5, a 75% potential from the new 10-year low of EUR 4.28. Initial purchases should pay off in the long term!

TeamViewer – A favorite among short sellers

TeamViewer shares also hit a new all-time low of EUR 4.30 this week. The stock has now become a plaything for short sellers. Around 10.18% of the share capital is now recorded as short positions, with AQR Capital Management being the largest short seller at 4.22%, having recently increased its position continuously. In second place is Qube Research & Technologies with 2.34%, which has also seen a steady increase. New to the list is Connor Clark & Lunn Investment Management with around 1%. Although the well-known IT company is not currently hugely successful in economic terms, it was able to achieve its 2025 annual targets. Annual revenue improved by 5% to EUR 767 million after currency adjustments, but the adjusted EBITDA margin was only at the lower end of the forecast at 44%. The group is somewhat more cautious for the current fiscal year. Revenue growth is expected to stagnate at 0 to 3%, and the operating EBITDA margin could reach 43%.

Enhanced integration between TeamViewer Tensor and Microsoft Intune has now been announced. By maintaining the complete operational context and eliminating the need to switch tools, the integration enables IT problems to be solved more efficiently. New features include automatic synchronization of device data between both platforms, unattended remote access for Windows, macOS, and Android, and enhanced remote connectivity. Operationally, these are incremental improvements; one can only hope that the measures will finally take effect. The share price is currently only 20 cents above its all-time low, but analysts on the LSEG platform expect it to double to EUR 9.60 on average. With a market capitalization of only EUR 712 million, a buyer could soon make itself felt, which would mean short sellers would have to cover their positions. In our opinion, a small, speculative position makes sense!

The stock market is currently taking no prisoners. In the case of Evotec, the poor operating performance since 2024 is taking its toll on the share price. Short sellers have been having a field day with TeamViewer for some time now. Here, too, there are some problems with the latest acquisitions. Lahontan Gold, on the other hand, is spreading sunshine, as promising gold discoveries have been reported at the West Santa Fe project site. The stock is jubilant and has now more than doubled in three months.