Hensoldt disappoints! Puma collapses! And what is Silver North's share price doing?

Silver North Resources: Insider tip ahead of exciting months

So far this year, silver has outperformed gold with a performance of around 40%. The chances are good that this upward trend will continue.

This is because the precious metal is also an industrial metal. Demand is being driven by the boom in photovoltaics, electronics, AI, and renewable energies.

Another insider tip among silver stocks is Silver North Resources. The Canadian company has two projects in the famous Yukon region. The Tim project is located in the vicinity of Watson Lake and Coeur Mining's Silvertip mine. The property has good infrastructure and shows anomalous silver-lead-zinc values. Last year, Coeur Mining, as a partner, carried out an initial drilling program. The results have not yet been published.

The Haldane property is considered promising and borders the Hecla Mining area. The first 27 drill holes showed very high silver grades of over 300 grams per tonne in some cases. In order to expand the area and collect further data, the Company plans to start another drilling program in Haldane in August. The 10 drill holes, with a length of around 2,500 meters, are intended to expand the Keno-style silver-lead-zinc mineralization at the newly identified Main Fault target. At least three high-grade silver veins have already been identified there.

Silver North CEO Jason Weber commented: "With high-grade silver intersections of 1.83 meters averaging 1,088 g/t silver and 3.90 g/t gold, as well as broader intersections of silver mineralization, such as 5.81 meters averaging 365 g/t silver and 0.23 g/t gold, the Main Fault has become the most promising of our five drill targets."

Following the successful placement of a capital increase at the end of last week, the share price is now likely to resume its upward trend.

Hensoldt: Half-year figures disappoint – what now?

While investors are looking forward to positive news flow at Silver North Resources, there was some disappointment at Hensoldt. The half-year figures did not bring the hoped-for new impetus for the share.

The defense boom and supercycle have not yet really arrived at Hensoldt. Sales revenues at the radar specialist rose from EUR 849 million to EUR 944 million in the first half of 2025. The Company pointed to strong performance in its Optronics division, which helped offset the expected weaker start in the sensors segment.

Adjusted EBITDA rose slightly from EUR 103 million to EUR 107 million. The adjusted EBITDA margin fell slightly from 12.2% to 11.3%. This was due to temporarily lower productivity in the Sensors segment as a result of the start-up phase of the new logistics center.

At EUR 1.405 billion, order intake, which is so important, was also somewhat disappointing. At EUR 1.359 billion, it was slightly lower than in the previous year. Hensoldt CEO Oliver Dörre nevertheless remains optimistic about the future: "The current security situation makes it clear every day how important it is for Germany and Europe to invest more in their own security. We now expect this political will to be increasingly reflected in concrete orders – and to arrive in our production halls in very real terms. Our renewed increase in order intake highlights this development and also demonstrates that we have the right solutions to enable our customers to meet the security requirements of the future. But it also contains a clear mandate: we will do everything in our power to deliver quickly, reliably, and with the highest quality. Because true defense capability comes from the consistent expansion of industrial capacity and innovative strength." The order backlog is at a record level of EUR 7.07 billion (previous year: EUR 6.55 billion). Orders in the previously weak Sensors segment are also contributing to this. There, the Company is benefiting from contract extensions for Eurofighter Mk1 radars. The annual forecast was confirmed.

Puma: Insider buying raises hopes

Puma shares are not for the faint-hearted. Following the strong profit warning, the share price slumped from over EUR 24 in recent days to EUR 17.82 yesterday.

There is currently no sign of a counter-movement. Arthur Höld sees a buying opportunity at present. According to yesterday's insider report, the Puma Executive Board has purchased shares worth around EUR 100,000. The average purchase price was EUR 19.05.

Analyst opinions vary widely. The experts at Baader have changed their recommendation from "Add" to "Reduce." The price target has been adjusted from EUR 25 to EUR 18. From the analysts' point of view, there is a lack of positive prospects. After the restart in the current year, 2026 is likely to be a transition year.

Berenberg is more optimistic. Its analysts believe that rapid change is possible in the sporting goods sector. Puma's archrival Adidas recently achieved this feat, after poaching Puma's new CEO. Berenberg, therefore, continues to recommend buying Puma shares and sees their fair value at EUR 40.

Insider tip Silver North Resources is facing an exciting summer. The capital increase was successfully placed, and the share price can continue its upward trend. Hensoldt, on the other hand, lacks momentum. Despite a strong order backlog, this has yet to translate into significant revenue and profit growth. The stock has already priced in some of these challenges. At Puma, there is no rebound in sight yet. Whether the Company can turn things around as quickly as Adidas is a bet with many unknowns.