New opportunities in GOLD and defense! Are Steyr Motors and AJN Resources better than RENK? Profit-taking at First Majestic?

AJN Resources: Opportunity for several million ounces of gold

Investors who have so far missed the rally in gold stocks or want to reallocate from a well-performing stock should take a closer look at AJN Resources. The share of this Canadian exploration company with German management has yet to break out of its sideways trend.

That could soon change: AJN has announced the start of field work at its Okote Gold project in Ethiopia, located just 100 km from the 4.5 million ounce Lega Dembi mine, the country's largest gold project. After lengthy political delays, all necessary permits have now been granted, and the geological team is active on site. Already, 600 samples from newly developed trenches and artisanal gold mining sites have been sent to ALS Global for analysis. Meanwhile, historical drill cores stored in Addis Ababa are being reevaluated to optimize the planning of an upcoming 1,500-meter diamond drilling program.

CEO Klaus Eckhof, well known for his previous successes with projects in Africa, is optimistic: "We are delighted to finally be active on site. The initial results from the samples will be decisive in determining whether to continue drilling the promising structures in the eastern part of the area." The geological structures are reminiscent of the mineralized shear and quartz vein systems that have already produced significant deposits elsewhere. Previous drilling by (Godu General Trading S.C.) in 2019 yielded sections of up to 13 m at 8.71 g/t gold. Eckhof believes the project holds potential for several million ounces of gold. If indications of large-scale mineralization are confirmed, Okote could become one of the most exciting exploration projects in East Africa. Then, the shares of AJN Resources are likely to bring investors a lot of joy.

Steyr Motors: Share price tripling soon to be digested?

The share price of Steyr Motors has been moving sideways for several months. Despite solid business figures and numerous company announcements, there has been no sustained rise in the share price so far. Yet the Austrian diesel engine specialist has a lot to offer in terms of operations: In the first half of 2025, the Company reported a record order backlog exceeding EUR 300 million and reaffirmed its ambitious forecast of 40% sales growth with an EBIT margin of over 20%. According to analyst estimates, earnings per share are also expected to increase significantly in 2025.

Several strategic partnerships have recently attracted attention. In March, Steyr Motors signed a development and supply agreement with Rheinmetall Landsysteme, followed in June by a framework agreement with Laborde Products for the US market. At the same time, the collaboration with Dutch vehicle manufacturer Defenture was expanded, with additional orders that are likely to increase the order backlog further. In addition to the military segment, the Company is also strengthening its foothold in the maritime sector, where new supply contracts worth over EUR 20 million were recently announced. The Austrians are also making progress in Asia. Not only was a regional office opened in Beijing, but initial orders were also secured. In addition, the Company recently achieved C2 emissions certification in China – an important milestone that has additional order potential of at least EUR 100 million.

It is worth noting that, despite the ongoing sideways movement, Steyr shares have already gained over 200% in the current year. A period of consolidation is therefore perfectly healthy and represents an opportunity for patient investors.

RENK, Barrick, and First Majestic: Time to take profits?

And who are the big winners in defense and precious metals this year? Of course, the core investments RENK, Barrick Mining, and First Majestic Silver stand out. All three stocks have already delivered strong performances in 2025. At the end of August, the transmission specialist ended its consolidation and gained another 50%. For the year as a whole, the share price has risen by around 380%. Barrick Mining has emerged from a long period of underperformance, with the share price more than doubling this year. Following spectacular drilling results in the US, September saw the most significant jump in the share price in many years. First Majestic Silver shares have also more than doubled in 2025. At almost USD 13, the silver basic investment is trading at its highest level since 2022.

RENK in particular stands out with disproportionately strong price gains. Investors who have earned high returns on RENK, Barrick, or First Majestic may want to consider taking partial profits or hedging their positions. At the same time, it is worth noting that the underlying fundamentals—order backlog, production increases, and price trends—remain intact.

The AJN Resources share could soon break out—especially once the first positive drill results are released. Steyr may also reward a bit of patience. For both stocks, price increases could come faster than expected. RENK, Barrick Mining, and First Majestic Silver remain core investments in their respective sectors, although taking partial profits along the way certainly would not hurt.