Nordex shares unstoppable! Sell Hensoldt? Gold gem Kobo Resources with takeover speculation!

Kobo Resources: CEO raises possibility of takeover

Is the consolidation at Kobo Resources already over? After a strong year-end rally, there are many reasons to believe that the gold explorer's share price could continue to advance. Gold prices are once again trending higher, and CEO Edward Gosselin considers the Company's valuation to be attractive relative to its project potential. Kobo is increasingly emerging as one of the more closely watched gold exploration stories in Côte d'Ivoire. In an interview with IIF moderator Lyndsay Malchuk, Gosselin emphasized the Company's disciplined approach, strong local roots, and steadily expanding project pipeline.

One visible element of this community strategy is the "Kobo Cup," a soccer tournament that has already entered its second round. The Company provided jerseys and equipment, a local partner supported with shoes, and high-ranking representatives, such as the Canadian ambassador and local authorities, were also present. Beyond brand visibility, the initiative reflects Kobo's broader philosophy: community engagement and local acceptance are essential for advancing exploration programs predictably and sustainably.

Operationally, the focus remains on the flagship Kossou Gold project. Since September, Kobo has been conducting a drilling program originally planned at 10,000 to 15,000 meters, with more than 10,000 meters completed by the end of 2025. According to management, results to date support an expansion of the mineralized envelope. In addition to known structures such as the Jagger Zone and Road Cut Zone, new targets are emerging to the west and south/southeast. Work on the resource model is progressing in parallel. Given the encouraging results, Kobo intends to include additional drilling data, pushing the expected resource update into the second half of 2026.

Additional opportunities are provided by a third zone ("Katy"), which came to the fore due to local, partly illegal mining activities and is now being prepared for drilling. The longer-term objective is to connect multiple zones and significantly increase strike length. Beyond Kossou, Kobo plans to drill the much larger Kotobi project for the first time in 2026, with four high-priority targets already defined. Through earn-in agreements and new licenses, the Company aims to expand its Côte d'Ivoire portfolio to nearly eight projects. Finally, Gosselin did not rule out takeover interest. A project located just 9 km from an existing gold mine with declining production could become strategically attractive - particularly in a rising gold price environment.

Nordex shares continue strong upward momentum

Nordex shares are simply unstoppable. Yesterday, the stock broke through the EUR 30 mark and briefly traded above EUR 32. As a result, the shares have gained almost 170% in value over the past 52 weeks and are now worth EUR 7.58 billion on the stock market. Investors recently reacted to Nordex's reports of positive year-end business. In Germany, wind and solar park developer UKA ordered 33 N175/6.X turbines with a total capacity of 224.4 MW in December. The order is part of an existing framework agreement and also includes a 20-year premium service for maintenance. The turbines will be distributed across nine wind farms in several federal states, including Brandenburg, Thuringia, and North Rhine-Westphalia. Depending on the project, construction and commissioning are scheduled to begin in 2027. Hybrid towers with a hub height of 179 meters will be used, with the aim of optimizing yields at the respective locations.

Just one day earlier, Nordex had already announced follow-up orders for a total of 73 turbines from Canada. The total output of the N163 and N175/6.X turbines is 508 MW. This marks Nordex's successful entry into the Canadian market with the N175 model. Delivery and installation are planned for 2027 and 2028. The turbines will be equipped with the "Advanced Anti-Icing System" for rotor blades as a cold climate variant in order to maintain high availability during the winter months and reduce ice-related downtime. As in Germany, long-term service agreements are also part of the contracts.

Reflecting the strong order momentum, mwb research reaffirmed its "Buy" recommendation on Monday and raised its price target from EUR 33 to EUR 36.

Sell Hensoldt shares?

mwb research analysts are less optimistic about Hensoldt. Yesterday, they downgraded the shares of the German specialist in military sensor technology from "Hold" to "Sell." The price target remains at EUR 65. After a price jump of over 13% within five trading days, the share is currently trading above EUR 82. From the analysts' point of view, the recent price increase is primarily sector-driven and less attributable to company-specific news. Hensoldt has hardly any direct links to Venezuela and only a limited indirect connection to geopolitical headlines, which recently supported sentiment for defense stocks. mwb sees the significant rise in the share price as the result of positioning and momentum rather than a fundamentally justified revaluation.

mwb justifies its negative stance primarily with what it sees as an underestimated cycle risk and an increasingly challenging competitive and valuation environment. Although the tailwind from higher defense spending remains in place, the current "order wave" could naturally come to an end. mwb expects sales to peak in the early 2030s, which will make the debate about follow-up orders and visibility after 2030 more important. At the same time, pressure from competitors is increasing, particularly as major players expand their activities in sensor technology and software-defined defense – precisely those areas that are Hensoldt's core business and are considered growth drivers. All in all, mwb considers the stock to be overvalued at current multiples and the risk/return outlook to be asymmetrical to the detriment of investors.

Gold appears to have overcome its weak phase and is marching back toward USD 4,500 per troy ounce. Mining stocks are benefiting from this. Kobo Resources remains an attractive gold explorer. The Company combines sustainable development with takeover speculation. Nordex has made a strong start to the new year. The order book continues to fill up, but with a market capitalization of over EUR 7.58 billion, the Company is no longer a bargain. The same applies to Hensoldt. Sales growth is simply not fast enough to justify the market capitalization of EUR 9.5 billion.