Palantir, First Nordic Metals, Barrick Gold – WATCH OUT: These stocks are on the move!

Palantir – Growth drives the share price to record levels

Palantir Technologies is cementing its position as a key player in the AI and data analysis market. Since the beginning of 2025, the share price has risen by over 50%, having already gained 390% in 2024. Drivers are solid fundamentals, with Q4 revenue up 36% to USD 828 million, driven by the AIP AI platform that helps companies automate complex processes. The US market has become a growth engine – commercial customers increased their spending by 63% and government orders rose by 45%. Revenue of USD 3.75 billion is expected in 2025, accompanied by a free cash flow of over USD 1 billion. The mix of government contracts and corporate customers provides stability, but the valuation raises questions.

Palantir's AI expertise makes the Company a major beneficiary of the global tech race. The AIP platform, which integrates AI seamlessly into business processes, is driving demand. The number of US customers quadrupled in three years. In addition, the collaboration with Grok, an AI chatbot from Elon Musk's xAI, strengthens the Company's technological leadership. However, dependence on the domestic market is a risk: 55% of revenue comes from the US government segment, while Europe is lagging with only 4% growth. Competition from cheaper providers such as DeepSeek could also slow down the expansion. The challenge: expanding into international markets without jeopardizing margins.

Despite its successes, Palantir faces a dilemma: the price-to-sales ratio of 93 and a price-to-earnings ratio (P/E) of over 600 reflect extreme expectations. Analysts doubt that the 30% annual growth rate can be sustained for a decade – even in optimistic scenarios, the valuation in 2030 would remain at a P/E ratio of 74. In addition, there are insider sales by executives and reduced institutional support, for example, from Cathie Wood's ARK-ETF. In the short term, euphoria could continue to drive the price, but in the long term, a correction is looming. The stock is trading at USD 119.16.

First Nordic Metals – High exploration pace

First Nordic Metals (FNM) is strengthening its role as a key player in Europe's mining sector. The Nordic region, known for stable conditions and low electricity costs, offers ideal conditions. The Company recently announced the results of soil geochemical sampling from the Storjuktan project. Four new large-scale gold pathfinder anomalies were identified. This brings the total to five target areas, including the 5 km "Nippas" zone discovered in 2023, although only half of the property has been examined. A base-of-till drilling program is already underway at Nippas, and a further drilling program is to be designed based on the more than 21,000 samples collected.

In early February, the Company also launched a cost-effective base-of-till drilling campaign at the Harpsund and Brokojan target areas of the Paubäcken project. This method allows the analysis of the underlying bedrock with minimal environmental impact. A total of up to 180 drill holes are to be drilled. The program will test a 5.5 km anomaly in gold, arsenic, copper, and zinc that extends near the already active Svartliden mine. Positive results could set the stage for diamond drilling in the second half of the year. Until then, the Paubäcken property is to be systematically explored and mapped.

Also on the Paubäcken property is the "Aida" priority target, where diamond drilling has been ongoing since February 10. An initial 5,150 meters is planned to test a 3-km mineralized zone that returned 22.5 meters at 2.4 g/t gold in 2021. Its proximity to the Svartliden processing plant, which is currently processing ore from the new Fäbodtjärn mine, highlights the synergistic potential. Besides Paubäcken, there are 5 other projects, 2 of which are located in Finland. The most interesting is the Barsele project, which is operated in partnership with Agnico Eagle (55%) and has a promising mineral resource estimate. The stock has gained over 55% since the beginning of the year and is currently trading at CAD 0.57.

Barrick Gold – Between resilience and risk

Barrick Gold presented strong results for the fourth quarter: Revenue increased by 19% to USD 3.65 billion, while earnings per share climbed to USD 0.46, exceeding expectations. Higher prices for gold (USD 2,657/ounce) and copper (USD 4.15/pound) pushed margins upward. The Company bought back its own shares for USD 354 million in the last quarter – a total of USD 498 million for the year – and kept the dividend stable at USD 0.10 per share. Free cash flow doubled to USD 1.32 billion, supported by efficiency gains in Nevada and record production at Lumwana.

Political tensions in Mali weigh on the forecast: the temporary closure of the Loulo-Gounkoto mine, which contributes around 10% of total production, pushes the 2025 gold forecast down to 3.15-3.5 million ounces. Negotiations over USD 197 million in back payments and seized gold are proving difficult. Nevertheless, other sites are shining: Pueblo Viejo is increasing capacity to 800,000 ounces/year, and Lumwana is driving copper production. CEO Mark Bristow emphasizes diversification: "Mali is not a systemic risk – our portfolio remains resilient."

Barrick is considering moving its headquarters to the US in order to expand its investor base and to examine its inclusion in the S&P 500. The Company is also focusing on large-scale projects: Reko Diq is expected to deliver 130,000 tons of copper and 150,000 ounces of gold annually from 2028, while Fourmile in Nevada could increase production by 340,000 ounces from 2029. Despite short-term geopolitical risks, the long-term outlook remains intact. Reserves rose by 16%, and patient investors can see the current P/E ratio of under 10 as an entry opportunity. The stock is currently trading at USD 17.94.

Palantir impresses with strong AI-supported growth, although the high P/E ratio is now causing skepticism. First Nordic Metals focuses on exploration projects in the Scandinavian gold sector and is currently running drilling programs. So there will be news here soon. Barrick Gold shows stable revenue, but has to manage geopolitical risks in Mali. The three companies each represent different approaches: Palantir dominates with innovation, First Nordic Metals has enormous discovery potential, and Barrick Gold scores with experience and market stability.