April 7th, 2025 | 07:20 CEST
Porr AG, Globex Mining, Strategy – Exaggerated panic
After the euphoria came the sobering reality. Following the stock market rally since November, sparked by the re-election of Donald Trump as the new US president, we are now witnessing a direct destruction of capital. Since the Republican's inauguration, the US market has officially lost USD 10 trillion. It remains to be seen to what extent the strategy of punitive tariffs, the opening of trade disputes, and the disruption of supply chains will continue to shake the markets. In particular, companies that serve markets outside the US and can produce their raw materials domestically are likely to benefit the most.
time to read: 4 minutes
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Author:
Stefan Feulner
ISIN:
PORR AG | AT0000609607 , GLOBEX MINING ENTPRS INC. | CA3799005093 , MICROSTRATEG.A NEW DL-001 | US5949724083
Table of contents:
"[...] We quickly learned that the tailings are high-grade, often as high as 20 grams of gold per tonne; because they are produced by artisanal miners, local miners who use outdated technology for gold production. [...]" Ryan Jackson, CEO, Newlox Gold Ventures Corp.
Author
Stefan Feulner
The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
He is passionate about analyzing a wide variety of business models and investigating new trends.
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Porr AG – Unjustified sell-off
The panic on the stock markets, triggered by the announcement of the US punitive tariffs, sent investors into fear and panic in the second half of the week. Companies across the board lost double-digit market value regardless of whether they were affected by the tariffs or not, as in the case of the Austrian construction group Porr AG. As the Company announced at the MKK – Munich Capital Market Conference, 45.8% of the projects are in the domestic market of Austria, 23.2% in Germany, 14.3% in Poland and 7.4% in emerging Romania, the country that made the biggest leap in terms of growth last year. The remaining percentage points are shared by the Czech Republic and Slovenia.
The Viennese company, which operates as a "one-stop shop" and has an annual turnover of EUR 6.2 billion, recorded an EBIT margin of 2.6% last year, which is expected to rise to 2.8% in the coming year and up to 4.0% by 2030. Porr's order backlog currently stands at EUR 8.5 billion,** which does not yet take into account the German government's infrastructure program worth EUR 500 billion. This is likely to be reflected in the already bulging order books in 2026. The specialist construction company, the second largest in the Alpine country after STRABAG, is expected to get a piece of the action, given that around 14,000 bridges in Germany are currently considered dilapidated - a medium-sized bridge costs around EUR 100 million, according to industry experts.
In their latest study, the analysts at Berenberg set a target price of EUR 37.50 with a "Buy" recommendation. The experts estimate earnings per share of EUR 3.21 for 2026.
Globex Mining – All in one basket
The trade war between the US and the rest of the world threatens to escalate. In response to US President Trump's tariffs on imports from China, Beijing responded with counter-tariffs, particularly on fossil fuels and selected raw materials. This puts global supply chains under pressure and leads to significantly higher prices due to the shortage of supply. Profiteers of this chess game are undoubtedly companies like Globex Mining, which could supply the home markets with the necessary materials.
Over the last three decades, Globex, originally listed on the Montreal Stock Exchange in January 1988 and moved to the TSX in 1995, has built one of the largest and most diversified portfolios of mineral rights in North America, with 255 projects. Valued at CAD 70.13 million, CEO Jack Stoch manages not only 128 precious metal projects but also properties with base metals, rare earths, industrial minerals, and specialty metals.
Globex generates cash flow from 106 companies through licensing agreements with project partners who make regular royalty payments. The Company also holds liquid assets and marketable securities worth over CAD 25 million.
As recently as mid-March, the purchase of three gold royalties from IAMGOLD Corp. was announced. Each is a 1% net smelter royalty on the Porcupine West, Eldrich, and Rouyn-Merger gold mines in Quebec, all of which are 100% owned by Globex. All three properties have significant historical intersections of gold mineralization. The purchase price is approximately USD 350,000.
The Globex share has lost significant value in recent days following a strong rally driven by rising precious metals prices. It is currently trading at CAD 1.25. Due to the panic on global stock markets, this may present a renewed buying opportunity, with the 200-day moving average providing support at CAD 1.21.
Strategy – Buy signal during panic mode
While the markets suffered across the board, with oil and energy stocks in particular losing double digits, crypto stocks saw a turnaround in late trading on Friday. Among the coins, XRP and Solana in particular, but also Bitcoin, started a reversal and ended Friday's trading well in the black. The primary winner among crypto stocks was once again the Bitcoin hodler Strategy, which turned around after hitting a daily low of USD 265.30 and ended the day with a gain of over 4% at USD 293.61.
If the cryptos start the week on a friendly note, Strategy could break the downward trend that has been in place since the end of November at around USD 321 and generate a fresh buy signal that could even impulsively push the stock above the USD 400 mark.
According to company founder Michael Saylor, Bitcoin is set to multiply in value in the near future. Despite the turmoil caused by Trump's announcement that he would impose punitive tariffs, Strategy added another 22,048 Bitcoin to its portfolio for USD 1.92 billion at an average price of USD 86,969 per unit. In total, the Company now holds around 528,000 Bitcoins, which were purchased for USD 35.63 billion at an average price of USD 67,458 per Bitcoin.
Donald Trump is shaking up the stock market, sending even companies unaffected by the punitive tariffs into a downward spiral. The construction group Porr has zero projects in the US and is trading at a price-to-earnings ratio of 7. Strategy was bought out on Friday and is defying the sharp correction. Globex Mining owns promising properties that are likely to significantly exceed the Company's intrinsic value.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.
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