Lahontan Gold: Outperformer in 2026?
The gold sector is clearly the focus of bargain hunters right now. The fact that the gold price has corrected so sharply amid the current geopolitical crisis certainly came as a surprise to some. After all, the precious metal is generally considered a safe haven in times of crisis. But on the one hand, the gold price had risen rapidly in the preceding months, and on the other, the market had anticipated further falling interest rates. Therefore, the current correction is entirely understandable and also healthy. The gold price is currently stabilizing around USD 4,500 per ounce. This offers investors an attractive buying opportunity in gold stocks.
When gold explorers become gold producers, significant opportunities arise for investors. Either through a takeover by a major producer or through their own production. Lahontan Gold is currently in this phase. Without much fanfare, the company has built up a resource of over 2 million ounces in the US in recent years. The final construction permit for the first mine is expected by the end of 2026 or, at the latest, in the first quarter of 2027. By then, Lahontan’s stock should rise to a completely different level. It is currently trading at EUR 0.21 and was already at EUR 0.30 just a few weeks ago.
Lahontan Gold is positioning itself as an exciting gold and silver explorer in the US precious metals hotspot. In the Walker Lane Belt in the US state of Nevada, the company is implementing a comparatively simple business model. It focuses on former production sites suitable for low-cost open-pit mining. Lahontan founder and CEO Kimberly Ann has already noted that the company has identified massive oxide gold and silver zones at its flagship Santa Fe project, which will likely soon significantly increase the official resource of approximately 2 million ounces. The West Santa Fe area, which was originally acquired as a satellite deposit, is proving to be significantly more valuable than initially assumed.
Numerous milestones are on the horizon for the current year. In addition to ongoing permitting processes, several drilling rigs are advancing exploration. Concurrently, metallurgical studies and a preliminary economic assessment (PEA) are set to follow. Overall, Lahontan Gold finds itself at a decisive turning point. With two projects that could potentially return to production and a series of catalysts, the company aims to create value for shareholders. This argues in favor of buying the stock.
https://youtu.be/pRq4WtH82Rc?si=4VEEF_4CVRncayiQ
TKMS: Over 50% Upside Potential?
German defense stocks have not been among investors’ favorites in recent weeks. Similar to gold, the sector should actually be benefiting from the war in Iran. So far, it has not. TKMS has lost nearly 25% of its value over the past four weeks. Does this present a buying opportunity, as with Lahontan Gold?
“Yes,” says mwb research. While the analysts view the decline in land-focused peers as understandable, they consider applying the same logic to TKMS’s significantly different business model to be inappropriate. The analysts see the naval specialist as one of the few European defense stocks with genuine long-term visibility. The order backlog already stands at around EUR 18.6 billion and could increase significantly again, for example, through major submarine orders. According to the analysts, the visibility of the naval programs extends in some cases into the 2040s. They also expect margin improvement as older contracts with lower margins are completed. The EBITDA margin is projected to rise from 8.7% in 2025 to 13% by 2029. Earnings per share are expected to climb from EUR 1.65 to EUR 3.29 during this period. The stock is currently trading at EUR 72.10. The target price set by mwb analysts is EUR 125. If the stock reaches this level, the P/E ratio for 2029 would be 38. However, given the complexity of the business model, this appears ambitious.
Kontron: Recovery After a Shock
Kontron’s stock has also taken a significant hit recently. In March, it fell from nearly EUR 23 to EUR 17.44. At the start of last week, the stock plummeted by over 10%. The reasons were weak 2025 figures and a surprisingly conservative outlook from the technology company. Over the past two days, however, Kontron shares have recovered to over EUR 19. Is this the start of a sustained recovery?
Analysts see significant upside potential. Warburg Research believes Kontron remains on the right track in the medium to long term. In contrast, the company’s valuation is low. Analysts estimate the fair value of Kontron shares at EUR 30 and recommend them as a “Buy”.
mwb research even believes the stock could reach EUR 34. The problems are said to be limited to the GreenTec/Wallbox division. Burdened by EUR 25 million in restructuring costs for the division, 2026 will be a transitional year. However, the longer-term outlook remains intact. The Defense and Transportation divisions are growing by over 20%. In addition, Software and Solutions are generating strong margins, and the order backlog stands at a record level of EUR 2.5 billion. However, given analysts’ estimates for the coming years, the “Buy” recommendation is somewhat surprising. Revenue is projected to rise from EUR 1.61 billion in 2025 to EUR 1.97 billion by 2028. The picture is different for the EBITDA margin, however. After 14.8% last year, it is expected to be 11.6% in 2026 and recover only to 13.1% by 2028. Earnings per share are projected to be EUR 1.56 this year and rise to EUR 2.06 by 2028. Setting a price target of EUR 34 at this stage seems somewhat ambitious.
Lahontan Gold could be among the top performers in the gold sector in 2026. Given the current resource of 2 million ounces and the likelihood that this will soon be increased, the stock appears anything but expensive. TKMS is no bargain. While the company has strong revenue visibility, the construction of ships and submarines is also highly complex. Mistakes can lead to massive costs. Therefore, buying the stock amid negative industry sentiment is not a priority. The same applies to Kontron. It is likely that the recovery rally will continue a bit longer, but 2026 will not be an easy year for the technology company.
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