Capstone Copper (TSE:CS) Releases Earnings Results

Capstone Copper (TSE:CS) posted its quarterly earnings results on Thursday. The mining company reported C$0.19 earnings per share for the quarter, reports. Capstone Copper had a return on equity of 12.69% and a net margin of 17.04%.The firm had revenue of C$1.05 billion for the quarter.

Here are the key takeaways from Capstone Copper’s conference call:

• Record financial performance continued: Q2 copper production reached 51.8 thousand tonnes, adjusted EBITDA rose 64% year over year to $354 million, and adjusted net income attributable to shareholders was $97.6 million. Net debt fell to $675 million, reducing net leverage to 0.5x, while liquidity exceeded $1 billion.
• Management reaffirmed 2026 production, cost, and capital expenditure guidance, with stronger second-half output expected from higher grades and throughput at Mantoverde. Mantoverde delivered record throughput and low unit costs, while Cozamin tracked toward the upper end of its production guidance.
• Mantoverde Optimized remains on schedule and budget, with remaining tie-ins planned for September and ramp-up expected in Q4; sustained sulfide throughput of approximately 45,000 tonnes per day is targeted in early 2027. The proposed $45 million Pyrite Augmentation Project is expected to cut acid requirements by 20% and add about 3,500 tonnes of annual copper production.
• To manage elevated sulfuric acid prices, Capstone is temporarily reducing higher-cost heap-leach feed, lowering expected cathode output by roughly 5,000 tonnes while reallocating ore to the sulfide circuit, keeping consolidated copper production broadly neutral. Pinto Valley remains below potential, with a September shutdown targeting its filter plant and primary crusher, while a Santo Domingo sanctioning decision and updated project CapEx are expected in Q4.

Capstone Copper Stock Performance

CS opened at C$13.31 on Friday. The stock has a market cap of C$10.17 billion, a P/E ratio of 24.20, a P/E/G ratio of -0.09 and a beta of 2.20. The company has a debt-to-equity ratio of 45.85, a current ratio of 1.35 and a quick ratio of 0.98. The stock’s 50 day simple moving average is C$13.63 and its 200 day simple moving average is C$13.18. Capstone Copper has a 1-year low of C$7.45 and a 1-year high of C$18.04.

Analyst Upgrades and Downgrades

CS has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their target price on Capstone Copper from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Scotiabank upped their price target on shares of Capstone Copper from C$15.50 to C$18.00 and gave the stock a “sector outperform” rating in a research note on Monday, June 15th. TD cut their price target on shares of Capstone Copper from C$17.00 to C$16.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, National Bank Financial raised their price objective on shares of Capstone Copper from C$14.00 to C$16.50 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.35.

Insiders Place Their Bets

In related news, Director John Mackenzie sold 816,200 shares of Capstone Copper stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$13.09, for a total transaction of C$10,684,058.00. Following the completion of the transaction, the director directly owned 7,000,000 shares of the company’s stock, valued at approximately C$91,630,000. The trade was a 10.44% decrease in their ownership of the stock. 15.37% of the stock is owned by insiders.

Capstone Copper Company Profile

Capstone Copper Corp is a company that mines, explores, and develops mineral properties in the Americas. Specifically, the group has operating mines in the US, Mexico, and Canada, and development projects in Chile and Canada. Capstone’s main focus is copper, but the company also produces zinc, lead, molybdenum, silver, and gold.