Capstone Copper (TSE:CS) Posts Quarterly Earnings Results

Capstone Copper (TSE:CS) issued its quarterly earnings results on Thursday. The mining company reported C$0.19 earnings per share (EPS) for the quarter, reports. Capstone Copper had a net margin of 17.04% and a return on equity of 12.69%. The business 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 Up 3.5%

Shares of TSE CS opened at C$13.25 on Friday. The business has a 50-day moving average of C$13.63 and a two-hundred day moving average of C$13.17. The company has a market capitalization of C$10.12 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of -0.09 and a beta of 2.20. Capstone Copper has a 1 year low of C$7.45 and a 1 year high of C$18.04. The company has a debt-to-equity ratio of 45.85, a current ratio of 1.35 and a quick ratio of 0.98.

Insider Activity at Capstone Copper

In other news, Director John Mackenzie sold 816,200 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$13.09, for a total value of C$10,684,058.00. Following the transaction, the director owned 7,000,000 shares in the company, valued at approximately C$91,630,000. This represents a 10.44% decrease in their position. Insiders own 15.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CS. Scotiabank boosted 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 Capstone Copper from C$17.00 to C$16.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Stifel Nicolaus lifted their price objective on Capstone Copper from C$20.00 to C$21.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, National Bank Financial raised their target price on shares of Capstone Copper from C$14.00 to C$16.50 and gave the company an “outperform” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$16.35.

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.