Capstone Copper (TSE:CS) Posts Earnings Results

Capstone Copper (TSE:CS) issued its quarterly earnings data on Wednesday. The mining company reported C$0.17 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$907.15 million during the quarter. Capstone Copper had a net margin of 13.27% and a return on equity of 9.77%.

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

• Q1 delivered consolidated copper production of 48,000 tonnes at a C1 cash cost of $2.66/lb, driving a record adjusted EBITDA of $329 million and adjusted net income of $95 million while 2026 guidance remains unchanged (200k–230k t at $2.45–$2.75/lb).
• The balance sheet strengthened — net debt declined by about $43 million to $738 million with net debt/EBITDA at 0.7x and >$1 billion in available liquidity, positioning the company to de‑leverage further and fund growth (Santo Domingo financing optionality).
• The Mantoverde Optimized project is reported on budget and on schedule, with Q3 tie‑ins and a Q4 ramp expected to sustain ~45,000 tpd and add ~20,000 tpa of copper at a low capital intensity (~$9k/ton).
• Input cost pressure from higher diesel and sulfuric acid prices is increasing direct costs and C1; cathode operations are exposed to acid price risk and could be reduced or paused if acid remains expensive despite the company saying most 2026 supply is contracted.
• Project and exploration progress continues — Santo Domingo is ~60% through detailed engineering with an expected FID in Q4 and Mantoverde drilling is ~94% complete — but final CapEx, permitting and partner decisions remain subject to further work and market conditions.

Capstone Copper Stock Down 1.9%

CS opened at C$10.84 on Thursday. The company has a debt-to-equity ratio of 45.58, a current ratio of 1.20 and a quick ratio of 0.98. The company’s 50-day moving average is C$11.73 and its 200 day moving average is C$12.78. Capstone Copper has a fifty-two week low of C$6.31 and a fifty-two week high of C$18.04. The firm has a market capitalization of C$8.28 billion, a P/E ratio of 26.44, a PEG ratio of -0.09 and a beta of 2.16.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CS. Canadian Imperial Bank of Commerce cut shares of Capstone Copper from an “outperform” rating to a “hold” rating and reduced their price objective for the company from C$20.00 to C$16.00 in a report on Thursday, February 19th. TD reduced their price objective 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. Stifel Nicolaus raised their price target on shares of Capstone Copper from C$17.00 to C$20.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Desjardins lowered shares of Capstone Copper from a “buy” rating to a “hold” rating and dropped their price target for the company from C$18.00 to C$16.00 in a research report on Wednesday, February 18th. Finally, Clarkson Capital raised shares of Capstone Copper from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$16.10.

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.