Scotiabank Reduces Earnings Estimates for Capstone Copper

Capstone Copper Corp. (TSE:CS) – Research analysts at Scotiabank lowered their FY2024 earnings per share estimates for Capstone Copper in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the mining company will post earnings per share of $0.16 for the year, down from their previous estimate of $0.24. Scotiabank has a “Outperform” rating and a $13.00 price objective on the stock. The consensus estimate for Capstone Copper’s current full-year earnings is $0.85 per share.

Several other equities analysts have also commented on the company. Canaccord Genuity Group dropped their target price on Capstone Copper from C$14.00 to C$12.50 in a research note on Monday, November 25th. CIBC upped their price objective on shares of Capstone Copper from C$12.00 to C$12.50 in a research note on Monday, November 25th. Citigroup upgraded shares of Capstone Copper to a “strong-buy” rating in a report on Wednesday, December 11th. TD Securities boosted their target price on shares of Capstone Copper from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Eight Capital increased their price target on shares of Capstone Copper from C$14.00 to C$15.00 in a research note on Friday, November 22nd. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Capstone Copper has an average rating of “Buy” and a consensus target price of C$12.77.

Capstone Copper Trading Down 5.9 %

Shares of Capstone Copper stock opened at C$8.69 on Thursday. Capstone Copper has a fifty-two week low of C$5.97 and a fifty-two week high of C$11.51. The business’s fifty day moving average is C$9.42 and its two-hundred day moving average is C$9.55. The company has a quick ratio of 0.98, a current ratio of 0.94 and a debt-to-equity ratio of 40.10. The firm has a market cap of C$6.54 billion, a PE ratio of -41.38, a P/E/G ratio of -0.09 and a beta of 2.14.

Capstone Copper (TSE:CS) last released its earnings results on Thursday, October 31st. The mining company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.11 by C($0.07). The firm had revenue of C$572.14 million during the quarter, compared to analysts’ expectations of C$612.00 million. Capstone Copper had a negative net margin of 1.47% and a negative return on equity of 1.24%.

Insiders Place Their Bets

In related news, Director John Mackenzie sold 49,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of C$9.65, for a total transaction of C$473,075.40. Also, Director Darren Murvin Pylot sold 500,000 shares of Capstone Copper stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$10.50, for a total transaction of C$5,249,450.00. Insiders have sold 843,250 shares of company stock worth $8,656,280 in the last three months. 15.37% of the stock is owned by insiders.

About Capstone Copper

Capstone Copper Corp. operates as a copper mining company in the United States, Chile, and Mexico. It primarily explores for copper, silver, zinc, and other metals. The company owns 100% interests in Pinto Valley copper mine located in the Arizona, the United States; Mantos Blancos copper-silver mine located in the Region of Antofagasta, Chile; Santo Domingo copper-iron-gold-cobalt project located in the Atacama region, Chile; and Cozamin copper-silver mine located in the Zacatecas, Mexico.