One-glance verdict
Overvalued
$1.64 our estimate vs market $7.78
376% above our estimate, beyond the bull case
Fundamentals snapshot
Capstone Copper Corp.
CSCCF · PNK · Basic Materials · Copper
Current price
$7.78
52-week range
$6.80 - $13.32
Market cap
$5.96B
Balance sheet
Watch
4.24x Stretched
Net debt $1.20B. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
1 Risk
2 rewards · 1 risks
- Reward Revenue grew 47.6% last year.
- Reward Free cash flow was positive in 1/10 years.
- Risk Net debt grew 93.6% over 3 years.
What this company does
Capstone Copper Corp.
Capstone Copper Corp. mines for copper and other metals in places like Chile and Mexico, and the money they make primarily comes from selling these metals. This matters because copper is an important metal used in everything from electricity grids to electric cars, so their success is tied to the demand for these things.
How the company got here
Capstone Copper Corp. was formed in March 2022 through the merger of Capstone Mining and Mantos Copper. [5] This combination brought together mining operations and development projects across the Americas, with a primary focus on copper. [1, 5] The company's strategy centers on growing copper production while improving operational efficiency and cost management. [2, 3] Capstone aims to unlock significant copper production growth through innovation and optimization across its portfolio of assets. [2]
What it actually does
Capstone Copper is a mining company that explores for, develops, and produces base metals, with a strong emphasis on copper. [1, 9] While copper is its main product, the company also extracts valuable by-products such as gold, silver, zinc, and molybdenum from its mining operations. [1, 6] These metals are essential components in many everyday products, from electrical wiring and plumbing to electronics and batteries.
Pinto Valley
The Pinto Valley mine, located in Arizona, USA, is an open-pit copper mine. [9, 12, 14] This operation is a significant part of Capstone's portfolio, and the company is exploring opportunities for district-scale growth around the mine. [12, 14] It contributes to Capstone's overall copper production.
Cozamin
The Cozamin mine, situated in Zacatecas, Mexico, is an underground mine that produces copper and silver. [6, 9, 12, 15] Capstone is focused on improving productivity at Cozamin and conducting exploration to extend the mine's life. [7, 12] In 2026, Capstone announced an agreement to sell its stake in the Cozamin mine. [6, 13]
Mantos Blancos
Located in the Antofagasta region of Chile, Mantos Blancos is an open-pit mine that produces copper and silver. [6, 9, 12, 14, 15] The company has been working on expanding throughput at this operation and is evaluating further expansions and tailings reprocessing to increase production. [7, 14] Mantos Blancos is a major contributor to Capstone's copper output. [7]
Mantoverde
Mantoverde, also in the Atacama region of Chile, is a mine where Capstone owns a 70% stake. [9, 12, 14, 15] This operation produces copper cathode and copper concentrate, with gold as a significant by-product. [12, 14, 15] Capstone is undertaking an expansion project at Mantoverde, known as Mantoverde Optimized (MV-O), to increase copper and gold production. [7, 14] This mine is also seen as a potential source of battery-grade cobalt. [5]
Santo Domingo
The Santo Domingo project is a fully permitted copper-iron-gold development located in the Atacama region of Chile. [1, 5, 12, 13, 14] It is considered a key growth driver for Capstone, with a projected long mine life and significant average copper production. [7, 12] The company is progressing this project towards a final investment decision. [2]
What management is betting on now
Capstone's management is focused on unlocking significant copper production growth, targeting a substantial increase in output over the coming years. [7, 11] A key part of this strategy involves advancing major development projects like Santo Domingo and expanding existing operations such as Mantoverde Optimized (MV-O). [2, 7, 14] The company is also prioritizing cost reductions and operational efficiencies across its mines to improve profitability. [2, 3, 7] Capstone aims to achieve these goals while maintaining a strong focus on responsible mining practices and sustainability. [3, 8, 14]
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value $1.64 vs current price $7.78
Our most-likely fair value is $1.64 a share — about 79.0% below today's price of $7.78, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Watch
Net debt $1.2B. Interest coverage 4.2x.
Net debt
$1.20B
Interest coverage
4.24x
Capstone Copper Corp.'s profit covers its interest bill about 4.2 times over.
Watch
Worse cushion
Baseline
Better cushion
CSCCF
BASELINE
Capstone Copper Corp.
Total debt $1.47B Interest coverage 4.24x This is the baseline the peer rows are being compared against.
Total debt $10.36B Interest coverage 17.62x +316% vs CSCCF Carries about 4.2x more debt cushion than CSCCF.
Total debt $8.60B Interest coverage 18.96x +347% vs CSCCF Carries about 4.5x more debt cushion than CSCCF.
Total debt $6.93B Interest coverage 2.12x -50% vs CSCCF Carries about 2.0x less debt cushion than CSCCF.
Total debt $1.04B Interest coverage 6.27x +48% vs CSCCF Carries about 1.5x more debt cushion than CSCCF.
Total debt $488.23M Interest coverage 17.38x +310% vs CSCCF Carries about 4.1x more debt cushion than CSCCF.
What you should know
The case for and against CSCCF
2 Rewards
1 Risk
Rewards
-
Revenue grew 47.6% last year.
-
Free cash flow was positive in 1/10 years.
Risks
-
Net debt grew 93.6% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
18.52x
Forward P/E
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P/B
1.61x
P/S
2.14x
EV/EBITDA
7.13x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
50.5%
Operating margin
35.0%
Net margin
11.7%
ROE
10.2%
ROA
7.8%
Health
Liquidity and balance-sheet strength
Debt / equity
0.35x
Current ratio
0.96x
Quick ratio
0.57x
Total debt
$1.47B
Total cash
$268.62M
Growth
How the business has been compounding
Revenue TTM
$2.79B
Revenue 5Y CAGR
22.1%
EPS TTM
0.42
EPS 5Y CAGR
29.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$685.21M
Free CF TTM
$166.11M
FCF margin
6.0%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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