Capstone Copper Corp. (TSE:CS) has received a positive outlook from market analysts, with an average target price set at C$16.00. This rating comes from five brokerages currently covering the company, according to a report from Marketbeat. Analysts have expressed a balanced view, with two recommending a hold, two suggesting a buy, and one issuing a strong buy rating.
Recent Upgrades and Analyst Ratings
Several financial institutions have recently adjusted their price targets for Capstone Copper. On October 15, 2023, BMO Capital Markets raised its price objective from C$13.00 to C$14.00. Following this, TD Securities also increased its target from C$10.00 to C$14.00 on October 21, 2023. Jefferies Financial Group set a target of C$15.00 in a research note published on October 6, 2023.
The Royal Bank of Canada has been more optimistic, raising its price objective from C$15.00 to C$17.00 on December 10, 2023. National Bankshares also increased its target price, moving from C$15.00 to C$16.50, while providing an “outperform” rating in a report released on December 11, 2023.
Financial Performance and Future Projections
Capstone Copper last reported its earnings on October 30, 2023, revealing an earnings per share (EPS) of C$0.32 for the quarter. The company reported revenue of C$833.28 million, but it faced challenges with a negative return on equity of 0.74% and a negative net margin of 1.47%. Analysts predict that Capstone Copper will achieve an EPS of approximately 0.85 for the current fiscal year.
Capstone Copper Corp. is engaged in the mining, exploration, and development of mineral properties across the Americas, with operational mines located in the United States, Mexico, and Canada. The company’s primary focus is on copper, but it also produces other minerals including zinc, lead, molybdenum, silver, and gold.
As the market continues to evolve, analysts will be monitoring Capstone Copper’s performance closely, particularly in light of these recent upgrades and the company’s financial indicators.
