Capstone Copper (TSE:CS) Shares Pass Above 200 Day Moving Average on Disappointing Earnings

Capstone Copper Corp. (TSE:CS) shares passed above its two hundred day moving average during trading on Friday following a stronger than expected earnings report. The stock has a two hundred day moving average of C$9.70 and traded as high as C$9.87. Capstone Copper shares last traded at C$9.74, with a volume of 2,475,063 shares traded.

The mining company reported C$0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.11 by C($0.07). The business had revenue of C$572.14 million during the quarter, compared to analyst estimates of C$612.00 million. Capstone Copper had a negative net margin of 1.47% and a negative return on equity of 1.24%.

Wall Street Analysts Forecast Growth

CS has been the topic of several research analyst reports. Stifel Nicolaus lifted their target price on shares of Capstone Copper from C$11.50 to C$12.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada lowered their target price on shares of Capstone Copper from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Jefferies Financial Group raised their price target on Capstone Copper from C$13.00 to C$14.00 in a report on Friday, July 12th. Scotiabank boosted their price objective on Capstone Copper from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, National Bankshares raised their target price on Capstone Copper from C$12.75 to C$13.75 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$12.84.

Insider Activity at Capstone Copper

In other news, Director Darren Murvin Pylot sold 283,954 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of C$9.96, for a total value of C$2,828,181.84. In other news, Director Darren Murvin Pylot sold 283,954 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$9.96, for a total value of C$2,828,181.84. Also, Director Humberto Antonio Fernandois sold 60,000 shares of Capstone Copper stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$9.25, for a total value of C$554,880.00. Insiders have sold 474,079 shares of company stock valued at $4,766,854 over the last ninety days. Insiders own 15.37% of the company’s stock.

Capstone Copper Price Performance

The company has a market cap of C$7.33 billion, a P/E ratio of -46.38, a PEG ratio of -0.09 and a beta of 2.14. The firm’s 50-day moving average is C$9.86 and its two-hundred day moving average is C$9.70. The company has a debt-to-equity ratio of 40.10, a current ratio of 0.94 and a quick ratio of 0.98.

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.