Capstone Copper (TSE:CS) Stock Crosses Above 200-Day Moving Average After Earnings Miss

Shares of Capstone Copper Corp. (TSE:CS) passed above its 200-day moving average during trading on Friday after the company announced better than expected quarterly earnings. The stock has a 200-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 trading hands.

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

Wall Street Analyst Weigh In

CS has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on shares of Capstone Copper from C$11.00 to C$11.50 in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price target on Capstone Copper from C$13.00 to C$14.00 in a research report on Friday, July 12th. Royal Bank of Canada decreased their price objective on Capstone Copper from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Scotiabank lifted their target price on Capstone Copper from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, National Bankshares boosted their target price on Capstone Copper from C$12.75 to C$13.75 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$12.84.

Insider Activity

In other news, Director Humberto Antonio Fernandois sold 29,906 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$9.26, for a total value of C$276,977.41. In other Capstone Copper news, Director Humberto Antonio Fernandois sold 29,906 shares of Capstone Copper stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$9.26, for a total transaction of C$276,977.41. Also, Director Darren Murvin Pylot sold 283,954 shares of Capstone Copper 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. Insiders have sold 474,079 shares of company stock valued at $4,766,854 over the last ninety days. 15.37% of the stock is currently owned by insiders.

Capstone Copper Stock Up 1.1 %

The stock has a market cap of C$7.33 billion, a PE ratio of -46.38, a price-to-earnings-growth ratio of -0.09 and a beta of 2.14. The company has a current ratio of 0.94, a quick ratio of 0.98 and a debt-to-equity ratio of 40.10. The business has a 50-day moving average price of C$9.86 and a 200-day moving average price of C$9.70.

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.