Topic: How To Invest

Q: Pat, can you give me your advice on Capstone Copper, and the outlook for copper. Thank you.

Article Excerpt

A: Capstone Copper Corp., $7.72, symbol CS on Toronto (Shares outstanding: 759.6 million; Market cap: $6.2 billion; www.capstonecopper.com), is an Americas-focused copper mining company headquartered in Vancouver, Canada. Capstone owns and operates the Pinto Valley copper mine in Arizona, the Cozamin copper-silver mine in Zacatecas, Mexico, the Mantos Blancos copper-silver mine in the Antofagasta region of Chile, and 70% of the Mantoverde copper-gold mine in Chile’s Atacama region. In 2023, the mining firm completed its flagship Mantoverde mine. It should start producing saleable metal by the second quarter of this year. Production from Mantoverde is expected to lift Capstone’s overall 2024 production to about 190,000 to 220,000 tonnes of copper. That means the company will produce about 15.6% to 33.9% more copper in 2024 than the 164,300 tonnes it produced in 2023. In the three months ended December 31, 2023, Capstone’s revenue fell 2.3%, to $353.7 million from $362.1 million a year earlier. (All figures except share price and market cap in U.S. dollars.) Revenue…