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Capstone Copper

CSCCF
75
Copper · Basic Materials
Price
$11.67
+0.51 (+4.55%)
Market Cap
$8.91B
Exchange
Other OTC
Winston Score
75
Winston is happy
A high-quality business with solid fundamentals.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Exceptional
Cash Flow
Strong
Stability
Strong
Valuation
Strong

Share count rising — dilution

+84.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 414.1M (2021) → 764.4M (2025)

Winston Score History

The full picture

Capstone Copper is a mining company that digs copper out of the ground and sells it to manufacturers around the world. Copper is used in electrical wiring, electric vehicles, and construction, making it a critical industrial metal. Capstone operates several large mines, with its flagship Mantoverde mine in Chile being one of its most important assets.

The company makes money by selling copper concentrate and cathode to smelters and industrial buyers, with revenue tied directly to global copper prices. Capstone operates primarily in the Americas, with mines in Chile, Mexico, and the United States, and its roughly $7 billion market cap makes it a mid-sized player in the global copper industry. Its competitive position rests on owning long-life, low-cost mines in established mining jurisdictions, but the biggest risk it faces is copper price volatility — a sharp drop in prices can quickly squeeze margins and slow planned expansion projects like the Mantoverde Development Project.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+36.2% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+208.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

9.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$367M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Capstone Copper is growing revenue at 36% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
49.3%
Healthy — 49.3% gross margin
Profit after running costs
Operating Margin
31.7%
Excellent — 31.7% operating margin
Return on the money invested
ROCE
16.2%
Strong — 16.2% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+37.5%
Fast-growing sales (+37.5% YoY)
Profit growth
EPS YoY
+536.1%
Earnings growing fast (+536.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
160%
Turns 160% of profit into real cash
Spare cash per sale
FCF Margin
4.9%
Thin free cash flow (4.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.34
Conservative — low debt load (0.34)
Covers its interest
Interest Cover
8.99x
Comfortably covers interest (9.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
19.0x
Fair value — P/E 19.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+8.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (19.0 → 11.0)

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Dividends

Not applicable for this business.
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