Copperstone Resources AB Class B (VISC) AI Stock Analysis

• Market Cap: kr4.62B
• Dividend Yield: N/A
• Average Volume (3M): 260.40K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.10
• Revenue Growth: N/A
• EPS Growth: -91.81%
• Country: SE
• Employees: 35
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.22
• Shares Outstanding: 240,322,570
• 10 Day Avg. Volume: 356,344
• 30 Day Avg. Volume: 260,400
• PEG Ratio: -1.32
• Price to Book (P/B): 1.32
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.67
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: kr21.50 ▲(18.65% Upside)

The score is primarily weighed down by weak financial performance—ongoing operating losses and substantial negative free cash flow—despite a low-debt balance sheet and improved operating cash flow. Technicals are supportive due to strong momentum above major moving averages, but overbought indicators temper the outlook. Valuation is also a drag given the negative P/E and lack of dividend yield data.

Positive Factors

Low leverage / strong balance sheet

Very low debt provides durable financial flexibility for a capital‑intensive explorer. With minimal leverage the company can better withstand commodity cycles, fund exploration or staged development without immediate refinancing pressure, preserving optionality over months.

Operating cash flow inflection

A sustained move to positive operating cash flow signals improving operational cash generation versus prior years. This reduces near‑term reliance on external funding for activity, supports project advancement, and lowers structural financing risk over the medium term.

Equity base has strengthened

A materially larger equity base increases the capital cushion available for exploration and development. For an early‑stage miner this durable capital buffer lowers insolvency risk, enables multi‑year project programs, and supports strategic options without excessive leverage.

Negative Factors

Persistent operating losses

Consistent negative EBIT and net losses show the business has not transitioned to profit. For a project developer this undermines return generation, increases funding dependency, and raises execution risk because projects must deliver value before corporate profitability is achieved.

Very large negative free cash flow

Substantial negative free cash flow from heavy investment implies persistent cash burn. Over months this compels external financing, increases dilution or debt risk, and constrains the company’s ability to pace exploration or development without material capital raises.

No reported operating revenue

Absence of reported revenue prevents clear assessment of commercialization progress and margin sustainability. Without demonstrable sales, project monetization timing is uncertain, making long‑term cash flow forecasts and investment returns highly dependent on execution risk.

Copperstone Resources AB Class B Business Overview & Revenue Model

Company Description

Gruvaktiebolaget Viscaria operates as a mining company in Sweden. It primarily focuses on copper. The company holds interests in Viscaria copper mine in Kiruna. It also holds various processing concessions and exploration permits in Arvidsjaur and Smedjebacken. The company was formerly known as Copperstone Resources AB and changed its name to Gruvaktiebolaget Viscaria in May 2024. Gruvaktiebolaget Viscaria was incorporated in 2006 and is headquartered in Kiruna, Sweden.

How the Company Makes Money

Copperstone Resources AB generates revenue primarily through the exploration, development, and potential future production of mineral resources, particularly copper. The company invests in identifying and evaluating mineral deposits, which can later be developed into mining operations. Revenue streams are expected to come from the eventual sale of extracted minerals, either directly to market or through agreements with industrial partners. Additionally, Copperstone Resources may engage in joint ventures or partnerships with other mining companies to share the costs and profits associated with large-scale mining projects, thereby enhancing its revenue potential. Key factors contributing to the company's earnings include successful discovery and delineation of mineral resources, efficient extraction processes, and favorable market conditions for copper and other metals.

Copperstone Resources AB Class B Financial Statement Overview

Summary

Overall financials are constrained by persistent losses (negative EBIT/net income through 2021–2024 and TTM, with losses worsening in TTM) and very large negative free cash flow in TTM (-795.0M). Offsetting this, the balance sheet is a relative strength with very low leverage (debt-to-equity ~1.6%) and improved operating cash flow in TTM (+87.2M).

Income Statement

Profitability remains weak: EBIT and net income are negative across 2021–2024 and in TTM (Trailing-Twelve-Months) (net loss of -87.0M vs. -48.2M in 2024), indicating rising losses recently. EBITDA is also negative in the latest periods, pointing to an operation still not covering its cost base. A key limitation is the lack of reported revenue (0), which reduces visibility into operating scale and the quality of margins; while gross profit is positive in several years, it has not translated into operating or bottom-line profitability.

Balance Sheet

The balance sheet is a relative strength, supported by low leverage: debt-to-equity stays very modest (about 1.6% in TTM (Trailing-Twelve-Months), similarly low in prior years). Equity has grown materially versus earlier years, providing a thicker capital cushion. The main weakness is returns: return on equity is negative in 2021–2024 and worsened in TTM (Trailing-Twelve-Months) (about -5.6%), meaning the company is not generating profits on its capital base despite the conservative debt position.

Cash Flow

Cash flow quality is mixed. Operating cash flow improved to +87.2M in TTM (Trailing-Twelve-Months) (from +6.0M in 2024 and negative in 2021–2023), which is a positive operational inflection. However, free cash flow is deeply negative and deteriorated to -795.0M in TTM (Trailing-Twelve-Months) (vs. -452.1M in 2024), implying very heavy investment spending and/or working-capital build. While the latest free cash flow growth is positive, the absolute cash burn remains large and is a key financial risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	269.70M	-6.60M	256.70M	179.70M	106.39M	40.97M
EBITDA	-46.90M	-39.30M	-25.00M	-14.40M	-11.60M	7.71M
Net Income	-87.00M	-48.20M	-30.10M	-21.80M	-16.25M	6.91M
Balance Sheet
Total Assets	2.68B	1.78B	1.29B	1.06B	606.94M	347.82M
Cash, Cash Equivalents and Short-Term Investments	316.50M	231.80M	266.30M	329.20M	124.29M	952.00K
Total Debt	25.10M	22.20M	20.00M	38.40M	34.51M	9.10M
Total Liabilities	1.15B	178.60M	66.40M	77.20M	64.59M	51.02M
Stockholders Equity	1.53B	1.60B	1.23B	986.50M	542.35M	296.80M
Cash Flow
Free Cash Flow	-795.00M	-452.10M	-333.40M	-261.80M	-136.20M	-13.58M
Operating Cash Flow	87.20M	6.00M	-24.30M	-16.50M	-24.16M	27.89M
Investing Cash Flow	-888.30M	-457.80M	-309.10M	-245.20M	-112.04M	-41.43M
Financing Cash Flow	732.90M	417.30M	270.50M	466.60M	259.54M	-4.61M

Copperstone Resources AB Class B Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VISC, the sentiment is Neutral. The current price of 18.12 is below the 20-day moving average (MA) of 20.17, above the 50-day MA of 16.62, and above the 200-day MA of 15.30, indicating a neutral trend. The MACD of 0.76 indicates Positive momentum. The RSI at 49.90 is Neutral, neither overbought nor oversold. The STOCH value of 19.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:VISC.

Copperstone Resources AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOTX	70 Outperform	kr579.43M	11.83	―	―	―	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
VISC	49 Neutral	kr4.62B	-27.82	-5.53%	―	―	-91.81%