Marimaca Copper (TSE:MARI)
TSX:MARI
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Marimaca Copper
(TSX:MARI)
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Rating:46Neutral
Price Target:
C$8.50
▼(-6.70% Downside)
Action:ReiteratedDate:04/03/26
The score is held back primarily by pre-revenue financial performance with widening losses and significant negative operating/free cash flow. Technicals also lean bearish with the price below major moving averages and a negative MACD. The key support is a very low-debt balance sheet, but negative earnings and no dividend/meaningful P/E limit valuation support.
Positive Factors
Low leverage / strong balance sheet
A near-zero debt profile and substantial equity provide durable financial flexibility to fund development-stage capex, support permitting and exploration, and lower bankruptcy risk. This strengthens the firm's ability to withstand funding cycles and negotiate JV or offtake terms over the next 2–6 months.
Negative Factors
Pre-revenue with widening losses
The company remains pre-revenue and has growing net losses, meaning operations do not generate earnings. Over the medium term this necessitates continued capital raises or partner agreements to fund development, increasing dilution risk and creating execution pressure before cash flow conversion.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A near-zero debt profile and substantial equity provide durable financial flexibility to fund development-stage capex, support permitting and exploration, and lower bankruptcy risk. This strengthens the firm's ability to withstand funding cycles and negotiate JV or offtake terms over the next 2–6 months.
Read all positive factors
Marimaca Copper (MARI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.11B
Dividend YieldN/A
Average Volume (3M)66.85K
Price to Earnings (P/E)―
Beta (1Y)0.78
Revenue GrowthN/A
EPS Growth-67.01%
CountryCA
Employees23
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)-0.17
Shares Outstanding133,820,980
10 Day Avg. Volume33,014
30 Day Avg. Volume66,852
Financial Highlights & Ratios
PEG Ratio-0.42
Price to Book (P/B)5.06
Price to Sales (P/S)0.00
P/FCF Ratio-24.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$15.34Price Target Upside68.42% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.15
Revenue Forecast (FY)N/A
Marimaca Copper Business Overview & Revenue Model
Company Description
Marimaca Copper Corp. engages in the acquisition, exploration, and development of mineral properties and projects in the United States and Chile. The company explores for copper, iron ore, gold, and other base and precious metals. Its flagship pro...
How the Company Makes Money
null...
Marimaca Copper Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -205.00K | 0.00 | 0.00 | -46.00K | -48.00K |
| EBITDA | -28.95M | -14.24M | -5.84M | -6.77M | -17.19M |
| Net Income | -26.28M | -13.75M | -7.11M | -2.16M | -18.81M |
Balance Sheet | |||||
| Total Assets | 178.53M | 112.38M | 95.60M | 84.83M | 92.80M |
| Cash, Cash Equivalents and Short-Term Investments | 66.78M | 22.65M | 16.69M | 14.64M | 26.79M |
| Total Debt | 934.00K | 45.00K | 128.00K | 0.00 | 3.00M |
| Total Liabilities | 5.59M | 2.81M | 1.20M | 561.00K | 9.49M |
| Stockholders Equity | 172.94M | 109.58M | 94.39M | 84.26M | 83.31M |
Cash Flow | |||||
| Free Cash Flow | -35.23M | -17.76M | -12.97M | -24.78M | -20.48M |
| Operating Cash Flow | -18.81M | -5.74M | -3.13M | -3.01M | -10.74M |
| Investing Cash Flow | -16.41M | -12.02M | -9.85M | -5.78M | -9.74M |
| Financing Cash Flow | 79.21M | 23.73M | 15.10M | -3.04M | 33.41M |
Marimaca Copper Technical Analysis
Neutral
9.11
Price Trends
9.46
Negative
10.44
Negative
10.46
Negative
Market Momentum
-0.11
Negative
53.96
Neutral
72.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MARI, the sentiment is Neutral. The current price of 9.11 is above the 20-day moving average (MA) of 8.49, below the 50-day MA of 9.46, and below the 200-day MA of 10.46, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 53.96 is Neutral, neither overbought nor oversold. The STOCH value of 72.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:MARI.
Marimaca Copper Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$1.27B | 10.94 | 16.22% | ― | 39.93% | 39.86% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | C$1.67B | -124.97 | -3.01% | ― | ― | 53.99% | |
56 Neutral | C$1.43B | -22.07 | -63.51% | ― | ― | -5.73% | |
53 Neutral | C$440.51M | -48.09 | -6.57% | ― | ― | -194.27% | |
46 Neutral | C$1.11B | -33.29 | -17.94% | ― | ― | -67.01% | |
44 Neutral | C$340.02M | -449.00 | -1.26% | ― | ― | -72.73% |
* Basic Materials Sector Average
TSE:MARI
Marimaca Copper
8.37
3.63
76.58%
TSE:FDY
Faraday Copper
5.14
4.28
497.67%
TSE:CUU
Copper Fox Metals
0.60
0.36
150.00%
TSE:III
Imperial Metals
7.15
3.69
106.65%
TSE:LA
Los Andes Copper
16.30
10.33
172.80%
TSE:ASCU
Arizona Sonoran Copper Co.
8.06
5.91
274.88%
Marimaca Copper Corporate Events
Business Operations and StrategyExecutive/Board Changes
Marimaca Copper Overhauls Board to Back Next Phase of Chilean Mine Development
Positive
Mar 30, 2026
Marimaca Copper has strengthened its board with the appointment of veteran project engineer Zenon Wozniak as an independent non-executive director and chair of the Project Steering Technical Committee. Wozniak brings more than 40 years of global ...
Business Operations and StrategyExecutive/Board Changes
Marimaca Bolsters Leadership as Chilean Copper Project Nears Construction Milestone
Positive
Mar 2, 2026
Marimaca Copper has strengthened its senior leadership team with the appointment of Joshua Watson as Project Director to lead development of the Marimaca Oxide Deposit in Chile, and the promotion of Nico Cookson to President. Watson brings more th...
Business Operations and StrategyPrivate Placements and Financing
Marimaca Copper Completes C$409 Million Global Equity Offering as Greenstone Cuts Stake
Positive
Feb 27, 2026
Marimaca Copper has completed its global treasury and secondary equity offering, raising total gross proceeds of C$409 million (about A$423 million) across Canadian and Australian markets. The latest step was the closing of an Australian secondary...
Business Operations and StrategyPrivate Placements and Financing
Marimaca Copper Bolsters Project Funding With C$257 Million Canadian Equity Offering
Positive
Feb 26, 2026
Marimaca Copper has closed its Canadian treasury and secondary offering, raising C$257 million as part of a larger C$409 million global equity offering, with the Australian secondary component expected to close in the coming days. The Canadian tre...
Business Operations and Strategy
Marimaca Extends Oxide Footprint at Pampa Medina, Eyes Larger Pampa Oxide Study
Positive
Jan 26, 2026
Marimaca Copper reported Phase II drilling results from its Pampa Medina deposit in Chile, where scout holes on a wide grid have significantly extended the known oxide copper footprint to the north-east, intersecting broad, high-grade oxide interv...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.