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Marimaca Copper
(TSX:MARI)
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Rating:54Neutral
Price Target:
C$7.00
▼(-17.55% Downside)
Action:Reiterated
Date:09/09/26
The score is held back primarily by weak financial performance (no revenue, widening losses, and sustained cash burn), partially offset by a low-debt balance sheet that reduces financing risk. Technicals are moderately supportive with positive momentum above key moving averages, while valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
Low Financial Leverage
Extremely low leverage limits refinancing pressure and reduces the burden of interest obligations while the project remains pre-production. This gives Marimaca greater financial flexibility to direct available capital toward exploration, studies, permitting, and project advancement.
Negative Factors
No Operating Revenue
The absence of operating revenue means Marimaca currently lacks sales-funded earnings and remains dependent on advancing its project before commercial production begins. This leaves financial performance highly sensitive to development progress and delays the point at which the business can internally fund operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Extremely low leverage limits refinancing pressure and reduces the burden of interest obligations while the project remains pre-production. This gives Marimaca greater financial flexibility to direct available capital toward exploration, studies, permitting, and project advancement.
Read all positive factors
Marimaca Copper (MARI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$900.15M
Dividend YieldN/A
Average Volume (3M)178.97K
Price to Earnings (P/E)―
Beta (1Y)1.03
Revenue GrowthN/A
EPS Growth-67.26%
CountryCA
Employees46
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)-0.26
Shares Outstanding135,156,920
10 Day Avg. Volume193,178
30 Day Avg. Volume178,971
Financial Highlights & Ratios
PEG Ratio-0.41
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$16.00Price Target Upside88.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.17
Revenue Forecast (FY)N/A
Marimaca Copper Business Overview & Revenue Model
Company Description
Marimaca Copper Corp. engages in the exploration and development of base metal projects in Chile. The company explores for copper, gold, and other mineral deposits. Its flagship project is the 100% owned Marimaca copper project located to the east...
Marimaca Copper Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -218.00K | -205.00K | 0.00 | 0.00 | -46.00K | -48.00K |
| EBITDA | -33.91M | -28.95M | -14.24M | -5.84M | -6.77M | -17.19M |
| Net Income | -31.75M | -26.28M | -13.75M | -7.11M | -2.16M | -18.81M |
Balance Sheet | ||||||
| Total Assets | 268.22M | 178.53M | 112.38M | 95.60M | 84.83M | 92.80M |
| Cash, Cash Equivalents and Short-Term Investments | 140.04M | 66.78M | 22.65M | 16.69M | 14.64M | 26.79M |
| Total Debt | 877.00K | 934.00K | 45.00K | 128.00K | 0.00 | 3.00M |
| Total Liabilities | 7.26M | 5.59M | 2.81M | 1.20M | 561.00K | 9.49M |
| Stockholders Equity | 260.97M | 172.94M | 109.58M | 94.39M | 84.26M | 83.31M |
Cash Flow | ||||||
| Free Cash Flow | -38.70M | -35.23M | -17.76M | -12.97M | -24.78M | -20.48M |
| Operating Cash Flow | -19.30M | -18.81M | -5.74M | -3.13M | -3.01M | -10.74M |
| Investing Cash Flow | -22.03M | -16.41M | -12.02M | -9.85M | -5.78M | -9.74M |
| Financing Cash Flow | 156.68M | 79.21M | 23.73M | 15.10M | -3.04M | 33.41M |
Marimaca Copper Technical Analysis
Negative
8.49
Price Trends
8.18
Negative
7.89
Negative
8.63
Negative
Market Momentum
-0.36
Positive
26.35
Positive
19.95
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MARI, the sentiment is Negative. The current price of 8.49 is above the 20-day moving average (MA) of 7.60, above the 50-day MA of 8.18, and below the 200-day MA of 8.63, indicating a bearish trend. The MACD of -0.36 indicates Positive momentum. The RSI at 26.35 is Positive, neither overbought nor oversold. The STOCH value of 19.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | C$1.11B | 10.04 | 10.49% | ― | 4.77% | -43.42% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | C$900.15M | -18.05 | -14.45% | ― | ― | -67.26% | |
51 Neutral | C$348.42M | -590.00 | -1.28% | 3.89% | ― | -58.33% | |
51 Neutral | C$352.62M | -44.07 | -9.42% | ― | ― | -324.25% | |
46 Neutral | C$1.20B | -27.69 | -36.55% | 128.75% | ― | -19.67% |
* Basic Materials Sector Average
TSE:MARI
Marimaca Copper
6.66
-4.25
-38.96%
TSE:FDY
Faraday Copper
4.07
1.82
80.89%
TSE:CUU
Copper Fox Metals
0.59
0.18
43.90%
TSE:III
Imperial Metals
6.23
-0.62
-9.05%
TSE:LA
Los Andes Copper
11.60
3.11
36.63%
Marimaca Copper Corporate Events
Business Operations and StrategyExecutive/Board Changes
Marimaca Copper Names New CFO as Chilean Flagship Project Advances
Positive
Oct 8, 2026
Marimaca Copper has promoted Peter Garner-Winship to Chief Financial Officer as it advances the Marimaca Oxide Deposit from development toward construction and eventual production. Garner-Winship, who joined as Vice President of Finance in March 2...
Business Operations and Strategy
Marimaca Secures Renewable Power Deal and Advances Marimaca Oxide Project
Positive
Oct 1, 2026
Marimaca Copper has secured authorization to connect the Marimaca Oxide Deposit to the 110kV El Lince grid line and agreed key commercial terms for a renewable power supply, aligning projected electricity costs with assumptions from its definitive...
Business Operations and Strategy
Marimaca Copper Extends High-Grade Sulphide Mantos at Pampa Medina in Chile
Positive
Sep 8, 2026
Marimaca Copper reported a new set of drill results from the Pampa Medina deposit, about 28km east of its Marimaca Oxide Deposit in Chile, confirming thick, high-grade copper and silver sulphide mineralization in the central zone. Key hole SPRD-15...
Business Operations and StrategyExecutive/Board Changes
Marimaca Copper Adds ESG Veteran Nicole Porcile to Board
Positive
Sep 1, 2026
Marimaca Copper has appointed Chilean executive Nicole Porcile as an independent non-executive director, adding more than 25 years of experience in mining, metals, energy and water to its board. Porcile, founder and managing partner of socio-envir...
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.