Marimaca Copper Corp.

TSX:MARI Stock Report

Market Cap: CA$456.6m

Marimaca Copper Valuation

Is MARI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MARI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MARI (CA$4.98) is trading below our estimate of fair value (CA$94.06)

Significantly Below Fair Value: MARI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MARI?

Key metric: As MARI is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for MARI. This is calculated by dividing MARI's market cap by their current book value.
What is MARI's PB Ratio?
PB Ratio3.1x
BookUS$112.91m
Market CapUS$317.26m

Price to Book Ratio vs Peers

How does MARI's PB Ratio compare to its peers?

The above table shows the PB ratio for MARI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.6x
III Imperial Metals
0.4xn/aCA$302.7m
ALDE Aldebaran Resources
2.5xn/aCA$292.3m
TKO Taseko Mines
1.8x43.9%CA$846.6m
ASCU Arizona Sonoran Copper
1.6x-31.2%CA$187.0m
MARI Marimaca Copper
3.1x76.0%CA$456.6m

Price-To-Book vs Peers: MARI is expensive based on its Price-To-Book Ratio (3.1x) compared to the peer average (1.6x).

Price to Book Ratio vs Industry

How does MARI's PB Ratio compare vs other companies in the CA Metals and Mining Industry?

89 CompaniesPrice / BookEstimated GrowthMarket Cap
WM Wallbridge Mining
0.2xn/aUS$45.72m
S Sherritt International
0.1xn/aUS$45.55m
NCU Nevada Copper
0.1xn/aUS$31.56m
VGCX Victoria Gold
0.06xn/aUS$24.21m
MARI 3.1xIndustry Avg. 1.3xNo. of Companies182PB01.22.43.64.86+
89 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: MARI is expensive based on its Price-To-Book Ratio (3.1x) compared to the Canadian Metals and Mining industry average (1.3x).

Price to Book Ratio vs Fair Ratio

What is MARI's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MARI PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MARI's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MARI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$4.98
CA$6.56
+31.6%
11.2%CA$8.26CA$6.01n/a7
Dec ’25CA$4.78
CA$6.44
+34.8%
11.3%CA$8.12CA$5.75n/a7
Nov ’25CA$4.43
CA$6.34
+43.0%
11.6%CA$7.99CA$5.54n/a7
Oct ’25CA$3.90
CA$6.13
+57.1%
8.8%CA$7.27CA$5.49n/a7
Sep ’25CA$3.88
CA$6.12
+57.7%
8.8%CA$7.30CA$5.50n/a7
Aug ’25CA$3.87
CA$6.27
+62.1%
9.0%CA$7.50CA$5.56n/a7
Jul ’25CA$3.84
CA$6.02
+56.8%
4.9%CA$6.48CA$5.50n/a6
Jun ’25CA$3.97
CA$6.04
+52.1%
4.7%CA$6.49CA$5.54n/a6
May ’25CA$3.90
CA$6.03
+54.7%
4.8%CA$6.47CA$5.50n/a6
Apr ’25CA$3.56
CA$5.78
+62.4%
6.9%CA$6.09CA$5.02n/a6
Mar ’25CA$3.55
CA$5.77
+62.5%
6.8%CA$6.07CA$5.01n/a6
Feb ’25CA$3.28
CA$5.72
+74.3%
7.3%CA$6.02CA$4.88n/a6
Jan ’25CA$3.43
CA$6.35
+85.2%
22.8%CA$9.73CA$4.90n/a7
Dec ’24CA$3.50
CA$6.44
+84.0%
22.4%CA$9.81CA$4.95CA$4.787
Nov ’24CA$3.72
CA$6.55
+76.2%
22.5%CA$9.99CA$4.99CA$4.437
Oct ’24CA$4.00
CA$6.48
+62.0%
21.6%CA$9.73CA$5.08CA$3.907
Sep ’24CA$4.05
CA$6.50
+60.4%
21.6%CA$9.76CA$5.10CA$3.887
Aug ’24CA$4.24
CA$6.39
+50.8%
21.4%CA$9.58CA$5.00CA$3.877
Jul ’24CA$4.19
CA$6.22
+48.5%
23.1%CA$9.55CA$4.53CA$3.847
Jun ’24CA$3.95
CA$6.30
+59.6%
22.7%CA$9.56CA$4.53CA$3.977
May ’24CA$4.10
CA$6.32
+54.1%
24.2%CA$9.51CA$4.48CA$3.906
Apr ’24CA$3.77
CA$5.66
+50.1%
9.3%CA$6.17CA$4.59CA$3.566
Mar ’24CA$3.60
CA$5.56
+54.5%
9.2%CA$6.05CA$4.50CA$3.556
Feb ’24CA$3.58
CA$5.54
+54.8%
9.0%CA$6.02CA$4.51CA$3.286
Jan ’24CA$3.22
CA$5.43
+68.5%
9.2%CA$5.99CA$4.47CA$3.436
Dec ’23CA$3.15
CA$5.25
+66.6%
8.3%CA$5.81CA$4.49CA$3.505

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 12:43
End of Day Share Price 2024/12/19 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Marimaca Copper Corp. is covered by 10 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael CurranBeacon Securities Limited
Alexander Robert PearceBMO Capital Markets Equity Research
Dalton BarettoCanaccord Genuity