Marimaca Copper reported a loss of C$0.03 per share for the quarter ended September 30, 2026, compared with analysts’ expected loss of C$0.02. The result adds to a mixed earnings record as the Chile-focused copper developer prepares to advance its flagship project.
Marimaca Copper Corp. (TSX: MARI; MARI.TO) reported calendar EPS of -C$0.03 after markets closed on November 4, missing the -C$0.02 estimate by 50%. The company remains unprofitable, with trailing 12-month EPS of -C$0.28 and a reported profit margin of 0.00%. For investors, the quarterly loss is one part of a development-stage story focused on the Marimaca Oxide Deposit in northern Chile. It does not reflect the performance of an operating mine.
Recent earnings trend
Marimaca Copper Corp
MARI.TO
MARI.TO
Marimaca Copper Corp
WealthAwesomeMarket cap
$913.66M
52W high
$13.49
52W low
$6.25
1W change
+1.50%
Beta
0.73
Analyst Price Targets
Based on analyst covering MARI · as of Nov 9, 2026
Wall Street analysts forecast MARI stock price to rise 115.8% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$14.59
+115.8% Upside
Previously C$14.40 on Nov 6, 2026
Current Price
C$6.76
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on MARI's historical volatility
30-Day Vol
41.6%
Annualized
90-Day Vol
47.5%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$5.65
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$6.37 | C$5.52 – C$7.35 |
| 60 trading days | C$6.00 | C$4.90 – C$7.35 |
| 90 trading days | C$5.65 | C$4.41 – C$7.25 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-30 | — | -0.0100 | — |
| 2026-09-30 | 2026-11-04 | -0.0300 | -0.0200 | -50.0% |
| 2026-06-30 | 2026-08-13 | -0.0200 | -0.0200 | +0.0% |
| 2026-03-31 | 2026-05-11 | -0.1218 | -0.0200 | -509.0% |
| 2025-12-31 | 2026-03-30 | -0.0900 | -0.1200 | +25.0% |
| 2025-09-30 | 2025-11-12 | -0.0900 | -0.0200 | -350.0% |
Investor takeaway: Marimaca fell short of the estimate from the one analyst covering quarterly EPS and has beaten estimates in just one of its last four reported quarters. No analysts provided a revenue estimate, so there’s no useful revenue comparison. The investment case depends on project development, financing and construction decisions. The share price and model-based outlook also point to considerable uncertainty.
C$0.03 loss per share
Marimaca’s loss was one cent per share greater than the expected C$0.02 loss. The reported surprise was -50.0%. Since both figures are losses, the per-share difference is the clearest way to understand the miss.
Bull case
Marimaca is advancing its flagship oxide deposit in Chile’s Antofagasta region. The company says the project is near the city of Antofagasta and the port of Mejillones. It also holds exploration properties at Pampa Medina and Madrugador. On November 2, the company appointed mining finance veteran Louis Irvine to its board. His experience in project financing and capital allocation could be useful as Marimaca prepares a financing package and works toward a full construction decision.
Bear case
Marimaca is still losing money, and its latest EPS result missed expectations. Its recent earnings record is uneven: the company beat estimates in one of its last four comparable quarters and sharply missed in March 2026. Developing the project brings financing, permitting, construction-cost and schedule risks. Copper prices and broader market conditions could also affect its economics. The shares closed at C$6.76, below their 50-day and 200-day moving averages and closer to the 52-week low of C$6.25 than the high of C$13.49.
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