Marimaca Copper reported a quarterly loss of C$0.03 per share, one cent more than analysts expected. For a copper developer still advancing its flagship project, though, earnings per share tell only part of the story.
Marimaca Copper Corp. (TSX: MARI) reported results for the quarter ended September 30, 2026, after the market closed on November 4. Its calendar EPS was -C$0.03, compared with an estimate of -C$0.02. That’s a 50% wider loss than expected. Marimaca is developing the Marimaca Oxide Deposit in northern Chile. The supplied earnings data does not include a revenue estimate or result, so there’s no revenue comparison to make.
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
+10.12%
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 103.1% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$14.59
+103.1% Upside
Previously C$14.40 on Nov 6, 2026
Current Price
C$7.18
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
46.1%
Annualized
90-Day Vol
48.6%
Annualized
Trend (90d)
-28.8%
Annualized drift
90d Mean
C$6.48
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$6.94 | C$5.92 – C$8.13 |
| 60 trading days | C$6.70 | C$5.35 – C$8.39 |
| 90 trading days | C$6.48 | C$4.92 – C$8.53 |
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: MARI’s loss per share was wider than expected, but the available data doesn’t include quarterly revenue, project spending, cash balance, or financing details. The EPS miss alone doesn’t determine the project’s prospects. Marimaca says it is preparing a project financing package and working toward a full construction decision. Funding, permits, execution, and copper prices are also important to the investment case.
C$0.03 loss per share
Marimaca reported calendar EPS of -C$0.03, compared with an estimate of -C$0.02. The loss was 50% wider than expected. That does not mean earnings fell by 50%. Based on the comparable-quarter data provided, the company has missed estimates in three of its last four reported quarters.
Bull case
Marimaca’s flagship project is in Chile’s Antofagasta region. The company says its location near Antofagasta and the port of Mejillones is an advantage for development. A recent board appointment also brings mining finance experience. Louis Irvine, who joined the board effective November 1, has held senior finance roles at mining companies and worked with copper projects in South America.
The latest quarterly loss was smaller than the -C$0.1218 per share reported for the March 2026 quarter. But quarterly results can vary, and one comparison doesn’t establish a trend.
Bear case
Marimaca is still losing money, with trailing-twelve-month EPS of -C$0.28 and a reported profit margin of 0%. Its September-quarter loss was wider than expected. The company also needs to advance its project financing package and reach a construction decision.
Mining projects face risks such as limited or costly financing, permitting delays, construction setbacks, cost overruns, and changes in copper prices. MARI.TO also closed below its 50-day and 200-day moving averages. The supplied 90-day statistical model forecasts a lower mean share price.
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