Insights

Why the Copper Mountain (ASX:C6C) share price is hitting a record high today

The Copper Mountain Mining Corporation (ASX: C6C) share price is creating new records today. We take a look into what is driving the miner’s share price higher.
The post Why the Copper Mountain (ASX:C6C) share price is hitting a record high today appeared first on The Motley Fool Australia. –

asx shares volatility represented by illustration of business man on boat at the top of a wave

The Copper Mountain Mining Corporation (ASX: C6C) share price is reaching new highs today. This comes after the company announced a record quarterly production from its mines, and provided guidance for the 2021 calendar year.

At the time of writing, the Copper Mountain share price is travelling 8.2% higher to $2.37.

How did Copper Mountain perform in 2020?

The Copper Mountain share price is on the run as investors are fighting to get a hold of its shares.

According to the release, Copper Mountain advised that it has achieved record quarterly production for copper, gold and silver. The robust result to finish off the calendar year saw the company exceed its previous production targets.

At the end of the fourth quarter, Copper Mountain produced a record 23.1 million pounds of copper. This reflected a 22% increase on the third quarter period and was 23% up on the same time last year. Management said that the strong performance was due to mining higher copper grades.

In addition, Copper Mountain yielded record gold and silver production, which led to 8,959 ounces and 144,934 ounces, respectively.

In 2020 as a whole, Copper Mountain reported 77.6 million pounds of copper produced. The company had originally projected it would mine and develop between 70 million to 75 million pounds of copper across the period. Total yearly production for precious metals came in at 29,227 ounces of gold and 392,494 ounces of silver.

FY21 production and guidance update

Looking ahead, Copper Mountain estimates 2021 production for copper to be around 85 million to 95 million pounds. The robust guidance comes as the company continues to mine higher grades of the base metal. Furthermore, its mill expansion project is scheduled to be completed in the third quarter. This will allow the company to recover up to 45,000 tonnes of copper per day.

Gold production for the year is projected to be between 25,000 ounces to 30,000 ounces, with its cheaper cousin silver forecast to come in at between 500,000 ounces and 550,000 ounces.

All-in-costs is forecasted to remain low throughout 2021, with total costs coming in around US$1.80 to US$2 per pound. This assumes an exchange rate of CAD$1.33 to US$1.

Words from management

Copper Mountain president and CEO Mr Gil Clausen commented on the company’s performance:

Our operating team executed on our operating plan beating our production guidance for this year. We finished the year strong with record production in the fourth quarter as a result of higher grades, which we expect to continue in 2021.

We are continuing to build up a healthy cash position while investing in our low risk, high return growth projects at the Copper Mountain Mine.

Copper Mountain share price summary

The Copper Mountain share price is up almost 200% over the last 12 months, reflecting positive investor sentiment.

The company’s shares reached a low of 33.5 cents in March, however they have since shot up to a record high of $2.37 today.

At the current price, Copper Mountain stands a market capitalisation of $459.8 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Copper Mountain (ASX:C6C) share price is hitting a record high today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!