olivLaw · US equity research
Idaho Copper Corporation COPR
Metal Mining · SIC 1000 · Vertical: Metal Mining (SIC 1000)
Idaho Copper Corporation is a mineral exploration and development company working on the CuMo project in Idaho, a large copper, molybdenum and silver deposit still in the study phase with no production. The company faces pressing funding needs to finance feasibility studies and continue operations, and its financial position is marked by substantial doubt about its ability to continue as a going concern.
At the close of 04 Nov 2026, Idaho Copper Corporation (COPR) stock was 1.37 USD (−11.61% on the day), with market capitalisation 25.7 m USD, 52-week range 1.37–4.15 USD. Latest reported quarter (Q2 2027): net income of -2.2 m USD, diluted EPS -0.14 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 16.4
- oversold (≤ 30)
- Bollinger (20, 2)
- 1.10 – 3.53
- in the lower half of the band · %B 0.11 · band width 104.8%
- SMA 50 / 200
- 2.90 / unavailable
- MACD (12, 26, 9)
- -0.41 / -0.33
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −58.1% | −1.1% | −57.0 pp | — |
| 3 months | −47.3% | −0.5% | −46.9 pp | — |
| 6 months | unavailable | +4.4% | unavailable | — |
| Year to date | unavailable | +12.3% | unavailable | — |
| 1 year | unavailable | +13.5% | unavailable | −9.8% |
| 3 years | unavailable | +76.4% | unavailable | +85.2% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 31 Jul 2026
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Operating income | -2.2 m | -598.1 k | -563.1 k | -701.5 k | -670.0 k | -689.1 k | -1.3 m | -1.1 m |
| Interest expense | 148.1 k | 106.4 k | 119.8 k | 76.5 k | 119.0 k | 113.6 k | 134.8 k | 392.2 k |
| Net income | -2.4 m | -704.5 k | -682.9 k | -778.0 k | -789.0 k | -825.1 k | -1.5 m | -2.2 m |
| Diluted EPS | -0.01 | — | -0.05 | -0.06 | 0.00 | — | -0.11 | -0.14 |
| Operating cash flow | -472.5 k ≈ | -431.7 k | -226.0 k | -100.2 k ≈ | -133.4 k ≈ | -359.1 k | -855.1 k | -2.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7 m | 609.2 k | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Revenue YoY | −49.4% | −63.5% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Net income | -1.5 m | -1.2 m | -2.3 m | -121.8 k | -74.7 k | -3.7 m | -5.1 m | -3.1 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | -0.01 | 0.00 | -0.02 | -0.42 | -0.23 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -91.2% | -203.2% | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Free cash flow | -894.9 k | -861.6 k | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 24.3 k USD
- Financial debt
- 569.0 k USD
- Net debt
- 544.7 k USD
- Equity
- -6.5 m USD
- Total assets
- 192.0 k USD
- Debt / equity
- unavailable
- Current ratio
- 0.02x
- ROE
- unavailable
- ROA
- -1,210.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating income | -222.6 k | -121.8 k | -74.7 k | -3.0 m | -4.7 m | -2.6 m | SEC (XBRL)· 17 Mar 2026verified |
| Interest expense | — | — | — | 401.0 k | 403.2 k | 428.9 k | SEC (XBRL)· 17 Mar 2026verified |
| Pre-tax income | -222.9 k | -121.8 k | -74.7 k | — | — | — | SEC (XBRL)· 10 Mar 2023verified |
| Net income | -2.3 m | -121.8 k | -74.7 k | -3.7 m | -5.1 m | -3.1 m | SEC (XBRL)· 17 Mar 2026verified |
| Diluted EPS | — | -0.01 | 0.00 | -0.02 | -0.42 | -0.23 | SEC (XBRL)· 17 Mar 2026verified |
| Weighted average diluted shares | — | 20.1 m | 20.1 m | 211.3 m | 12.4 m | 13.4 m | SEC (XBRL)· 17 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | — | — | — | 30.1 k | 100.7 k | 24.3 k | SEC (XBRL)· 17 Mar 2026verified |
| Current assets | 119.1 k | — | — | 51.8 k | 208.8 k | 92.0 k | SEC (XBRL)· 17 Mar 2026verified |
| Total assets | 119.1 k | — | — | 151.8 k | 315.9 k | 192.0 k | SEC (XBRL)· 17 Mar 2026verified |
| Accounts payable | 119.1 k | — | — | 434.5 k | 325.1 k | — | SEC (XBRL)· 22 Apr 2025verified |
| Long-term debt | — | — | — | — | 100.0 k | 569.0 k | SEC (XBRL)· 17 Mar 2026verified |
| Current liabilities | 864.0 k | 107.1 k | 177.8 k | 1.9 m | 2.1 m | 4.7 m | SEC (XBRL)· 17 Mar 2026verified |
| Total liabilities | — | — | — | 6.2 m | 5.5 m | 6.6 m | SEC (XBRL)· 17 Mar 2026verified |
| Equity | -744.9 k | -107.1 k | -177.8 k † | -6.1 m † | -5.2 m † | -6.5 m † | SEC (XBRL)· 17 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -564.8 k | -70.1 k | — | -868.4 k | -2.5 m | -818.6 k | SEC (XBRL)· 17 Mar 2026verified |
| Investing cash flow | -79.4 k | 119.1 k | — | — | — | — | SEC (XBRL)· 30 Mar 2022verified |
| Financing cash flow | 607.1 k | -49.0 k | — | 467.2 k | 2.6 m | 742.2 k | SEC (XBRL)· 17 Mar 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 18.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 25.7 m USD
Key indicators
Coverage and freshness
Score by group
19% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -47.8% | 0 (on a fixed band) | 44% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -5.0x | 0 (on a fixed band) | 33% |
| Current ratio · Balance sheet | 5.5x | 100 (on a fixed band) | 22% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
IDAHO COPPER CORPORATION (COPR). Latest full fiscal year: 2019; data up to 2026-07-31.
Figures computed from the financial statements: YoY growth -63.5%; ROE -187.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 5.5x
What contradicts it
- Revenue CAGR 3Y: -47.8%
- Interest coverage: -5.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Metal Mining (SIC 1000) · same industry (4-digit SIC) · compared with 26 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BHPBhp Group Limited | 406.8 bn | 45.2 | 19.5% | 17.6% | −7.9% | +46% / +31% |
| SCCOSouthern Copper Corp | 149.3 bn | 23.0 | 53.2% | 37.3% | +17.4% | +35% / +163% |
| RIORio Tinto PLC | 106.2 bn | 13.9 | 17.0% | 17.3% | +7.4% | +18% / +22% |
| FCXFreeport-McMoRan Inc. | 89.9 bn | 29.2 | 21.8% | 16.2% | +1.8% | +46% / +68% |
| HBMHudbay Minerals Inc. | 8.8 bn | 15.4 | 19.7% | 25.7% | +9.4% | +31% / +388% |
| CLFCleveland-Cliffs Inc. | 7.3 bn | — | -8.5% | -2.4% | −3.0% | −2% / −25% |
| BVNBuenaventura Mining Co Inc | 7.3 bn | 18.1 | 12.6% | 34.9% | +40.1% | +16% / +202% |
| MPMP Materials Corp. | 6.4 bn | — | -4.1% | -19.9% | +10.1% | −42% / +126% |
| EROEro Copper Corp | 3.2 bn | 12.2 | 34.6% | 33.6% | +67.1% | +21% / +150% |
| NEXANexa Resources S.A. | 1.6 bn | 11.9 | 14.6% | 4.4% | +8.5% | +70% / +103% |
| IEIvanhoe Electric Inc. | 1.2 bn | — | -8.4% | -1,138.7% | +11.8% | −46% / −32% |
| USARUSA Rare Earth, Inc. | 1.1 bn | — | -23.6% | -2,159.3% | unavailable | −39% / −20% |
| TMCTMC the metals Co Inc. | 1.0 bn | 4.2 | -1,123.2% | — | unavailable | −67% / +103% |
| USASAmericas Gold And Silver Corporation | 986.9 m | — | -61.6% | -74.1% | +17.7% | −31% / +413% |
| ASMAvino Silver & Gold Mines Ltd. | 769.3 m | 79.0 | 7.0% | 12.2% | +50.8% | −15% / +746% |
| LARLithium Argentina AG | 682.1 m | — | -9.5% | — | +12.9% | −24% / −21% |
| SGMLSigma Lithium Corporation | 626.1 m | — | -67.4% | -45.6% | −27.3% | −50% / −81% |
| GSMFerroglobe PLC | 547.5 m | — | -25.9% | -12.8% | −18.8% | −34% / −49% |
| ALOYRealloys Inc. | 459.5 m | — | -155.8% | -5,144.4% | −5.3% | −5% / +68% |
| THMInternational Tower Hill Mines Ltd | 455.2 m | — | -2.8% | — | unavailable | −10% / +222% |
| LZMLifezone Metals Limited | 336.9 m | — | -16.7% | -1,289.2% | +652.2% | +1% / −60% |
| USAUU.s. Gold Corp. | 186.4 m | — | -55.2% | — | −30.9% | −35% / +239% |
| PZGParamount Gold Nevada Corp. | 83.9 m | — | -46.1% | — | −54.7% | −20% / +146% |
| WWRWestwater Resources, Inc. | 52.5 m | — | -19.1% | — | unavailable | −57% / −33% |
| COPRIdaho Copper Corporation | 25.7 m | — | -187.5% | — | −63.5% | unavailable / unavailable |
1- and 3-year price returns: for COPR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Idaho Copper Corporation is a mineral exploration and development company working on the CuMo project in Idaho, a large copper, molybdenum and silver deposit still in the study phase with no production. The company faces pressing funding needs to finance feasibility studies and continue operations, and its financial position is marked by substantial doubt about its ability to continue as a going concern 12.
SWOT
Strengths
- The CuMo project is described as one of the largest untapped copper projects in the United States, with valuable co-products.
- Drilling data accumulated in earlier periods and the geological model of the deposit provide a base for future studies.
- The company has obtained approval of its drilling plan, which allows it to advance exploration.
Weaknesses
- The company has no operating revenue and depends on external financing to continue its activities.
- There is significant uncertainty about going concern, and cumulative losses are large.
- The technical team is small and relies on external consultants for critical services.
Opportunities
- If copper and molybdenum prices remain favorable, the project could become more attractive to financiers.
- Ore sorting could significantly improve project economics if tests confirm the potential.
- The stock listing could open access to larger capital for the next stages.
Threats
- Construction costs could rise above the 2020 estimates, and financing could become more expensive.
- Permitting and opposition from environmental organizations could delay or block the project.
- Shareholder dilution through note and warrant conversions could reduce the value of existing shares.
Risks
- Financing and going concernhigh
The company lacks sufficient funds for the feasibility study and construction, and a failure to obtain financing could delay or halt development of the project.
- Reserve and resource uncertaintyhigh
Resource estimates may not be indicative of the copper that can actually be mined, and changes in prices or recoveries could alter economic viability.
- Capital costsmedium
The 2020 estimate has not been updated, and inflation and financing costs could make the final figure significantly higher.
- Permitting and environmentmedium
Federal and state permitting and possible litigation or opposition from environmental groups could delay project development.
- Dilution and capital structuremedium
Note conversions and warrant exercises could reduce the stake of existing shareholders and could create selling pressure.
Investment thesis
What would need to be true (bull case)
- If the CuMo project proves economic and the company secures the necessary financing, its position as a large undeveloped copper, molybdenum and silver project could become a strategic advantage in the United States.
- The molybdenum and silver co-products, together with possibly effective ore sorting, could improve project economics relative to initial estimates.
- The NYSE American listing could ease access to capital for the next stages of study and permitting.
What would break the thesis
- The company has no revenue, has accumulated losses over many years, and could remain dependent on repeated financings that dilute existing shareholders.
- The 2020 cost estimates are considered outdated, and if real costs rise significantly, the project could become uneconomic.
- The going concern uncertainty noted in the financial reports could turn funding problems into questions about the company's survival.
What to watch
- Securing financing for the preliminary feasibility study2027
- Trend in net losses and working capitalQ1 2027
- Conversion of notes and exercise of warrants following the NYSE American listing2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Idaho Copper Corporation is a mineral exploration and development company focused on a large copper, molybdenum and silver deposit in Idaho, United States, known as the CuMo project 1. The company was formed through transactions from 2020 to 2023: the former Joway Health Industries became a shell company, and in January 2023 it acquired ICUMO through a share exchange, which holds the mining claims to the project 1. It has no revenue from mining operations and does not currently produce metals 1.
The project consists of 126 federal unpatented lode mining claims and six patented claims in an unorganized mining district in Boise County, covering roughly 2,640 acres 1. Geologically the deposit is a stockwork type, with thin molybdenite veinlets spread through a very large concentric system, and the company is investigating ore sorting to raise the grade of mill feed 1.
The business remains at a preliminary stage: the company lacks funds for a preliminary feasibility study, budgeted at 40 million dollars, and for a bankable feasibility study or construction 1. The 2020 initial capital cost estimate was about 1,263 million dollars, but the company expects an updated figure to be higher due to inflation and financing costs 1.
Segments
CuMo exploration and development
The CuMo project is the sole material mining operation, and its development depends on drilling results, US Forest Service permits and future financing 1. The Forest Service approved the drilling plan of operations in the first quarter of 2025, subject to bonding and other conditions 1.
Financing and assets
The assets include the CuMo project, independently valued at a fair market value noted in the quarterly report, while recent financing came from convertible notes and private placements, including a later closing in May 2026 2. The replacement notes are secured by a first priority lien over most of the assets and mining claims 1.
Market context
The reference market is copper, along with molybdenum and silver, which trade on international exchanges and provide a theoretical terminal market for any future output 1. The company points to a copper supply deficit it hopes to capture, but the available sources do not provide a quantitative market analysis 1.
Demand and metal prices are volatile and could affect the economic viability of the project, and a significant change in copper, molybdenum or silver prices could materially change return estimates 12. The company listed its shares on NYSE American in July 2026, which may change its access to capital markets 2.
Trends
- Copper supply deficittailwind
The company links the project to a looming copper supply deficit, which could sustain investor interest in undeveloped projects in the United States 1.
- Rising capital costsheadwind
Inflation and higher financing costs since 2020 mean the project's cost estimates are expected to rise above the 2020 level, which could make financing harder 1.
- Ore sortingmixed
Ore sorting could reduce the volume of waste rock processed, and the company advances the idea based on a visual scan of drill core, but the technology has not yet been validated at project scale 1.
- Access to capital marketsmixed
The NYSE American listing could ease fundraising, but dilution from new issues and note conversions could limit the benefit to shareholders 2.
Competitive position
The company describes its competitors as other exploration companies seeking mineral properties and financing, and in product sales competition could come from other copper, molybdenum or silver producers that already hold production capacity 1. The mining industry is largely un-integrated, so projects compete for capital and access to resources 1.
The company's stated advantage is the size of the deposit and the presence of molybdenum and silver co-products, which could improve project economics if those prices remain favorable 1. Direct competitors for capital are exploration companies with similar North American projects 1.
- Other mineral exploration and development companies
Compete for mineral properties and financing, according to the company's own description in its annual report.
- Copper and molybdenum producers
Could compete for sales of mineral products if the project reaches the production stage.
- Mine operators using ore sorting
More than ninety active mines worldwide use some form of ore sorting, which shows the technology is already commercial.
- Other US copper project developers
Compete for investor attention and financing for high-potential projects in the United States.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report26 Oct 2026Regulation FD disclosure
- Current report22 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report01 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report31 Aug 2026
- Current report11 Aug 2026Material agreement · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report05 Aug 2026Material agreement · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report06 Jul 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report02 Jul 2026Material agreement · Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report01 Jun 2026
- Current report23 Apr 2026Material agreement · Item 3.02 · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / Idaho Copper Corporation · 17 Mar 2026
- [2] Form 10-Q, quarter ended 2026-07-31 · SEC / Idaho Copper Corporation · 31 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.