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Operates the Red Chris and Mount Polley copper-gold mines in British Columbia, Canada.
Operates the Red Chris and Mount Polley copper-gold mines in British Columbia, Canada.
Sells copper-gold concentrate from its mines to smelters at prices set by metal markets, with Mount Polley wholly owned and Red Chris a joint venture in which Newmont holds the larger share. A 2014 tailings dam failure at Mount Polley led to a long, costly shutdown and clean-up.
Moat: narrow (installed base, regulatory licence). Owns permitted, producing mines in a stable jurisdiction with existing infrastructure.
Headquarters: Vancouver, Canada · Employees: 463
Size Imperial Metals (III.TO) is a Canada Materials company (Other Metals/Minerals) with a market value of $759M, the 287th largest of 420 Canada companies the cockpit tracks. Shares closed at C$5.97 on 6 Nov 2026.
Performance Over six months the shares fell 2.0%, against -23.3% for the median peer and +5.2% for the Canada market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue grew 4.8% over the last twelve months (peer median +32.4%); the operating margin is 31.6% (peer median 4.5%).
Valuation It trades at 7.6× forward earnings against a peer median of 29.9× (cheapest of 9).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +36%, so the hurdle is -44 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.0 points above its cost of capital (8.0% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$660M | C$692M | C$494M | C$344M | C$173M |
| Revenue growth | — | +40% | +44% | +99% | — |
| Gross profit | C$229M | C$295M | C$155M | -C$19.5M | -C$35.3M |
| EBITDA | C$323M | C$380M | C$212M | C$22.2M | -C$64.4M |
| Net income | C$108M | C$154M | C$106M | -C$36.7M | -C$76.0M |
| Free cash flow | C$75.7M | C$127M | -C$26.8M | -C$126M | -C$231M |
| Capital expenditure | C$217M | C$222M | C$182M | C$122M | C$145M |
| Total debt | C$198M | C$179M | C$373M | C$320M | C$198M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Imperial Metals III.TO | $759M | -2% | +5% | 32% | 7.6× | -7.6% |
| Newmont NEM | $126B | +4% | +23% | 55% | 12.7× | -8.9% |
| Capstone Copper CS.TO | $6.01B | -8% | +30% | 32% | 9.4× | 9.8% |
| Trekor Metals TKO.TO | $2.57B | -1% | +68% | 28% | 9.8× | n/a |
| Hudbay Minerals HBM.TO | $9.35B | -10% | +13% | 32% | 12.0× | 18.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | III.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -26.7% | -17.4% | 2nd lowest of 21 |
| 6-month return | -2.0% | -23.3% | 7th highest of 20 |
| Distance from 52-week high | -57.4% | -47.1% | 7th lowest of 21 |
| Revenue growth (TTM) | +4.8% | +32.4% | 5th lowest of 13 |
| Operating margin | 31.6% | 4.5% | highest of 14 |
| Forward P/E | 7.6× | 29.9× | cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | -7.6% | 17.8% | least demanding of 7 |
| Growth delivered (Del g) | +36.1% | +6.0% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | -43.7 pp | +12.1 pp | least demanding of 7 |
| ROIC minus cost of capital | +5.0 pp | -8.4 pp | 2nd highest of 19 |
| EV / EBITDA | 3.6× | 30.3× | cheapest of 6 |
| Net debt / EBITDA | 0.3× | 0.7× | 3rd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Imperial Metals III.TO | Canada | $759M | -2% | +5% | 32% | 7.6× | -7.6% | +36.1% |
| Mishra Dhatu Nigam MIDHANI.NS | India | $753M | -8% | +18% | 14% | 39.9× | 45.3% | +8.2% |
| Alnera Aluminium 301613.SZ | China | $749M | -36% | +31% | 5% | n/a | 13.7% | +56.0% |
| GRIPM Advanced Materials 688456.SS | China | $780M | -24% | +34% | 2% | 49.6× | n/a | n/a |
| Infund 002141.SZ | China | $738M | +32% | -3% | 11% | n/a | 8.4% | +3.8% |
| Jiangyin Electrical Alloy 300697.SZ | China | $791M | -24% | +54% | 5% | n/a | n/a | n/a |
| Talamore Mining TALA.TO | Canada | $728M | -32% | n/a | n/a | n/a | n/a | n/a |
| NorthIsle Copper and Gold NCX.V | Canada | $725M | +3% | n/a | n/a | n/a | n/a | n/a |
| Gold Royalty GROY | United States | $723M | -14% | +82% | 23% | 39.4× | 54.3% | +58.2% |
| Develop Global DVP.AX | Australia | $801M | -43% | +68% | 4% | 11.8× | n/a | n/a |
| Lithium Americas LAC.TO | Canada | $712M | -64% | n/a | n/a | n/a | n/a | n/a |
| Wenzhou Hongfeng Electrical Alloy 300283.SZ | China | $712M | -23% | +48% | 5% | n/a | n/a | n/a |
| Jinzhou Yongshan Lithium 603399.SS | China | $821M | -45% | +50% | 2% | n/a | n/a | n/a |
| IMC Rare Earths IMC | United States | $824M | n/a | n/a | n/a | n/a | n/a | n/a |
| Luyang Energy-Saving Materials 002088.SZ | China | $837M | +12% | -21% | 1% | 58.4× | 20.8% | +1.3% |
| Talon Metals TLO.TO | Canada | $839M | +3% | n/a | 3% | 17.9× | n/a | n/a |
| Lithium Argentina LAR | United States | $686M | -64% | n/a | n/a | 13.9× | n/a | n/a |
| Enviri NVRI | United States | $672M | +24% | -23% | -19% | n/a | n/a | n/a |
| Gruvaktiebolaget Viscaria VISC.ST | Sweden | $669M | -1% | n/a | n/a | n/a | n/a | n/a |
| Sigma Lithium SGML | United States | $655M | -73% | -14% | 24% | 20.5× | 14.8% | -13.9% |
| Marimaca Copper MARI.TO | Canada | $652M | -18% | n/a | n/a | n/a | n/a | n/a |