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Surge Copper Corp (SURG) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Surge Copper Corp stock C$0.37, price C$0.45, that is 17.8% below the price, quality 26 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials CA · ISIN CA86881M1041

SC Surge Copper Corp logo Thin data Nov 10, 2026

Surge Copper Corp

SURG · V
Expensive, weak quality

Our calculation puts a fair price 18% below what the stock costs today.

Ranks above peers (5/7)
Mixed Growth (revenue YoY +984.2 %/yr in CAD)
Fair value C$0.3658 · Overvalued
Quality 26/100
Negative free cash flow
Narrow moat 9/100
Thin data
⟳ CyclicalEstimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

C$0.9100 C$0.0600 Fair Value C$0.3658 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range C$0.0600 – C$0.9100 · fair‑value band C$0.2743 – C$0.4572 · the C$0.4450 price screens above the C$0.3658 fair value. As of Nov 10, 2026.

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Company profile

Surge Copper Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. It explores for copper, gold, silver, and molybdenum deposits.

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The company's flagship project is the 100% owned Berg Property that consist of 93 mineral claims covering 36,056.32 hectares situated in British Columbia. The company was formerly known as Gold Reach Resources Ltd. and changed its name to Surge Copper Corp. in February 2018.

Surge Copper Corp. was incorporated in 1965 and is based in Vancouver, Canada.

Stock analysis

Surge Copper Corp (SURG) currently trades at C$0.4450, while our estimate is C$0.3658, 18% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: C$0.2743 (bear) to C$0.4572 (bull), the price of C$0.4450 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 26/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Surge Copper Corp reported revenue of C$0 in FY2026 versus C$0 in FY2022. Reported net income was −C$4.6M in FY2026.

Key figures

Market cap C$168M (≈ $119M) Micro · EPS (TTM) C$−0.0200 · Return on equity −8.0% · Return on assets (EBIT) −4.9% (5-year average) · EPS growth (YoY) +723% · Free cash flow −C$2.7M · Net cash C$2.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 51% below its 52-week high and 71% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at −18%, SURG screens richer than that median.

Fair Value

Bear C$0.2743 Fair Value C$0.3658 Bull C$0.4572
Price C$0.4450 · Downside -17.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 26/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 40
Are margins and returns getting better?
Cashflow 1
Do the profits arrive as real cash?
Financial strength 94
Debt, balance sheet and risk of trouble
Investment 9
Does it invest with discipline instead of growing at any price?
Low Volatility 9
How calm the share price moves, does not count
Price momentum 41
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 64
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 20/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

SURG screens overvalued: fair value 18% below the price. Compare with BHP Group →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 577 stocks

Beats the industry median on 4/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −17.8% · Above median
Profitability
Return on assets −5.6% · Above median
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Below median

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 1.58× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)10 · sector 4
FUTURE (revenue growth)0 · sector 45
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 33

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹262.00 ₹334.17 +28% vs SURG
Saudi Arabian Mining Company 1211 57.00 SAR 64.24 SAR +13% vs SURG
Western Mining Co 601168 ¥28.25 ¥30.98 +10% vs SURG
Hindustan Zinc Limited HINDZINC ₹575.95 ₹624.91 +9% vs SURG
Boliden AB BOL kr 515.20 kr 464.45 −10% vs SURG
BHP Group BHP A$60.39 A$47.47 −21% vs SURG
Zhejiang Huayou Cobalt Co 603799 ¥32.69 ¥25.57 −22% vs SURG
Korea Zinc Company 010130 967,000 KRW 649,125 KRW −33% vs SURG
CMOC Group 603993 ¥13.71 ¥6.82 −50% vs SURG
China Tungsten And Hightech Materials Co 000657 ¥40.90 ¥4.44 −89% vs SURG

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Surge Copper Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Surge Copper Corp Fair Value". https://www.fairvalue-calculator.com/stock/SURG

Frequently asked questions

Is Surge Copper Corp (SURG) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is C$0.3658 versus a price of C$0.4450, about 18% lower (overvalued).
What is the fair value of SURG?
Our estimate for Surge Copper Corp is C$0.3658 (as of Nov 10, 2026), built from audited fundamentals. The current price: C$0.4450.
What is the quality score of SURG?
Surge Copper Corp has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Surge Copper Corp (SURG)?
Our calculated price target is the estimate of C$0.3658 (as of Nov 10, 2026). Cautious scenario C$0.2743, optimistic scenario C$0.4572. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Surge Copper Corp stock forecast for 2026?
Our estimate puts fair value at C$0.3658, about 18% lower versus a price of C$0.4450 (overvalued). Cautious scenario C$0.2743, optimistic scenario C$0.4572. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Surge Copper Corp (SURG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Surge Copper Corp it is C$0.3658 per share (as of Nov 10, 2026), against a price of C$0.4450.
Is Surge Copper Corp stock overvalued or undervalued in 2026?
As of Nov 10, 2026, SURG trades above its calculated fair value: price C$0.4450, fair value C$0.3658, a gap of about −18% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SURG?
No. The price is what the market pays today (C$0.4450); the fair value is what the company's own numbers justify (C$0.3658). For Surge Copper Corp the two are C$0.0792 per share apart. That gap is exactly why we show both numbers side by side.
How much is Surge Copper Corp worth?
The market values Surge Copper Corp at about C$168M (market capitalisation, as of Nov 10, 2026). Per share that is C$0.4450; our models calculate a fair value of C$0.3658 per share.
What do the bullish and bearish scenarios say about SURG?
Our models span a range for Surge Copper Corp: cautious scenario C$0.2743, base C$0.3658, optimistic C$0.4572 per share (as of Nov 10, 2026, price C$0.4450). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Surge Copper Corp (SURG)?
Balance-sheet figures for Surge Copper Corp (as of Nov 10, 2026): return on equity −8.0%. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is SURG from its 52-week high?
Surge Copper Corp trades at C$0.4450, about 51% below its 52-week high of C$0.9100 and 71% above the low of C$0.2600 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.3658 is for.
Which stocks are comparable to Surge Copper Corp?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Surge Copper Corp stock attractive at the current price?
The data as of Nov 10, 2026: price C$0.4450, calculated fair value C$0.3658 (−18%), Quality Score 26/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Surge Copper Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Surge Copper Corp (SURG)?
The closing price on Nov 10, 2026 was C$0.4450. Our estimate is C$0.3658, about 18% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Surge Copper Corp right now?
Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Surge Copper Corp

How large is the market capitalisation of Surge Copper Corp (SURG)?
The market capitalisation of Surge Copper Corp is C$168M (≈ $119M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Surge Copper Corp (SURG)?
Earnings per share at Surge Copper Corp are C$−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Surge Copper Corp (SURG)?
The return on equity (ROE) of Surge Copper Corp is −8.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Surge Copper Corp (SURG)?
On an EBIT basis the return on assets of Surge Copper Corp is −4.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How fast are earnings growing at Surge Copper Corp (SURG)?
Earnings per share at Surge Copper Corp are growing +723% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Surge Copper Corp (SURG) generate?
The free cash flow of Surge Copper Corp is −C$2.7M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Surge Copper Corp (SURG) hold?
Surge Copper Corp holds more cash than debt, C$2.7M net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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