True North CopperASX:TNC +2.67%34 Altman Z-Score is -0.43 as of Jun. 30, 2026. GuruFocus rates ASX:TNC with a GF Score™ of 34/100. The stock has 6 warning signs investors should review. Among 786 Metals & Mining companies, True North Copper ranks worse than 88.55% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Warning Sign:
Altman Z-score of -0.41 is in distress zone. This implies bankruptcy possibility in the next two years.
True North Copper has a Altman Z-Score of -0.43, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for True North Copper's Altman Z-Score or its related term are showing as below:
ASX:TNC'
s Altman Z-Score Range Over the Past 10 Years
Min: -1.04 Med: -0.84 Max: -0.41
Current: -0.41
During the past 6 years, True North Copper's highest Altman Z-Score was -0.41. The lowest was -1.04. And the median was -0.84.
True North Copper (ASX:TNC) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
True North Copper Altman Z-Score Related Terms
True North Copper Altman Z-Score Historical Data
* Premium members only.
The historical data trend for True North Copper's Altman Z-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Copper subindustry, True North Copper's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
True North Copper Altman Z-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, True North Copper's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where True North Copper's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
True North Copper's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.1389
+
1.4
*
-0.9245
+
3.3
*
-0.2201
+
0.6
*
2.3679
+
1.0
*
0.0067
=
-0.43
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
True North Copper (ASX:TNC) has a Altman Z-Score of -0.43 as of Jun. 30, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on True North Copper and its competitors. According to the industry distribution chart, True North Copper ranks #696 out of 786 companies in the Metals & Mining industry, placing it in the top 88.5%.
Is True North Copper's Altman Z-Score too high?
True North Copper's current Altman Z-Score is -0.43. Based on the distribution chart, True North Copper ranks #696 out of 786 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, True North Copper has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does True North Copper's Altman Z-Score compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, True North Copper ranks #696 out of 786 companies for Altman Z-Score. This places True North Copper in the lower half of its industry. The industry median Altman Z-Score is 3.37. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for a Metals & Mining company?
The median Altman Z-Score among Metals & Mining companies is 3.37, based on 786 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on True North Copper and its competitors. For the Metals & Mining industry, the median Altman Z-Score is 3.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. True North Copper's current Altman Z-Score is -0.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is True North Copper stock overvalued right now?
True North Copper (ASX:TNC) has a current Altman Z-Score of -0.43. The current Altman Z-Score is -0.43. True North Copper's overall GF Score™ is 34/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For True North Copper (ASX:TNC), the current Altman Z-Score is -0.43 as of Jun. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
True North Copper Ltd is an active mineral exploration company focused on land holdings in North and Central Queensland. It holds exploration tenements for copper, cobalt, gold, and silver, along with a free carried interest in three New South Wales copper-gold porphyry tenements. The company's main projects are the Cloncurry Copper Project, which targets IOCG and copper-gold deposits for open-pit mining, and the Mt Oxide Project, known for its high-grade copper, cobalt, and silver deposit. Its primary revenue comes from the sale of copper sulphate pentahydrate.
34GF Score
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