Analysts Issue Forecasts for Taseko Mines Limited’s Q2 2024 Earnings (NYSE:TGB)

Taseko Mines Limited (NYSE:TGB) – Investment analysts at Stifel Canada issued their Q2 2024 earnings per share estimates for shares of Taseko Mines in a research report issued to clients and investors on Monday, July 22nd. Stifel Canada analyst M. Tapscott anticipates that the company will post earnings per share of ($0.02) for the quarter. The consensus estimate for Taseko Mines’ current full-year earnings is $0.08 per share. Stifel Canada also issued estimates for Taseko Mines’ FY2024 earnings at $0.12 EPS.

Taseko Mines (NYSE:TGB) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $109.00 million for the quarter, compared to analyst estimates of $91.89 million. Taseko Mines had a return on equity of 11.44% and a net margin of 17.37%.

Separately, Cantor Fitzgerald raised Taseko Mines to a “strong-buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Taseko Mines has a consensus rating of “Buy” and a consensus target price of $2.75.

Taseko Mines Stock Performance

Shares of Taseko Mines stock opened at $2.15 on Thursday. The company has a market capitalization of $628.61 million, a PE ratio of 8.96 and a beta of 1.75. Taseko Mines has a 12 month low of $1.05 and a 12 month high of $3.15. The company has a current ratio of 1.97, a quick ratio of 1.11 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $2.51 and its 200 day simple moving average is $2.13.

Institutional Trading of Taseko Mines

Several hedge funds and other institutional investors have recently modified their holdings of TGB. Keystone Wealth Services LLC acquired a new stake in shares of Taseko Mines in the 2nd quarter valued at about $37,000. Private Wealth Management Group LLC acquired a new stake in shares of Taseko Mines in the fourth quarter valued at about $38,000. Cahaba Wealth Management Inc. increased its position in shares of Taseko Mines by 38.2% in the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock valued at $51,000 after acquiring an additional 9,980 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Taseko Mines in the fourth quarter valued at about $102,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Taseko Mines by 1,135.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 142,436 shares of the company’s stock valued at $306,000 after acquiring an additional 130,905 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Taseko Mines

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.