Taseko Mines Limited (NYSE:TGB) Expected to Post Q2 2024 Earnings of $0.01 Per Share

Taseko Mines Limited (NYSE:TGB) – Equities research analysts at National Bank Financial lowered their Q2 2024 earnings per share estimates for shares of Taseko Mines in a research note issued to investors on Thursday, May 2nd. National Bank Financial analyst S. Nagle now expects that the company will post earnings per share of $0.01 for the quarter, down from their prior estimate of $0.03. The consensus estimate for Taseko Mines’ current full-year earnings is $0.12 per share. National Bank Financial also issued estimates for Taseko Mines’ Q3 2024 earnings at $0.01 EPS, FY2024 earnings at $0.06 EPS and FY2025 earnings at $0.14 EPS.

Several other brokerages have also weighed in on TGB. TheStreet raised Taseko Mines from a “d” rating to a “c” rating in a research report on Thursday, March 14th. Stifel Nicolaus started coverage on Taseko Mines in a report on Tuesday, March 26th. They issued a “buy” rating on the stock. Finally, TD Securities boosted their target price on Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a report on Tuesday, March 26th.

Taseko Mines Stock Up 1.2 %

Shares of TGB opened at $2.53 on Monday. Taseko Mines has a fifty-two week low of $1.05 and a fifty-two week high of $2.71. The company’s fifty day moving average is $2.15 and its two-hundred day moving average is $1.61. The firm has a market cap of $735.50 million, a PE ratio of 10.54 and a beta of 1.91. The company has a quick ratio of 1.11, a current ratio of 1.97 and a debt-to-equity ratio of 1.34.

Taseko Mines (NYSE:TGB) last released its earnings results on Thursday, March 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Taseko Mines had a return on equity of 11.44% and a net margin of 17.37%. The company had revenue of $112.90 million during the quarter.

Institutional Trading of Taseko Mines

Large investors have recently added to or reduced their stakes in the stock. Acuitas Investments LLC increased its stake in shares of Taseko Mines by 36.0% in the 4th quarter. Acuitas Investments LLC now owns 2,141,258 shares of the company’s stock worth $2,998,000 after purchasing an additional 566,414 shares in the last quarter. Cahaba Wealth Management Inc. raised its holdings in Taseko Mines by 38.2% during 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 period. Aigen Investment Management LP purchased a new position in shares of Taseko Mines in the third quarter valued at about $28,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Taseko Mines by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,225,411 shares of the company’s stock worth $7,906,000 after purchasing an additional 394,376 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Taseko Mines during the 4th quarter valued at approximately $102,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Taseko Mines Company Profile

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.