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

Taseko Mines Limited (NYSE:TGB) – Stock analysts at National Bank Financial reduced their Q2 2024 earnings estimates for shares of Taseko Mines in a research note issued on Thursday, May 2nd. National Bank Financial analyst S. Nagle now expects that the company will earn $0.01 per share 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.

A number of other equities research analysts also recently issued reports on TGB. TD Securities boosted their target price on shares of Taseko Mines from $3.25 to $3.50 and gave the company a “buy” rating in a report on Tuesday, March 26th. TheStreet raised shares of Taseko Mines from a “d” rating to a “c” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus assumed coverage on Taseko Mines in a research report on Tuesday, March 26th. They issued a “buy” rating on the stock.

Taseko Mines Trading Up 1.2 %

NYSE TGB opened at $2.53 on Monday. The company has a market cap of $735.50 million, a P/E ratio of 10.54 and a beta of 1.91. Taseko Mines has a 12 month low of $1.05 and a 12 month high of $2.71. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.97 and a quick ratio of 1.11. The company has a 50-day moving average of $2.15 and a 200-day moving average of $1.61.

Taseko Mines (NYSE:TGB) last released its earnings results on Thursday, March 7th. The company reported $0.06 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 firm had revenue of $112.90 million during the quarter.

Hedge Funds Weigh In On Taseko Mines

A number of institutional investors have recently added to or reduced their stakes in TGB. Cahaba Wealth Management Inc. grew its position in shares of Taseko Mines by 38.2% during the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock worth $51,000 after acquiring an additional 9,980 shares during the last quarter. Aigen Investment Management LP acquired a new position in Taseko Mines during the 3rd quarter valued at about $28,000. Private Wealth Management Group LLC bought a new position in Taseko Mines in the 4th quarter worth about $38,000. Mackenzie Financial Corp acquired a new stake in shares of Taseko Mines in the fourth quarter valued at approximately $102,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Taseko Mines in the first quarter valued at approximately $307,000. 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.