Taseko Mines Limited [TGB] moved down -18.18: Why It’s Important

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Taseko Mines Limited [AMEX: TGB] slipped around -0.18 points on Thursday, while shares priced at $0.81 at the close of the session, down -18.18%. The company report on November 12, 2020 that Taseko Announces US$23 Million Bought Deal and up to US$2 Million Concurrent Private Placement.

VANCOUVER, BC, Nov. 11, 2020 /CNW/ – Taseko Mines Limited (TSX: TKO; NYSE American: TGB; LSE: TKO) (“Taseko” or the “Company”) announces that the Company has entered into an agreement dated November 11, 2020 with Cantor Fitzgerald Canada Corporation (the “Lead Underwriter”), as lead underwriter and sole book-runner on behalf of itself and a syndicate of underwriters (collectively, the “Underwriters”), to purchase, on a bought deal basis, 27,750,000 common shares of the Company (the “Offered Shares”) at the price of US$0.83 per Offered Share (the “Issue Price”) for aggregate gross proceeds of approximately US$23.0 million (the “Offering”).

In addition, Taseko has agreed to grant to the Underwriters an over-allotment option exercisable, in whole or in part, in the sole discretion of the Underwriters, to purchase up to an additional 4,162,500 common shares (representing 15% of the total number of common shares comprised in the Offering) at the Issue Price for a period of up to 30 days after the closing of the Offering for potential gross proceeds of up to approximately US$3.5 million. The Company has agreed to pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering, including proceeds received from the exercise of the over-allotment option.

Taseko Mines Limited stock is now 68.75% up from its year-to-date (YTD) trading value. TGB Stock saw the intraday high of $0.85 and lowest of $0.79 per share. The company’s 52-week high price is 1.34, which means current price is +305.00% above from all time high which was touched on 09/18/20.

Compared to the average trading volume of 1.33M shares, TGB reached a trading volume of 11232700 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Taseko Mines Limited [TGB]?

Liberum have made an estimate for Taseko Mines Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 22, 2020. The new note on the price target was released on November 18, 2019, representing the official price target for Taseko Mines Limited stock.

The Average True Range (ATR) for Taseko Mines Limited is set at 0.08, with the Price to Sales ratio for TGB stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.25. Price to Free Cash Flow for TGB in the course of the last twelve months was 7.49 with Quick ratio for the last quarter at 1.20.

How has TGB stock performed recently?

Taseko Mines Limited [TGB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.45. With this latest performance, TGB shares dropped by -24.30% in over the last four-week period, additionally plugging by 135.26% over the last 6 months – not to mention a rise of 91.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TGB stock in for the last two-week period is set at 32.31, with the RSI for the last a single of trading hit 27.56, and the three-weeks RSI is set at 37.71 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.0570, while it was recorded at 0.9780 for the last single week of trading, and 0.6200 for the last 200 days.

Taseko Mines Limited [TGB]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Taseko Mines Limited [TGB] shares currently have an operating margin of -18.39 and a Gross Margin at -13.31. Taseko Mines Limited’s Net Margin is presently recorded at -16.20.

Return on Total Capital for TGB is now -8.80, given the latest momentum, and Return on Invested Capital for the company is -7.90. Return on Equity for this stock declined to -16.46, with Return on Assets sitting at -5.75. When it comes to the capital structure of this company, Taseko Mines Limited [TGB] has a Total Debt to Total Equity ratio set at 123.80. Additionally, TGB Total Debt to Total Capital is recorded at 55.32, with Total Debt to Total Assets ending up at 42.25. Long-Term Debt to Equity for the company is recorded at 118.34, with the Long-Term Debt to Total Capital now at 52.88.

Receivables Turnover for the company is 23.11 with a Total Asset Turnover recorded at a value of 0.36.Taseko Mines Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.80.

Earnings analysis for Taseko Mines Limited [TGB]

With the latest financial reports released by the company, Taseko Mines Limited posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TGB.

Insider trade positions for Taseko Mines Limited [TGB]

There are presently around $20 million, or 22.50% of TGB stock, in the hands of institutional investors. The top three institutional holders of TGB stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 7,015,437, which is approximately -16.767% of the company’s market cap and around 2.30% of the total institutional ownership; BENEFIT STREET PARTNERS LLC, holding 6,049,807 shares of the stock with an approximate value of $4.9 million in TGB stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $3.01 million in TGB stock with ownership of nearly -2.27% of the company’s market capitalization.

Positions in Taseko Mines Limited stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 17 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 5,437,015 shares. Additionally, 16 investors decreased positions by around 1,777,072 shares, while 24 investors held positions by with 17,436,673 shares. The mentioned changes placed institutional holdings at 24,650,760 shares, according to the latest SEC report filing. TGB stock had 6 new institutional investments in for a total of 1,245,154 shares, while 6 institutional investors sold positions of 193,301 shares during the same period.

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