Taseko Mines Limited [TGB] is 85.08% higher this YTD. Is it still time to buy?

Taseko Mines Limited [AMEX: TGB] gained 4.64% or 0.04 points to close at $0.89 with a heavy trading volume of 1634657 shares. The company report on November 17, 2020 that Taseko Announces Closing of US$23 Million Bought Deal Over-Allotment Option Exercised in Full.

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Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (“Taseko” or the “Company”) announces that it has closed its previously announced bought deal offering, (the “Offering”). A total of 27,750,000 common shares of the Company were sold at the price of US$0.83 per Offered Share for gross proceeds of approximately US$23 million. The Offering was completed pursuant to an underwriting agreement dated November 11, 2020 among the Company and Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, and a syndicate of underwriters including Velocity Trade Capital Ltd., BMO Nesbitt Burns Inc., National Bank Financial Inc. and TD Securities Inc. (collectively, the “Underwriters”).

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In addition, the Underwriters have exercised the over-allotment option in full, with closing expected to be completed on November 17, 2020. The Company will issue an additional 4,162,500 common shares for additional proceeds of approximately US$3.45 million.

It opened the trading session at $0.85, the shares rose to $0.90 and dropped to $0.83, the range by which the price of stock traded the whole day. The daily chart for TGB points out that the company has recorded 123.72% gains over the past six months. However, it is still -345.0% lower than its most recent low trading price.

If we look at the average trading volume of 1.65M shares, TGB reached to a volume of 1634657 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 0.07, with the Price to Sales ratio for TGB stock in the period of the last 12 months amounting to 0.79. The Price to Book ratio for the last quarter was 1.00, 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 8.20 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for TGB stock

Taseko Mines Limited [TGB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.80. With this latest performance, TGB shares dropped by -14.58% in over the last four-week period, additionally plugging by 123.72% over the last 6 months – not to mention a rise of 115.74% 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 46.35, with the RSI for the last a single of trading hit 50.03, and the three-weeks RSI is set at 45.94 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.0124, while it was recorded at 0.8367 for the last single week of trading, and 0.6369 for the last 200 days.

Taseko Mines Limited [TGB]: A deeper dive into fundamental analysis

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.

Taseko Mines Limited [TGB]: An earnings per share (EPS) analysis

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.

An analysis of insider ownership at Taseko Mines Limited [TGB]

There are presently around $23 million, or 22.50% of TGB stock, in the hands of institutional investors. The top three institutional holders of TGB stocks are: BENEFIT STREET PARTNERS LLC with ownership of 6,124,707, which is approximately 1.238% of the company’s market cap and around 2.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 5,859,637 shares of the stock with an approximate value of $5.2 million in TGB stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $3.3 million in TGB stock with ownership of nearly -2.27% of the company’s market capitalization.

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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 28 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 5,897,344 shares. Additionally, 14 investors decreased positions by around 1,466,990 shares, while 23 investors held positions by with 18,553,752 shares. The mentioned changes placed institutional holdings at 25,918,086 shares, according to the latest SEC report filing. TGB stock had 16 new institutional investments in for a total of 2,761,696 shares, while 4 institutional investors sold positions of 120,338 shares during the same period.

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