Taseko Mines Limited [TGB] gain 189.58% so far this year. What now?

Taseko Mines Limited [AMEX: TGB] stock went on an upward path that rose over 13.01% on Thursday, amounting to a one-week price increase of more than 23.01%. The company report on December 9, 2020 that Taseko Mines: Florence Copper Receives Aquifer Protection Permit.

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Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (“Taseko” or the “Company”) is pleased to announce that the Arizona Department of Environmental Quality (“ADEQ”) has granted its Florence Copper Project the Aquifer Protection Permit (“APP”).

Russell Hallbauer, Chief Executive Officer and Director of Taseko, commented, “This is a key milestone in the advancement of the Company’s next operating asset. By issuing this permit, the ADEQ has endorsed the environmental integrity of our project and is confident that the commercial operation will meet all state environmental laws and regulations. The US Environmental Protection Agency (“EPA”) continues to advance their permitting process and our expectation is that the Underground Injection Control Permit will be issued in early 2021. With construction anticipated to commence in 2021, the timing could not be better with copper being highlighted as the metal of the future as the world aggressively transitions to a green economy.”.

Over the last 12 months, TGB stock rose by 221.31%. The average equity rating for TGB stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $390.97 million, with 246.41 million shares outstanding and 237.62 million shares in the current float. Compared to the average trading volume of 1.79M shares, TGB stock reached a trading volume of 3954876 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Taseko Mines Limited [TGB]:

TD Securities have made an estimate for Taseko Mines Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 16, 2020. The new note on the price target was released on May 22, 2020, 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 1.44. The Price to Book ratio for the last quarter was 1.51, with the Price to Cash per share for the same quarter was set at 0.21. Price to Free Cash Flow for TGB in the course of the last twelve months was 14.98 with Quick ratio for the last quarter at 1.20.

TGB Stock Performance Analysis:

Taseko Mines Limited [TGB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.01. With this latest performance, TGB shares gained by 67.47% in over the last four-week period, additionally plugging by 192.02% over the last 6 months – not to mention a rise of 221.31% 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 78.18, with the RSI for the last a single of trading hit 85.59, and the three-weeks RSI is set at 72.17 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.0145, while it was recorded at 1.2120 for the last single week of trading, and 0.6891 for the last 200 days.

Insight into Taseko Mines Limited 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.

TGB Stock EPS

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.

Taseko Mines Limited [TGB] Insider Position Details

There are presently around $36 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 $8.14 million in TGB stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $5.16 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 5,826,839 shares. Additionally, 14 investors decreased positions by around 1,466,990 shares, while 23 investors held positions by with 18,661,548 shares. The mentioned changes placed institutional holdings at 25,955,377 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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