Taseko Mines Limited [AMEX: TGB] jumped around 0.11 points on Thursday, while shares priced at $1.25 at the close of the session, up 9.65%. The company report on January 28, 2021 that Taseko Announces Upsizing and Pricing of Senior Secured Notes Offering.
Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (“Taseko”) announced that it has upsized and priced an offering of US$400 million aggregate principal amount of Senior Secured Notes due 2026 (the “Notes”), an upsize of US$75 million over the amount previously announced. Interest on the Notes will accrue at an annual rate of 7.0% payable semi-annually, and the Notes will be issued at par. The offering is expected to close on February 10, 2021, subject to customary closing conditions.
Taseko intends to use the net proceeds from this offering, together with cash on hand, to redeem all US$250 million aggregate principal amount outstanding of its 8.75% Senior Secured Notes due 2022 (the “Existing Notes”) (including accrued interest), to make capital expenditures, including at its Florence Copper project and Gibraltar mine, as working capital, for general corporate purposes and to pay fees and expenses in connection with this offering.
Taseko Mines Limited stock is now -5.30% down from its year-to-date (YTD) trading value. TGB Stock saw the intraday high of $1.33 and lowest of $1.21 per share. The company’s 52-week high price is 1.47, which means current price is +16.82% above from all time high which was touched on 01/08/21.
Compared to the average trading volume of 2.24M shares, TGB reached a trading volume of 3741014 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGB shares is $2.03 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TGB stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 0.10, with the Price to Sales ratio for TGB stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 1.36, 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 13.76 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 -6.02. With this latest performance, TGB shares dropped by -4.58% in over the last four-week period, additionally plugging by 83.61% over the last 6 months – not to mention a rise of 160.42% 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 48.15, with the RSI for the last a single of trading hit 45.74, and the three-weeks RSI is set at 50.31 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.1774, while it was recorded at 1.2300 for the last single week of trading, and 0.8308 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 $32 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 $7.33 million in TGB stocks shares; and ACADIAN ASSET MANAGEMENT LLC, currently with $4.64 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 February and at the time of the February reporting period, where 31 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 5,862,725 shares. Additionally, 12 investors decreased positions by around 1,444,970 shares, while 24 investors held positions by with 18,676,568 shares. The mentioned changes placed institutional holdings at 25,984,263 shares, according to the latest SEC report filing. TGB stock had 19 new institutional investments in for a total of 2,797,582 shares, while 4 institutional investors sold positions of 120,338 shares during the same period.