Taseko Mines Limited [AMEX: TGB] closed the trading session at $1.91 on 04/16/21. The day’s price range saw the stock hit a low of $1.83, while the highest price level was $1.95. The company report on March 29, 2021 that Taseko Mines Extends Copper Price Protection Strategy.
Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (“Taseko” or the “Company”) announces that it has recently extended its copper price protection strategy by purchasing put options covering 41 million pounds of copper at a strike price of US$3.75 per pound for the second half of this year. The price protection now in place for the next nine months should secure a minimum operating margin of approximately C$165 million* for 2021.
Stuart McDonald, President of Taseko, commented, “With the uncertainty in the world around the impacts of Covid-19, and ongoing volatility in metal markets caused by a number of global economic and political issues, we felt that it was prudent to extend our price protection strategy. Protecting a significant operating margin in 2021 allows the Company to focus on and advance near-term capital growth plans related to our Florence Copper Project, and also fund ongoing Environmental Assessment work at our Yellowhead Project. This approach to managing copper price volatility does not cap our cash flow should copper prices continue to rise, as many of the world’s largest banks and trading entities are indicating could occur.”.
The stocks have a year to date performance of 44.70 percent and weekly performance of 4.37 percent. The stock has been moved at 78.50 percent over the last six months. The stock has performed 5.52 percent around the most recent 30 days and changed 40.44 percent over the most recent 3-months.
If compared to the average trading volume of 3.23M shares, TGB reached to a volume of 3154653 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 0.11, with the Price to Sales ratio for TGB stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 1.99, 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 16.26 with Quick ratio for the last quarter at 1.30.
TGB stock trade performance evaluation
Taseko Mines Limited [TGB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.37. With this latest performance, TGB shares gained by 5.52% in over the last four-week period, additionally plugging by 78.50% over the last 6 months – not to mention a rise of 559.08% 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 60.56, with the RSI for the last a single of trading hit 63.92, and the three-weeks RSI is set at 59.01 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.7238, while it was recorded at 1.8120 for the last single week of trading, and 1.1798 for the last 200 days.
Taseko Mines Limited [TGB]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Taseko Mines Limited [TGB] shares currently have an operating margin of -2.86 and a Gross Margin at +3.08. Taseko Mines Limited’s Net Margin is presently recorded at -7.09.
Return on Total Capital for TGB is now -1.40, given the latest momentum, and Return on Invested Capital for the company is -3.56. Return on Equity for this stock declined to -7.60, with Return on Assets sitting at -2.62. When it comes to the capital structure of this company, Taseko Mines Limited [TGB] has a Total Debt to Total Equity ratio set at 114.50. Additionally, TGB Total Debt to Total Capital is recorded at 53.38, with Total Debt to Total Assets ending up at 39.92. Long-Term Debt to Equity for the company is recorded at 108.95, with the Long-Term Debt to Total Capital now at 50.79.
Receivables Turnover for the company is 32.39 with a Total Asset Turnover recorded at a value of 0.37.Taseko Mines Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.00.
Earnings per share (EPS) analysis for Taseko Mines Limited [TGB] stock
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 Ownership positions
There are presently around $82 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 12,535,614, which is approximately 104.673% of the company’s market cap and around 2.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 7,946,234 shares of the stock with an approximate value of $15.18 million in TGB stocks shares; and CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., currently with $11.55 million in TGB stock with ownership of nearly 112.383% of the company’s market capitalization.
Positions in Taseko Mines Limited stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 35 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 18,565,881 shares. Additionally, 20 investors decreased positions by around 1,495,032 shares, while 19 investors held positions by with 22,958,313 shares. The mentioned changes placed institutional holdings at 43,019,226 shares, according to the latest SEC report filing. TGB stock had 14 new institutional investments in for a total of 4,841,118 shares, while 8 institutional investors sold positions of 417,556 shares during the same period.