TD Securities lifts Taseko Mines Limited [TGB] price estimate. Who else is bullish?

Taseko Mines Limited [AMEX: TGB] plunged by -$0.08 during the normal trading session on Friday and reaching a high of $1.83 during the day while it closed the day at $1.75. The company report on July 12, 2021 that Taseko Mines Sells Harmony Gold Project.

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Taseko Mines Limited (TSX: TKO) (NYSE MKT: TGB) (LSE: TKO) (“Taseko” or the “Company”) is pleased to announce that it has entered into an agreement to sell the Harmony Gold Project (“Harmony” or the “Project”) to JDS Gold Inc. (“JDS”), a newly incorporated company controlled by JDS Energy & Mining Inc. and affiliates. Under the terms of the agreement, JDS will become the owner and operator of the Harmony Gold Project, a high-grade development-stage gold project located on Graham Island in Haida Gwaii.

Taseko will retain a 15% carried interest in JDS and a 2% net smelter return royalty on the Project. Taseko also has the right to terminate the agreement and revert to 100% ownership of Harmony in the event JDS does not achieve certain project development milestones and an IPO or other liquidity event within an agreed timeframe. Closing of the transaction remains subject to customary terms and conditions.

Taseko Mines Limited stock has also loss -10.71% of its value over the past 7 days. However, TGB stock has declined by -8.38% in the 3 months of the year. Over the past six months meanwhile, it has gained 28.68% and gained 32.58% year-on date.

The market cap for TGB stock reached $518.59 million, with 282.85 million shares outstanding and 272.38 million shares in the current float. Compared to the average trading volume of 2.47M shares, TGB reached a trading volume of 3074085 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 1.77. The Price to Book ratio for the last quarter was 2.03, with the Price to Cash per share for the same quarter was set at 0.53. Price to Free Cash Flow for TGB in the course of the last twelve months was 19.79 with Quick ratio for the last quarter at 3.10.

TGB stock trade performance evaluation

Taseko Mines Limited [TGB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.71. With this latest performance, TGB shares dropped by -17.84% in over the last four-week period, additionally plugging by 28.68% over the last 6 months – not to mention a rise of 208.48% 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 32.79, with the RSI for the last a single of trading hit 27.94, and the three-weeks RSI is set at 37.01 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 2.2122, while it was recorded at 1.8700 for the last single week of trading, and 1.6030 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.

Reflecting on the efficiency of the workforce at the company, Taseko Mines Limited [TGB] managed to generate an average of -$29,777 per employee. 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 3.10 and a Current Ratio set at 3.70.

Taseko Mines Limited [TGB]: Insider Ownership positions

There are presently around $91 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 11,693,811, which is approximately -6.715% of the company’s market cap and around 2.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 9,031,075 shares of the stock with an approximate value of $15.8 million in TGB stocks shares; and CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., currently with $11.57 million in TGB stock with ownership of nearly 9.36% 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 August and at the time of the August reporting period, where 37 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 10,871,967 shares. Additionally, 24 investors decreased positions by around 1,836,992 shares, while 19 investors held positions by with 39,268,442 shares. The mentioned changes placed institutional holdings at 51,977,401 shares, according to the latest SEC report filing. TGB stock had 15 new institutional investments in for a total of 4,616,747 shares, while 8 institutional investors sold positions of 665,648 shares during the same period.

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