Taseko Mines Limited [AMEX: TGB] traded at a low on 05/05/22, posting a -4.76 loss after which it closed the day’ session at $1.80. The company report on May 4, 2022 that TASEKO REPORTS $52 MILLION OF CASH FLOW FROM OPERATIONS FOR FIRST QUARTER 2022.
This release should be read with the Company’s Financial Statements and Management Discussion & Analysis (“MD&A”), available at www.tasekomines.com and filed on www.sedar.com. Except where otherwise noted, all currency amounts are stated in Canadian dollars. Taseko’s 75% owned Gibraltar Mine is located north of the City of Williams Lake in south-central British Columbia. Production and sales volumes stated in this release are on a 100% basis unless otherwise indicated. .
Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (“Taseko” or the “Company”) reports Adjusted EBITDA* of $38 million for the first quarter 2022, a 61% increase over the same period 2021. Earnings from mining operations before depletion* was $43 million and Cash flows provided by operations was $52 million for the quarter. Adjusted net income* was $6 million, or $0.02 per share.
The results of the trading session contributed to over 3233715 shares changing hands. Over the past one week, the price volatility of Taseko Mines Limited stands at 6.86% while the volatility over the past one month is 5.45%.
The market cap for TGB stock reached $530.59 million, with 284.17 million shares outstanding and 275.23 million shares in the current float. Compared to the average trading volume of 2.02M shares, TGB reached a trading volume of 3233715 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 $2.76 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 2.00. 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.
Stifel have made an estimate for Taseko Mines Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 19, 2022. The new note on the price target was released on December 16, 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 1.57. The Price to Book ratio for the last quarter was 1.82, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for TGB in the course of the last twelve months was 4.63 with Quick ratio for the last quarter at 2.50.
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 -9.55. With this latest performance, TGB shares dropped by -21.74% in over the last four-week period, additionally sinking by -19.64% over the last 6 months – not to mention a drop of -17.05% 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 34.35, with the RSI for the last a single of trading hit 30.09, and the three-weeks RSI is set at 38.03 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 2.1030, while it was recorded at 1.8640 for the last single week of trading, and 1.9940 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 +31.85 and a Gross Margin at +37.09. Taseko Mines Limited’s Net Margin is presently recorded at +8.52.
Return on Equity for this stock inclined to 10.79, with Return on Assets sitting at 3.48.
Taseko Mines Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 3.30.
Insider trade positions for Taseko Mines Limited [TGB]
There are presently around $117 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 11,003,722, which is approximately -3.509% of the company’s market cap and around 2.30% of the total institutional ownership; CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD., holding 7,387,240 shares of the stock with an approximate value of $13.96 million in TGB stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $12.61 million in TGB stock with ownership of nearly 12.457% 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 40 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 8,062,079 shares. Additionally, 27 investors decreased positions by around 5,238,822 shares, while 29 investors held positions by with 48,789,372 shares. The mentioned changes placed institutional holdings at 62,090,273 shares, according to the latest SEC report filing. TGB stock had 23 new institutional investments in for a total of 5,120,795 shares, while 7 institutional investors sold positions of 317,814 shares during the same period.