Taseko Mines Limited [TGB] Revenue clocked in at $342.30 million, down -41.95% YTD: What’s Next?

Taseko Mines Limited [AMEX: TGB] traded at a high on 08/15/22, posting a 9.17 gain after which it closed the day’ session at $1.19. The company report on August 15, 2022 that TASEKO MINES: EPA ISSUES DRAFT PERMIT FOR FLORENCE COPPER PROJECT.


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Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) (“Taseko” or the “Company”) is pleased to announce the U.S. Environmental Protection Agency (“EPA”) has publicly issued a draft Underground Injection Control (“UIC”) permit for its Florence Copper Project. The EPA has stated that the public comment period for the draft federal permit will last 45 days, ending on September 29, with a virtual public hearing to be held on September 15.

Stuart McDonald, Taseko’s President and CEO, commented, “The UIC permit is the final key permit required for the construction and operation of the Florence Copper commercial facility. Our project has gone through extensive scrutiny by both the Arizona Department of Environmental Quality and the EPA over the past eight years and we are confident that the rigorous work completed by both these regulatory bodies will result in permitting success in the coming months.”.

The results of the trading session contributed to over 7202525 shares changing hands. Over the past one week, the price volatility of Taseko Mines Limited stands at 8.96% while the volatility over the past one month is 6.86%.

The market cap for TGB stock reached $357.33 million, with 286.35 million shares outstanding and 276.72 million shares in the current float. Compared to the average trading volume of 1.57M shares, TGB reached a trading volume of 7202525 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]?

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 0.08, with the Price to Sales ratio for TGB stock in the period of the last 12 months amounting to 1.04. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.46. Price to Free Cash Flow for TGB in the course of the last twelve months was 3.02 with Quick ratio for the last quarter at 1.90.

How has TGB stock performed recently?

Taseko Mines Limited [TGB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.31. With this latest performance, TGB shares gained by 30.41% in over the last four-week period, additionally sinking by -39.59% over the last 6 months – not to mention a drop of -33.15% 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 57.00, with the RSI for the last a single of trading hit 61.32, and the three-weeks RSI is set at 52.76 for Taseko Mines Limited [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.1522, while it was recorded at 1.1200 for the last single week of trading, and 1.7843 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 1.90 and a Current Ratio set at 2.40.

Insider trade positions for Taseko Mines Limited [TGB]

There are presently around $74 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 9,855,015, which is approximately -0.405% of the company’s market cap and around 2.30% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 7,182,014 shares of the stock with an approximate value of $8.55 million in TGB stocks shares; and BLACKROCK INC., currently with $8.38 million in TGB stock with ownership of nearly 185.652% of the company’s market capitalization.

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 36 institutional holders increased their position in Taseko Mines Limited [AMEX:TGB] by around 8,258,410 shares. Additionally, 36 investors decreased positions by around 16,776,629 shares, while 29 investors held positions by with 37,203,384 shares. The mentioned changes placed institutional holdings at 62,238,423 shares, according to the latest SEC report filing. TGB stock had 17 new institutional investments in for a total of 1,279,124 shares, while 11 institutional investors sold positions of 4,035,898 shares during the same period.

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