Taseko Mines Ltd. [AMEX: TGB] surged by $0.19 during the normal trading session on while it closed the day at $1.91. The company report on March 7, 2024 at 7:20 PM that Taseko Reports Strong Fourth Quarter Financial Performance and $190 Million of Adjusted EBITDA for 2023.
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 87.5% 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 full year 2023 Adjusted EBITDA* of $190 million and Earnings from mining operations before depletion and amortization* of $207 million. Revenues for 2023 were $525 million, 34% higher than the prior year as a result of improved copper production and an increase in the Company’s effective interest in the Gibraltar Mine, from 75% to 87.5%, in March 2023. Net income for the year was $83 million ($0.29 per share) and Adjusted net earnings* were $44 million ($0.15 per share).
Taseko Mines Ltd. stock has also gained 18.63% of its value over the past 7 days. However, TGB stock has inclined by 56.56% in the 3 months of the year. Over the past six months meanwhile, it has gained 43.61% and gained 36.43% year-on date.
The market cap for TGB stock reached $551.47 million, with 290.00 million shares outstanding and 279.75 million shares in the current float. Compared to the average trading volume of 1.25M shares, TGB reached a trading volume of 4817413 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 Ltd. [TGB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TGB shares is $2.28 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 1.33. 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 Ltd. 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 Ltd. stock.
The Average True Range (ATR) for Taseko Mines Ltd. is set at 0.09, with the Price to Sales ratio for TGB stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 1.68, with the Price to Cash per share for the same quarter was set at 0.26.
TGB stock trade performance evaluation
Taseko Mines Ltd. [TGB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.63. With this latest performance, TGB shares gained by 34.51% in over the last four-week period, additionally plugging by 43.61% over the last 6 months – not to mention a rise of 25.66% 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 71.98, with the RSI for the last a single of trading hit 75.59, and the three-weeks RSI is set at 68.83 for Taseko Mines Ltd. [TGB]. The present Moving Average for the last 50 days of trading for this stock 1.4702, while it was recorded at 1.7620 for the last single week of trading, and 1.3563 for the last 200 days.
Taseko Mines Ltd. [TGB]: An insightful look at the core fundamentals
Taseko Mines Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.77.
Earnings per share (EPS) analysis for Taseko Mines Ltd. [TGB] stock
With the latest financial reports released by the company, Taseko Mines Ltd. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. 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 Ltd. [TGB]: Institutional Ownership
The top three institutional holders of TGB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TGB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TGB stock with ownership which is approximately 5.8325%.
