FY2024 EPS Estimate for Taseko Mines Reduced by Analyst

Taseko Mines Limited (NYSE:TGB - Free Report) - Research analysts at National Bank Financial lowered their FY2024 earnings per share estimates for Taseko Mines in a note issued to investors on Monday, December 9th. National Bank Financial analyst S. Nagle now forecasts that the company will post earnings of $0.13 per share for the year, down from their previous estimate of $0.15. National Bank Financial currently has a "Outperform" rating on the stock. The consensus estimate for Taseko Mines' current full-year earnings is $0.16 per share. National Bank Financial also issued estimates for Taseko Mines' FY2026 earnings at $0.23 EPS and FY2027 earnings at $0.50 EPS.

Separately, StockNews.com upgraded shares of Taseko Mines from a "sell" rating to a "hold" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Taseko Mines currently has a consensus rating of "Buy" and an average price target of $3.50.

Taseko Mines Price Performance

Shares of NYSE TGB traded down $0.08 during midday trading on Thursday, hitting $2.09. 2,145,922 shares of the company's stock were exchanged, compared to its average volume of 2,985,683. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. The business's fifty day moving average price is $2.23 and its two-hundred day moving average price is $2.29. The company has a market cap of $634.93 million, a price-to-earnings ratio of 10.97 and a beta of 1.72. Taseko Mines has a 12-month low of $1.14 and a 12-month high of $3.15.

Taseko Mines (NYSE:TGB - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Taseko Mines had a return on equity of 15.25% and a net margin of 12.69%. The business had revenue of $114.08 million for the quarter, compared to analysts' expectations of $112.48 million.

Hedge Funds Weigh In On Taseko Mines

Several institutional investors have recently modified their holdings of TGB. Quantinno Capital Management LP purchased a new stake in Taseko Mines in the third quarter worth approximately $38,000. SG Americas Securities LLC bought a new stake in shares of Taseko Mines in the 3rd quarter worth approximately $38,000. Ballentine Partners LLC purchased a new stake in shares of Taseko Mines in the 3rd quarter valued at $42,000. Capstone Investment Advisors LLC purchased a new stake in shares of Taseko Mines in the 3rd quarter valued at $56,000. Finally, Signaturefd LLC grew its holdings in shares of Taseko Mines by 21.9% during the 3rd quarter. Signaturefd LLC now owns 46,808 shares of the company's stock valued at $118,000 after purchasing an additional 8,397 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

Taseko Mines Company Profile

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. It explores for copper, molybdenum, gold, niobium, and silver deposits. The company's principal asset comprises 100% interest owned the Gibraltar mine located in British Columbia. It also holds interest in the Yellowhead copper project, the Aley niobium project, and the New Prosperity gold and copper project located in British Columbia; and the Florence copper project located in Arizona.