Taseko Mines Limited (NYSE:TGB) Forecasted to Post FY2024 Earnings of $0.07 Per Share

Taseko Mines Limited (NYSE:TGB - Free Report) - Stock analysts at National Bank Financial raised their FY2024 EPS estimates for shares of Taseko Mines in a research report issued to clients and investors on Sunday, June 9th. National Bank Financial analyst S. Nagle now expects that the company will post earnings per share of $0.07 for the year, up from their previous forecast of $0.06. The consensus estimate for Taseko Mines' current full-year earnings is $0.13 per share. National Bank Financial also issued estimates for Taseko Mines' FY2025 earnings at $0.17 EPS and FY2026 earnings at $0.32 EPS.

Taseko Mines (NYSE:TGB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.02. Taseko Mines had a net margin of 17.37% and a return on equity of 11.44%. The company had revenue of $109.00 million during the quarter, compared to the consensus estimate of $91.89 million.

TGB has been the subject of several other reports. TheStreet raised shares of Taseko Mines from a "d" rating to a "c" rating in a research note on Thursday, March 14th. TD Securities boosted their price target on shares of Taseko Mines from $3.25 to $3.50 and gave the stock a "buy" rating in a research note on Tuesday, March 26th. Finally, Stifel Nicolaus initiated coverage on shares of Taseko Mines in a research note on Tuesday, March 26th. They issued a "buy" rating for the company.

Taseko Mines Price Performance

Shares of NYSE TGB traded up $0.03 during mid-day trading on Wednesday, reaching $2.34. 2,387,914 shares of the company were exchanged, compared to its average volume of 2,617,678. Taseko Mines has a 52 week low of $1.05 and a 52 week high of $3.15. The company has a quick ratio of 1.11, a current ratio of 1.97 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $682.11 million, a PE ratio of 9.75 and a beta of 1.79. The company's 50 day moving average price is $2.57 and its 200 day moving average price is $1.89.

Hedge Funds Weigh In On Taseko Mines

Hedge funds and other institutional investors have recently modified their holdings of the company. Aigen Investment Management LP bought a new position in Taseko Mines in the third quarter worth about $28,000. Private Wealth Management Group LLC bought a new position in Taseko Mines in the fourth quarter worth about $38,000. Cahaba Wealth Management Inc. raised its stake in Taseko Mines by 38.2% in the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company's stock worth $51,000 after buying an additional 9,980 shares in the last quarter. Mackenzie Financial Corp bought a new position in Taseko Mines in the fourth quarter worth about $102,000. Finally, Quantbot Technologies LP bought a new position in Taseko Mines in the first quarter worth about $307,000. 17.94% of the stock is owned by institutional investors.

About Taseko Mines

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.