FY2024 EPS Estimates for Taseko Mines Lowered by Analyst

Taseko Mines Limited (NYSE:TGB - Free Report) - Stifel Canada cut their FY2024 EPS estimates for Taseko Mines in a research note issued to investors on Tuesday, October 15th. Stifel Canada analyst C. Mcgill now expects that the company will post earnings of $0.16 per share for the year, down from their previous forecast of $0.19. The consensus estimate for Taseko Mines' current full-year earnings is $0.18 per share.

Taseko Mines (NYSE:TGB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.10. The business had revenue of $100.66 million during the quarter, compared to analyst estimates of $88.01 million. Taseko Mines had a net margin of 13.07% and a return on equity of 18.82%.

Taseko Mines Stock Performance

TGB stock traded up $0.02 during midday trading on Friday, reaching $2.40. The company had a trading volume of 2,640,177 shares, compared to its average volume of 2,755,996. The firm has a market capitalization of $700.25 million, a PE ratio of 9.98 and a beta of 1.74. The stock has a 50 day moving average price of $2.29 and a 200 day moving average price of $2.40. Taseko Mines has a fifty-two week low of $1.05 and a fifty-two week high of $3.15. The company has a quick ratio of 1.34, a current ratio of 2.09 and a debt-to-equity ratio of 1.57.

Hedge Funds Weigh In On Taseko Mines

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of Taseko Mines by 14.7% during the second quarter. Renaissance Technologies LLC now owns 5,904,270 shares of the company's stock worth $14,465,000 after buying an additional 755,192 shares during the period. Tidal Investments LLC acquired a new position in Taseko Mines during the 1st quarter worth $3,508,000. Millennium Management LLC grew its stake in shares of Taseko Mines by 11.3% in the second quarter. Millennium Management LLC now owns 1,349,795 shares of the company's stock worth $3,315,000 after purchasing an additional 136,932 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Taseko Mines by 5.3% during the second quarter. Bank of Montreal Can now owns 796,458 shares of the company's stock valued at $2,131,000 after purchasing an additional 40,053 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Taseko Mines by 752.2% in the second quarter. American Century Companies Inc. now owns 703,954 shares of the company's stock worth $1,734,000 after purchasing an additional 621,352 shares during the period. Institutional investors own 17.94% of the company's stock.

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.