FY2027 EPS Estimates for Taseko Mines Reduced by Analyst

Key Points

• Stifel Canada has lowered its FY2027 earnings per share (EPS) estimate for Taseko Mines from $0.37 to $0.35, with the current consensus estimate being $0.20 per share.
• Several research firms, including Wall Street Zen and TD Securities, have recently adjusted their ratings on Taseko Mines, with Wall Street Zen downgrading it to a "sell" rating.
• Taseko Mines stock opened at $3.33, with a market capitalization of $1.05 billion and varying performance metrics, including a 52-week low of $1.67 and a high of $3.67.

Taseko Mines Limited (NYSE:TGB - Free Report) - Investment analysts at Stifel Canada dropped their FY2027 earnings per share (EPS) estimates for shares of Taseko Mines in a report released on Monday, August 11th. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings per share of $0.35 for the year, down from their previous estimate of $0.37. The consensus estimate for Taseko Mines' current full-year earnings is $0.20 per share.

Several other equities research analysts also recently weighed in on the company. TD Securities downgraded Taseko Mines from a "strong-buy" rating to a "hold" rating and increased their price target for the stock from $3.50 to $5.00 in a research report on Wednesday, July 16th. BMO Capital Markets restated an "outperform" rating on shares of Taseko Mines in a research report on Friday, August 8th. Finally, Wall Street Zen cut Taseko Mines from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th.

Taseko Mines Stock Performance

TGB traded down $0.10 during midday trading on Wednesday, hitting $3.17. 4,679,700 shares of the company were exchanged, compared to its average volume of 10,171,856. The company's 50 day simple moving average is $3.19 and its 200 day simple moving average is $2.51. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -105.67 and a beta of 1.35. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 1.48. Taseko Mines has a 1-year low of $1.67 and a 1-year high of $3.67.

Institutional Investors Weigh In On Taseko Mines

Several institutional investors have recently bought and sold shares of TGB. L1 Capital Pty Ltd acquired a new stake in Taseko Mines in the 1st quarter worth about $28,243,000. JPMorgan Chase & Co. raised its position in shares of Taseko Mines by 261.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,019,297 shares of the company's stock valued at $12,661,000 after buying an additional 2,907,611 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Taseko Mines by 21.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,319,863 shares of the company's stock valued at $25,333,000 after buying an additional 2,018,397 shares during the period. Mackenzie Financial Corp raised its position in shares of Taseko Mines by 973.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company's stock valued at $5,070,000 after buying an additional 1,455,117 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Taseko Mines by 15.6% during the 4th quarter. Renaissance Technologies LLC now owns 6,676,370 shares of the company's stock valued at $12,952,000 after buying an additional 900,400 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

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.