Stifel Canada Increases Earnings Estimates for Taseko Mines

Key Points

• Stifel Canada raised its earnings estimates for Taseko Mines' FY2025 from $0.13 to $0.18 per share, reflecting increasing confidence in the company's financial performance.
• Taseko Mines stock has experienced a significant increase of 6.9%, opening at $3.39, with institutional investors holding 17.94% of the company's shares.
• Several analysts have recently altered their ratings on Taseko Mines, with TD Securities moving from a "strong-buy" to a "hold" and increasing the target price to $5.00.

Taseko Mines Limited (NYSE:TGB - Free Report) - Research analysts at Stifel Canada boosted their FY2025 earnings 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 of $0.18 per share for the year, up from their prior estimate of $0.13. The consensus estimate for Taseko Mines' current full-year earnings is $0.20 per share. Stifel Canada also issued estimates for Taseko Mines' FY2028 earnings at $0.37 EPS.

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

Taseko Mines Stock Up 6.9%

Shares of Taseko Mines stock opened at $3.39 on Thursday. The company's fifty day simple moving average is $3.17 and its two-hundred day simple moving average is $2.49. The company has a market cap of $1.07 billion, a P/E ratio of -113.00 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 12-month low of $1.67 and a 12-month high of $3.67.

Hedge Funds Weigh In On Taseko Mines

A number of hedge funds have recently bought and sold shares of the company. Walleye Capital LLC bought a new position in Taseko Mines in the 2nd quarter worth about $346,000. Mackenzie Financial Corp boosted its stake in Taseko Mines by 973.6% in the 2nd quarter. Mackenzie Financial Corp now owns 1,604,572 shares of the company's stock worth $5,070,000 after purchasing an additional 1,455,117 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Taseko Mines by 321.7% in the 2nd quarter. Quadrature Capital Ltd now owns 532,236 shares of the company's stock worth $1,682,000 after purchasing an additional 406,036 shares in the last quarter. Aristides Capital LLC bought a new position in Taseko Mines in the 2nd quarter worth about $346,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Taseko Mines in the 2nd quarter worth about $52,000. Institutional investors own 17.94% of the company's stock.

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.

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