Taseko Mines Limited Expected to Earn Q2 2024 Earnings of $0.01 Per Share (NYSE:TGB)

Taseko Mines Limited (NYSE:TGB) – Investment analysts at National Bank Financial reduced their Q2 2024 earnings estimates for shares of Taseko Mines in a note issued to investors on Thursday, May 2nd. National Bank Financial analyst S. Nagle now forecasts that the company will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. The consensus estimate for Taseko Mines’ current full-year earnings is $0.12 per share. National Bank Financial also issued estimates for Taseko Mines’ Q3 2024 earnings at $0.01 EPS, FY2024 earnings at $0.06 EPS and FY2025 earnings at $0.14 EPS.

Taseko Mines (NYSE:TGB) last announced its earnings results on Thursday, March 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Taseko Mines had a net margin of 17.37% and a return on equity of 11.98%. The company had revenue of $112.90 million for the quarter.

A number of other equities research analysts also recently issued reports on the stock. TD Securities upped their price objective on shares of Taseko Mines from $3.25 to $3.50 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. TheStreet raised Taseko Mines from a “d” rating to a “c” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus assumed coverage on Taseko Mines in a report on Tuesday, March 26th. They set a “buy” rating on the stock.

Taseko Mines Stock Performance

Shares of TGB stock opened at $2.41 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.77 and a quick ratio of 0.90. The firm has a 50-day moving average of $2.13 and a 200-day moving average of $1.60. Taseko Mines has a one year low of $1.05 and a one year high of $2.71. The company has a market cap of $700.61 million, a P/E ratio of 10.04 and a beta of 1.91.

Institutional Investors Weigh In On Taseko Mines

A number of hedge funds have recently modified their holdings of TGB. Cahaba Wealth Management Inc. boosted its position in Taseko Mines by 38.2% during the fourth quarter. Cahaba Wealth Management Inc. now owns 36,134 shares of the company’s stock worth $51,000 after purchasing an additional 9,980 shares during the period. Aigen Investment Management LP bought a new stake in Taseko Mines during the 3rd quarter valued at $28,000. Private Wealth Management Group LLC purchased a new stake in shares of Taseko Mines during the fourth quarter worth $38,000. Mackenzie Financial Corp bought a new position in shares of Taseko Mines in the fourth quarter worth $102,000. Finally, Acuitas Investments LLC boosted its holdings in shares of Taseko Mines by 29.8% in the third quarter. Acuitas Investments LLC now owns 1,574,844 shares of the company’s stock worth $2,000,000 after acquiring an additional 361,227 shares during the period. 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.