Stifel Canada Cuts Earnings Estimates for Taseko Mines

Taseko Mines Ltd. (TSE:TKO) – Equities research analysts at Stifel Canada lowered their FY2024 EPS estimates for Taseko Mines in a research note issued to investors on Thursday, January 23rd. Stifel Canada analyst C. Mcgill now forecasts that the company will post earnings per share of $0.19 for the year, down from their previous forecast of $0.22. The consensus estimate for Taseko Mines’ current full-year earnings is $0.28 per share. Stifel Canada also issued estimates for Taseko Mines’ Q4 2024 earnings at $0.04 EPS and FY2025 earnings at $0.40 EPS.

Taseko Mines (TSE:TKO) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.03 earnings per share (EPS) for the quarter. Taseko Mines had a return on equity of 11.36% and a net margin of 8.05%. During the same period in the prior year, the firm posted $0.07 earnings per share.

Other analysts have also recently issued research reports about the stock. National Bank Financial upgraded shares of Taseko Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. National Bankshares upgraded shares of Taseko Mines from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from C$4.50 to C$4.25 in a research report on Tuesday, December 10th.

Taseko Mines Stock Performance

Shares of Taseko Mines stock opened at C$2.85 on Friday. The firm has a 50-day moving average of C$2.89 and a 200-day moving average of C$3.03. Taseko Mines has a 52-week low of C$1.81 and a 52-week high of C$4.20. The stock has a market cap of C$836.05 million, a PE ratio of 16.76 and a beta of 1.92.

Insider Buying and Selling

In other Taseko Mines news, Director Anu Dhir bought 44,000 shares of Taseko Mines stock in a transaction on Monday, January 13th. The shares were purchased at an average price of C$0.72 per share, with a total value of C$31,680.00. Also, Director Russell Edward Hallbauer purchased 100,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of C$2.83 per share, for a total transaction of C$283,000.00. 2.58% of the stock is owned by company insiders.

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.