Taseko Mines (TSE:TKO) Posts Earnings Results

Taseko Mines (TSE:TKO) posted its earnings results on Thursday. The company reported C($0.09) earnings per share (EPS) for the quarter, FiscalAI reports. Taseko Mines had a net margin of 12.69% and a return on equity of 16.33%. The firm had revenue of C$173.91 million during the quarter.

Taseko Mines Price Performance

Shares of Taseko Mines stock traded down C$0.08 during trading hours on Friday, hitting C$5.85. The company’s stock had a trading volume of 353,448 shares, compared to its average volume of 640,930. The company has a market capitalization of C$2.10 billion, a PE ratio of -58.50 and a beta of 1.88. The stock has a 50 day moving average of C$5.69 and a 200 day moving average of C$4.55. Taseko Mines has a 12 month low of C$2.38 and a 12 month high of C$6.73.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TKO. TD Securities upgraded shares of Taseko Mines from a “hold” rating to a “buy” rating and increased their target price for the company from C$5.00 to C$6.50 in a research note on Thursday, October 23rd. National Bankshares raised their target price on Taseko Mines from C$6.25 to C$7.25 in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$6.33.

Insider Buying and Selling at Taseko Mines

In related news, Director Russell Edward Hallbauer sold 30,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of C$5.89, for a total value of C$176,700.00. Following the completion of the transaction, the director directly owned 1,802,750 shares of the company’s stock, valued at approximately C$10,618,197.50. This represents a 1.64% decrease in their position. Also, insider Robert John Rotzinger sold 150,000 shares of Taseko Mines stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of C$5.07, for a total value of C$759,750.00. Following the completion of the sale, the insider directly owned 131,958 shares in the company, valued at approximately C$668,367.27. This represents a 53.20% decrease in their position. Insiders sold a total of 184,500 shares of company stock worth $963,000 over the last ninety days. 2.58% of the stock is currently owned by insiders.

Taseko Mines Company Profile

Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.