Taseko Mines (TSE:TKO) Posts Earnings Results

Taseko Mines (TSE:TKO) issued its quarterly earnings results on Thursday. The company reported C$0.11 earnings per share for the quarter, FiscalAI reports. Taseko Mines had a return on equity of 2.27% and a net margin of 2.00%.The company had revenue of C$330.55 million during the quarter.

Here are the key takeaways from Taseko Mines’ conference call:

• Strong Q2 financial performance: Revenue reached a record CAD 331 million, while operating cash flow was CAD 183 million and adjusted EBITDA was CAD 125 million, supported by copper prices above CAD 6 per pound and strong molybdenum credits.
• Florence ramp-up is progressing: The operation produced more than 5 million pounds of cathode in its first full production quarter, generated approximately CAD 10 million of EBITDA, and remains targeted for 30–35 million pounds this year and plant capacity by year-end.
• Gibraltar and commercial terms remain supportive: Gibraltar produced 30 million pounds of copper for the third consecutive quarter, remains on track for annual guidance of 110–115 million pounds, and has contracted 2027 treatment charges at an unusually favorable average of approximately negative CAD 140 per tonne.
• Costs and capital spending remain elevated: Gibraltar faces inflation in fuel, explosives, parts and equipment, while sustaining capital spending was CAD 48 million in the first half and is expected to remain high due largely to tailings-storage and water-management upgrades.
• Several operational and market risks remain: Gibraltar expects lower grades and recoveries later this year as it enters more challenging transitional ore, Florence’s current C1 cost of US$4.72 per pound is temporarily high during ramp-up, and sulfuric-acid pricing is expected to increase in 2027.

Taseko Mines Trading Up 0.5%

TKO stock traded up C$0.06 during midday trading on Friday, hitting C$11.64. The stock had a trading volume of 1,535,951 shares, compared to its average volume of 1,347,518. The firm has a market cap of C$4.26 billion, a P/E ratio of 232.80 and a beta of 1.86. Taseko Mines has a 1-year low of C$4.19 and a 1-year high of C$12.47. The business has a fifty day moving average price of C$10.06 and a two-hundred day moving average price of C$10.07.

Wall Street Analyst Weigh In

Separately, National Bank Financial upped their target price on Taseko Mines from C$12.00 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$13.17.

Insiders Place Their Bets

In other news, insider Bryce Hamming sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of C$11.00, for a total value of C$550,000.00. Following the transaction, the insider directly owned 120,000 shares of the company’s stock, valued at C$1,320,000. The trade was a 29.41% decrease in their position. Also, insider Terry James Morris bought 11,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average price of C$8.97 per share, for a total transaction of C$98,670.00. Following the transaction, the insider owned 11,000 shares in the company, valued at C$98,670. This represents a ∞ increase in their ownership of the stock. In the last ninety days, insiders acquired 93,000 shares of company stock worth $325,590. Company insiders own 2.58% of the company’s stock.

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.