Taseko Mines Limited (NYSEAMERICAN:TGB) Expected to Post FY2022 Earnings of $0.24 Per Share

Taseko Mines Limited (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) – Analysts at National Bank Financial decreased their FY2022 earnings estimates for shares of Taseko Mines in a report issued on Monday, April 18th. National Bank Financial analyst S. Nagle now expects that the mining company will earn $0.24 per share for the year, down from their previous estimate of $0.28. National Bank Financial also issued estimates for Taseko Mines’ FY2023 earnings at $0.26 EPS.

Taseko Mines (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) last announced its quarterly earnings data on Tuesday, February 22nd. The mining company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Taseko Mines had a return on equity of 13.48% and a net margin of 8.46%. The business had revenue of $81.69 million during the quarter.

TGB has been the subject of several other reports. Zacks Investment Research upgraded Taseko Mines from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research report on Wednesday, April 13th. Scotiabank increased their target price on Taseko Mines from C$2.75 to C$3.00 in a research report on Wednesday, April 13th. Stifel Nicolaus upgraded Taseko Mines from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Panmure Gordon upgraded Taseko Mines from a “hold” rating to a “buy” rating and set a $3.38 target price for the company in a research report on Thursday, March 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Taseko Mines presently has an average rating of “Hold” and an average target price of $3.27.

Shares of TGB stock opened at $2.27 on Thursday. The company has a quick ratio of 2.49, a current ratio of 3.26 and a debt-to-equity ratio of 1.43. Taseko Mines has a twelve month low of $1.49 and a twelve month high of $2.67. The firm has a market cap of $649.17 million, a P/E ratio of 22.70 and a beta of 2.21.

Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its stake in Taseko Mines by 86.2% during the second quarter. Morgan Stanley now owns 437,666 shares of the mining company’s stock worth $927,000 after purchasing an additional 202,641 shares during the period. Bank of America Corp DE grew its stake in Taseko Mines by 30.9% during the second quarter. Bank of America Corp DE now owns 440,147 shares of the mining company’s stock worth $933,000 after purchasing an additional 104,000 shares during the period. Toronto Dominion Bank acquired a new stake in Taseko Mines during the third quarter worth approximately $38,000. Goldman Sachs Group Inc. grew its stake in Taseko Mines by 117.1% during the third quarter. Goldman Sachs Group Inc. now owns 602,576 shares of the mining company’s stock worth $1,139,000 after purchasing an additional 324,985 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Taseko Mines by 0.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,294,440 shares of the mining company’s stock worth $13,690,000 after purchasing an additional 62,700 shares during the period. 20.95% of the stock is owned by institutional investors.

Taseko Mines Company Profile (Get Rating)

Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. It also holds 100% interest in 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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