Taseko Mines (TSE:TKO) Issues Quarterly Earnings Results

Taseko Mines (TSE:TKO) posted its quarterly earnings data on Thursday. The company reported C$0.11 earnings per share (EPS) 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 0.6%

Shares of Taseko Mines stock opened at C$11.58 on Friday. The firm has a market capitalization of C$4.23 billion, a PE ratio of 231.60 and a beta of 1.86. Taseko Mines has a 12 month low of C$4.16 and a 12 month high of C$12.47. The business’s 50-day moving average price is C$10.03 and its 200-day moving average price is C$10.05.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial raised their price target 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 data from MarketBeat, Taseko Mines presently has a consensus rating of “Buy” and a consensus target price of C$13.17.

Insider Buying and Selling

In other Taseko Mines news, insider Brian Lee Bergot sold 82,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$11.34, for a total transaction of C$929,880.00. Following the transaction, the insider directly owned 211,811 shares in the company, valued at C$2,401,936.74. This trade represents a 27.91% decrease in their ownership of the stock. Also, insider Bryce Hamming sold 50,000 shares of Taseko Mines stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$11.00, for a total transaction of C$550,000.00. Following the transaction, the insider directly owned 120,000 shares in the company, valued at C$1,320,000. This trade represents a 29.41% decrease in their ownership of the stock. Insiders bought 93,000 shares of company stock worth $325,590 in the last quarter. 2.58% of the stock is 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.