Equities Analysts Set Expectations for Taseko Mines Limited’s FY2022 Earnings (NYSEAMERICAN:TGB)

Taseko Mines Limited (NYSEAMERICAN:TGBGet Rating) (TSE:TKO) – Equities researchers at National Bank Financial dropped their FY2022 earnings estimates for shares of Taseko Mines in a note issued to investors on Monday, April 18th. National Bank Financial analyst S. Nagle now anticipates that the mining company will post earnings of $0.24 per share for the year, down from their prior 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 issued its earnings results on Tuesday, February 22nd. The mining company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $81.69 million for the quarter. Taseko Mines had a return on equity of 13.48% and a net margin of 8.46%.

TGB has been the topic of several other reports. Zacks Investment Research cut Taseko Mines from a “buy” rating to a “hold” rating in a research report on Friday. Panmure Gordon upgraded Taseko Mines from a “hold” rating to a “buy” rating and set a $3.38 price objective on the stock in a research note on Thursday, March 10th. Scotiabank boosted their target price on Taseko Mines from C$2.75 to C$3.00 in a report on Wednesday, April 13th. Finally, Stifel Nicolaus raised Taseko Mines from a “hold” rating to a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.27.

TGB stock opened at $2.01 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.26 and a quick ratio of 2.49. Taseko Mines has a 52 week low of $1.49 and a 52 week high of $2.67. The firm has a market cap of $574.82 million, a PE ratio of 20.10 and a beta of 2.21.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. purchased a new position in Taseko Mines in the 4th quarter valued at approximately $30,000. Toronto Dominion Bank bought a new stake in shares of Taseko Mines during the 3rd quarter worth $38,000. JustInvest LLC bought a new stake in Taseko Mines in the fourth quarter worth $42,000. Morling Financial Advisors LLC bought a new stake in Taseko Mines in the fourth quarter worth $45,000. Finally, Stonebridge Capital Advisors LLC increased its position in shares of Taseko Mines by 200.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 30,000 shares of the mining company’s stock valued at $62,000 after acquiring an additional 20,000 shares during the period. 20.95% of the stock is currently owned by institutional investors and hedge funds.

About Taseko Mines (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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