Taseko Mines (TSE:TKO) Posts Earnings Results

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

Shares of Taseko Mines stock traded up C$0.07 during trading on Thursday, reaching C$11.58. 2,145,534 shares of the stock traded hands, compared to its average volume of 1,346,262. Taseko Mines has a 52-week low of C$4.16 and a 52-week high of C$12.47. The business has a fifty day simple moving average of C$10.00 and a two-hundred day simple moving average of C$10.04. The company has a market capitalization of C$4.23 billion, a price-to-earnings ratio of 231.60 and a beta of 1.86.

Analyst Upgrades and Downgrades

Separately, National Bank Financial increased their target price on Taseko Mines from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$13.17.

Insider Buying and Selling at Taseko Mines

In related news, insider Brian Lee Bergot sold 82,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$11.34, for a total value of C$929,880.00. Following the sale, the insider directly owned 211,811 shares of the company’s stock, valued at C$2,401,936.74. This represents a 27.91% decrease in their position. Also, insider Bryce Hamming sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 120,000 shares of the company’s stock, valued at approximately C$1,320,000. The trade was a 29.41% decrease in their position. Insiders have bought 93,000 shares of company stock worth $325,590 over the last quarter. Insiders own 2.58% of the company’s stock.

About Taseko Mines

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.