Major Brokerage Firms Issue Research Notes on Taseko Mines Limited (TGB)

Taseko Mines Limited (AMEX:TGB) saw an upside of 1.54% to close Monday at $1.98 after adding $0.03 on the day. The 5-day average trading volume is 1,870,300 shares of the company’s common stock. It has gained $2.0600 in the past week. An average of 1,676,910 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,403,708.

TGB’s 1-month performance is 3.66% or $0.0700 on its low of $1.6700 reached on 09/30/21. The company’s shares have touched a 52-week low of $0.78 and high of $2.67, with the stock’s rally to the 52-week high happening on 05/12/21. YTD, TGB has achieved 50.00% or $0.6600. However, the current price is down -25.84%% from the 52-week high price.

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Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 70.24 and a low of 10.36. TGB stock has a beta of 2.40. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.93 while the price-to-book (PB) in the most recent quarter is 2.22, with the price to cash flow ratio at 9.57.

Taseko Mines Limited’s quick ratio for the period ended June 29 was 2.70, with the current ratio over the same period at 3.20 meaning that TGB stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.61, while the total debt to equity was 1.67. In terms of profitability, the gross margin trailing 12 months is 19.20%. The trailing 12-month EBITDA margin is 26.03% while for the period ending June 29; Taseko Mines Limited’s operating margin was 6.80%. The firm’s gross profit as reported stood at $88.85 million against revenue of $256.25 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected TGB to announce $0.02 per share in earnings in its latest quarter, but it posted $0.03, representing a 50.00% surprise. EBITDA for the quarter stood at more than $36.72 million. TGB stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 632.25 million, with total debt at $530.23 million

Technical Picture

Let’s look briefly at Taseko Mines Limited (TGB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 59.36% to suggest the stock is trending Neutral, with historical volatility in this time period at 74.98%.

The stock’s 5-day moving average is $1.9580, reflecting a +5.88% or $0.1100 change from its current price. TGB is currently trading +5.88% above its 20-day SMA, -15.74% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +9.39% and +47.76% respectively.

Stochastic %K and %D was 82.78% and 81.65% and the average true range (ATR) pointed at 0.1195. The RSI (14) points at 57.42%, while the 14-day stochastic is at 79.49% with the period’s ATR at 0.1158. The stock’s 9-day MACD Oscillator is pointing at 0.0689 and 0.1081 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Taseko Mines Limited (AMEX: TGB), TD Securities upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for TGB stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate TGB as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.

What is TGB’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $2.20 and a high of $3.54, with their median price target at $2.56. Looking at these predictions, the average price target given by analysts is for Taseko Mines Limited (TGB) stock is $2.60.


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