Does Taseko Mines Limited (TGB) offer a good opportunity for investors?

Taseko Mines Limited (AMEX: TGB) stock fell -1.10% on Monday to $1.80 against a previous-day closing price of $1.82. With 1.04 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.56 million shares. During the session, the Other Industrial Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $1.8200 whereas the lowest price it dropped to was $1.7600. The 52-week range on TGB shows that it touched its highest point at $2.41 and its lowest point at $0.89 during that stretch. It currently has a 1-year price target of $1.70. Beta for the stock currently stands at 2.02.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TGB was down-trending over the past week, with a drop of -2.17%, but this was up by 16.88% over a month. Three-month performance surged to 71.43% while six-month performance rose 78.22%. The stock lost -11.33% in the past year, while it has gained 22.45% so far this year. A look at the trailing 12-month EPS for TGB yields -0.03 with Next year EPS estimates of 0.04. For the next quarter, that number is 0.01. This implies an EPS growth rate of 235.10% for this year and 500.00% for next year.

Float and Shares Shorts:

At present, 286.38 million TGB shares are outstanding with a float of 277.06 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.17 million, which was 1.80% higher than short shares on Sep 14, 2022. In addition to Mr. Stuart McDonald CA, CPA as the firm’s Pres, CEO & Director, Mr. Bryce Hamming CPA, BBA CA, CFA serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 23.57% of TGB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.25% of TGB, in contrast to 11.05% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in TGB with 3.33% of the stake, BlackRock Fund Advisors holds 9,545,985 shares worth 9,545,985. A second-largest stockholder of TGB, Diamond Hill Capital Management, holds 9,000,026 shares, controlling over 3.14% of the firm’s shares. Connor, Clark & Lunn Investment M is the third largest shareholder in TGB, holding 6,349,150 shares or 2.22% stake. With a 2.69% stake in TGB, the iShares Tr. – US Infrastructure E is the largest stakeholder. A total of 7,701,538 shares are owned by the mutual fund manager. The Global X Copper Miners ETF, which owns about 2.25% of TGB stock, is the second-largest Mutual Fund holder. It holds 6,452,766 shares valued at 9.49 million. Diamond Hill Small Cap Fund holds 1.72% of the stake in TGB, owning 4,937,333 shares worth 7.26 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TGB since 9 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TGB analysts setting a high price target of $2.86 and a low target of $1.66, the average target price over the next 12 months is $2.06. Based on these targets, TGB could surge 58.89% to reach the target high and fall by -7.78% to reach the target low. Reaching the average price target will result in a growth of 14.44% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TGB will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of $0.07 being high and -$0.08 being low. For TGB, this leads to a yearly average estimate of -$0.02. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Taseko Mines Limited surprised analysts by $0.02 when it reported $0.01 EPS against a consensus estimate of -$0.00. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is $0.01 and the low estimate is -$0.01. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded TGB stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 388,000 while 607,000 shares were sold.

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