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.
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.
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.
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.