Taseko Mines Limited (AMEX: TGB) stock fell -0.79% on Thursday to $1.25 against a previous-day closing price of $1.26. With 1.03 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.13 million shares. During the session, the Copper company that operates in wider Basic Materials sector, reached to the highest price of $1.2700 whereas the lowest price it dropped to was $1.2200. The 52-week range on TGB shows that it touched its highest point at $1.90 and its lowest point at $0.89 during that stretch. It currently has a 1-year price target of $2.09. Beta for the stock currently stands at 1.97.
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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 -10.07%, but this was down by -23.31% over a month. Three-month performance dropped to -21.38% while six-month performance fell -7.41%. The stock lost -21.38% in the past year, while it has lost -14.97% so far this year. A look at the trailing 12-month EPS for TGB yields -0.07 with Next year EPS estimates of 0.17. For the next quarter, that number is 0.02. This implies an EPS growth rate of -171.50% for this year and 88.90% for next year.
Float and Shares Shorts:
At present, 288.01 million TGB shares are outstanding with a float of 277.06 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.62 million, which was 0.22% higher than short shares on Mar 30, 2023. 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 18.70% of TGB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.07% of TGB, in contrast to 10.46% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in TGB with 2.41% of the stake, Diamond Hill Capital Management, holds 6,962,986 shares worth 6,962,986. A second-largest stockholder of TGB, Global X Management Co. LLC, holds 6,958,680 shares, controlling over 2.41% of the firm’s shares. Connor, Clark & Lunn Investment M is the third largest shareholder in TGB, holding 6,259,658 shares or 2.17% stake. With a 2.27% stake in TGB, the Global X Copper Miners ETF is the largest stakeholder. A total of 6,533,441 shares are owned by the mutual fund manager. The iShares Tr. – US Infrastructure E, which owns about 2.17% of TGB stock, is the second-largest Mutual Fund holder. It holds 6,249,152 shares valued at 10.31 million. Diamond Hill Small Cap Fund holds 1.64% of the stake in TGB, owning 4,734,817 shares worth 7.81 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, TGB reported revenue of $82.94M and operating income of -$9.43M. The EBITDA in the recently reported quarter was $4.37M and diluted EPS was -$0.02.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TGB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TGB stock several times over the past three months with 4 Buys and 2 Sells. In these transactions, 90,000 shares were bought while 40,000 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 931,158 while 404,400 shares were sold.
