Taseko Mines Ltd. (AMEX: TGB) stock jumped 2.50% on Monday to $1.23 against a previous-day closing price of $1.20. With 0.54 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.82 million shares. During the session, the Copper company that operates in wider Basic Materials sector, reached to the highest price of $1.2300 whereas the lowest price it dropped to was $1.1900. The 52-week range on TGB shows that it touched its highest point at $1.90 and its lowest point at $1.05 during that stretch. It currently has a 1-year price target of $2.18. Beta for the stock currently stands at 2.04.
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 up-trending over the past week, with a rise of 2.50%, but this was up by 10.81% over a month. Three-month performance dropped to -9.56% while six-month performance fell -12.14%. The stock lost -6.82% in the past year, while it has lost -16.33% so far this year. A look at the trailing 12-month EPS for TGB yields 0.03 with Next year EPS estimates of 0.11. For the next quarter, that number is 0.04. This implies an EPS growth rate of 912.57% for this year and 42.12% for next year.
Float and Shares Shorts:
At present, 286.49 million TGB shares are outstanding with a float of 279.23 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.33 million, which was 1.50% higher than short shares on Sep 28, 2023. In addition to Mr. Stuart McDonald CA, CPA as the firm’s President, CEO & Director, Mr. Bryce Hamming CPA, BBA CA, CFA serves as its Chief Financial Officer.
Through their ownership of 18.67% of TGB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.50% of TGB, in contrast to 11.06% held by mutual funds. As the largest shareholder in TGB with 3.18% of the stake, BlackRock Fund Advisors holds 9,185,677 shares worth 9,185,677. A second-largest stockholder of TGB, Connor, Clark & Lunn Investment M, holds 6,248,813 shares, controlling over 2.17% of the firm’s shares. Global X Management Co. LLC is the third largest shareholder in TGB, holding 6,225,411 shares or 2.16% stake. With a 3.23% stake in TGB, the iShares Tr. – US Infrastructure E is the largest stakeholder. A total of 9,327,180 shares are owned by the mutual fund manager. The Global X Copper Miners ETF, which owns about 2.46% of TGB stock, is the second-largest Mutual Fund holder. It holds 7,110,480 shares valued at 7.68 million. Diamond Hill Small Cap Fund holds 1.11% of the stake in TGB, owning 3,207,141 shares worth 3.46 million.
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. With TGB analysts setting a high price target of $2.72 and a low target of $1.60, the average target price over the next 12 months is $2.18. Based on these targets, TGB could surge 121.14% to reach the target high and rise by 30.08% to reach the target low. Reaching the average price target will result in a growth of 77.24% from current levels.
Summary of Insider Activity:
Insiders traded TGB stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 10,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 1,680,159 while 537,600 shares were sold.