In today’s recent session, 4,100,274 shares of the Taseko Mines Limited(NYSE:TGB) have been traded, and its beta is 2.85. Most recently the company’s share price was $1.98, and it changed around $0.18 or 0.1% from the last close, which brings the market valuation of the company to $538.94 Million. TGB at last check was trading at a discount to its 52-week high of $2.0097, offering almost -1.5% off that amount. The share price’s 52-week low was $0.2, which indicates that the recent value has risen by an impressive 89.9% since then. We note from Taseko Mines Limited’s average daily trading volume that its 10-day average is 4.5 Million shares, with the 3-month average coming to 2.59 Million.
Taseko Mines Limited stock received a consensus recommendation rating of Overweight, based on a mean score of 3. If we narrow it down even further, the data shows that none out of 8 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 3 recommended TGB as a Hold, whereas 5 deemed it a Buy, and no one rated it as Underweight. Taseko Mines Limited is expected to report earnings per share of $0.01 for the current quarter.
Taseko Mines Limited (NYSE:TGB): Trading Information Today
Instantly TGB has been showing a green trend so far today with a performance of 10% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $2 on Monday, Feb 22 increased the stock’s daily price by 0.95%. The company’s shares are currently up 0.5% year-to-date, but still up 0.1934 over the last five days. On the other hand, Taseko Mines Limited (NYSE:TGB) is 0.54% up in the 30-day period. We can see from the shorts that 280.43 Million shares have been sold at a short interest cover period of 108.27 day(s).
The consensus price target as assigned by Wall Street analysts is $1.74, which translates to bears needing to reduce their stock price by -12.12% from its current value. Analyst projections state that TGB is forecast to be at a low of $1.5 and a high of $2.39. In order for the stock price to hit the forecast high, the stock would need to surge +20.71% from its current level, while the stock would need to crash -24.24% from its current level to reach the projected low.
Taseko Mines Limited (TGB) projections and forecasts
Taseko Mines Limited share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +106.9 percent over the past six months and at a 95.24% annual growth rate that is well above the industry average of 22.2%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -83.3% in revenue this quarter, and will report an increase of 80% in the next quarter. The year-over-year growth rate is expected to be 6.9%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $57.77 Million in revenue for the current quarter. 1 analysts expect Taseko Mines Limited to make $76.03 Million in revenue for the quarter ending in Apr 2021. The company’s sales for the same quarters a year ago were $82.16 Million and $78.71 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -29.7%. Forecasts for the next quarter put sales growth at -3.4%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 4.3%. Taseko Mines Limited earnings are expected to decrease by -39.4% in 2021, but the outlook is negative 0% per year for the next five years.
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Taseko Mines Limited (NYSE:TGB)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 3.95% of Taseko Mines Limited shares, and 11.36% of them are in the hands of institutional investors. The stock currently has a share float of 11.82%. Taseko Mines Limited stock is held by 76 institutions, with Renaissance Technologies, LLC being the largest institutional investor. By Dec 30, 2020, it held 2.82% of the shares, which is about 7.95 Million shares worth $10.49 Million.
Benefit Street Partners, LLC, with 2.17% or 6.12 Million shares worth $6.49 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.