Should Taseko Mines Ltd. (AMEX: TGB) Revive After A 4.51% Jump From Highs?

During the last session, Taseko Mines Ltd. (AMEX:TGB)’s traded shares were 3.82 million, with the beta value of the company hitting 1.96. At the end of the trading day, the stock’s price was $2.44, reflecting an intraday gain of 4.72% or $0.11. The 52-week high for the TGB share is $2.33, that puts it up 4.51 from that peak though still a striking 56.97% gain since the share price plummeted to a 52-week low of $1.05. The company’s market capitalization is $708.77M, and the average intraday trading volume over the past 10 days was 3.05 million shares, and the average trade volume was 1.74 million shares over the past three months.

Taseko Mines Ltd. (AMEX:TGB) trade information

Taseko Mines Ltd. (TGB) registered a 4.72% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.72% in intraday trading to $2.44, hitting a weekly high. The stock’s 5-day price performance is 17.31%, and it has moved by 56.41% in 30 days. Based on these gigs, the overall price performance for the year is 46.99%. The short interest in Taseko Mines Ltd. (AMEX:TGB) is 5.09 million shares and it means that shorts have 2.61 day(s) to cover.

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Taseko Mines Ltd. (TGB) estimates and forecasts

Statistics show that Taseko Mines Ltd. has outperformed its competitors in share price, compared to the industry in which it operates. Taseko Mines Ltd. (TGB) shares have gone up 101.65% during the last six months, with a year-to-date growth rate more than the industry average at 27.27% against 17.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 50.00% this quarter and then jump 300.00% in the quarter after that. In the rating firms’ projections, revenue will increase 3.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $94.38 million as predicted by 2 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $100.26 million by the end of Jun 2024.

While earnings are projected to return 34.24% in 2024.

TGB Dividends

Taseko Mines Ltd. is due to release its next quarterly earnings between May 01 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Taseko Mines Ltd. (AMEX:TGB)’s Major holders

Taseko Mines Ltd. insiders own 3.23% of total outstanding shares while institutional holders control 20.28%, with the float percentage being 20.95%. Blackrock Inc. is the largest shareholder of the company, while 130 institutions own stock in it. As of Jun 29, 2023, the company held over 8.09 million shares (or 2.80% of all shares), a total value of $11.57 million in shares.

The next largest institutional holding, with 6.3 million shares, is of Connor Clark & Lunn Investment Management Ltd’s that is approximately 2.18% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $9.01 million.

Also, the Mutual Funds coming in first place with the largest holdings of Taseko Mines Ltd. (TGB) shares are iShares U.S. Infrastructure ETF and Global X Fds-Global X Copper Miners ETF. Data provided on Aug 30, 2023 indicates that iShares U.S. Infrastructure ETF owns about 8.91 million shares. This amounts to just over 3.09 percent of the company’s overall shares, with a $12.75 million market value. The same data shows that the other fund manager holds slightly less at 6.0 million, or about 2.08% of the stock, which is worth about $7.62 million.