Energy & Critical Metals
Taseko Mines Limited (AMEX: TGB): How Can A Stock Be Down -32.20% Year To Date, But Still Loser
Taseko Mines Limited (AMEX:TGB)’s traded shares stood at 0.65 million during the latest session, with the company’s beta value hitting 2.21. At the…
Taseko Mines Limited (AMEX:TGB)’s traded shares stood at 0.65 million during the latest session, with the company’s beta value hitting 2.21. At the last check today, the stock’s price was $1.30, to imply a decrease of -6.12% or -$0.09 in intraday trading. The TGB share’s 52-week high remains $2.41, putting it -85.38% down since that peak but still an impressive 0.0% since price per share fell to its 52-week low of $1.30. The company has a valuation of $406.88M, with an average of 1.55 million shares in intraday trading volume over the past 10 days and average of 2.16 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Taseko Mines Limited (TGB), translating to a mean rating of 2.20. Of 9 analyst(s) looking at the stock, 1 analyst(s) give TGB a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 6 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.04.
Taseko Mines Limited (AMEX:TGB) trade information
After registering a -6.12% downside in the latest session, Taseko Mines Limited (TGB) has traded red over the past five days. The stock hit a weekly high of 1.5300 this Wednesday, 06/15/22, dropping -6.12% in its intraday price action. The 5-day price performance for the stock is -14.20%, and -6.08% over 30 days. With these gigs, the year-to-date price performance is -32.20%. Short interest in Taseko Mines Limited (AMEX:TGB) saw shorts transact 3.47 million shares and set a 1.3 days time to cover.
Analysts on Wall Street suggest a consensus price target of $2.42, implying an increase of 46.28% to the stock’s recent value. The extremes give us $1.84 and $2.71 for target low and target high price respectively. As such, TGB has been trading -108.46% off suggested target high and -41.54% from its likely low.
Taseko Mines Limited (TGB) estimates and forecasts
Looking at statistics comparing Taseko Mines Limited share performance against respective industry, we note that the company has outperformed competitors. Taseko Mines Limited (TGB) shares are -27.60% down over the last 6 months, with its year-to-date growth rate higher than industry average at 23.08% against 17.10%. Revenue is forecast to grow 33.30% this quarter before falling -25.00% for the next one. The rating firms project that company’s revenue will grow 13.80% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is $89.72 million. Meanwhile, for the quarter ending Sep 2022, a total of 2 analyst(s) estimate revenue growth to $98.52 million.
Taseko Mines Limited has its next earnings report out between August 02 and August 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Taseko Mines Limited has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Taseko Mines Limited (AMEX:TGB)’s Major holders
Taseko Mines Limited insiders hold 3.37% of total outstanding shares, with institutional holders owning 24.44% of the shares at 25.30% float percentage. In total, 24.44% institutions holds shares in the company, led by Benefit Street Partners, LLC. As of Mar 30, 2022, the company held over 9.9 million shares (or 3.46% of shares), all amounting to roughly $22.66 million.
The next major institution holding the largest number of shares is Renaissance Technologies, LLC with 7.91 million shares, or about 2.76% of shares outstanding. As of the market price on Mar 30, 2022, these shares were worth $18.12 million.
We also have Global X Fds-Global X Copper Miners ETF and Diamond Hill Small Cap Fund as the top two Mutual Funds with the largest holdings of the Taseko Mines Limited (TGB) shares. Going by data provided on Apr 29, 2022, Global X Fds-Global X Copper Miners ETF holds roughly 5.62 million shares. This is just over 1.96% of the total shares, with a market valuation of $10.84 million. Data from the same date shows that the other fund manager holds a little less at 4.74 million, or 1.65% of the shares, all valued at about 10.85 million.
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