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Taseko Mines Limited (AMEX: TGB): One Stock To Trade As Economic Progress Advances

In the last trading session, 1.15 million shares of the Taseko Mines Limited (AMEX:TGB) were traded, and its beta was 2.06. Most recently the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 1.15 million shares of the Taseko Mines Limited (AMEX:TGB) were traded, and its beta was 2.06. Most recently the company’s share price was $1.24, and it changed around $0.1 or 8.77% from the last close, which brings the market valuation of the company to $348.50M. TGB currently trades at a discount to its 52-week high of $2.41, offering almost -94.35% off that amount. The share price’s 52-week low was $0.89, which indicates that the current value has risen by an impressive 28.23% since then. We note from Taseko Mines Limited’s average daily trading volume that its 10-day average is 1.62 million shares, with the 3-month average coming to 1.64 million.

Taseko Mines Limited (AMEX:TGB) trade information

Instantly TGB has showed a green trend with a performance of 8.77% 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 1.2400 on Monday, 10/03/22 . The company’s shares are currently down -39.51% year-to-date, but still up 16.98% over the last five days. On the other hand, Taseko Mines Limited (AMEX:TGB) is 21.57% up in the 30-day period. We can see from the shorts that 4.8 million shares have been sold at a short interest cover period of 3.04 day(s).

The consensus price target as assigned by Wall Street analysts is $1.71, which translates to bulls needing to increase their stock price by 27.49% from its current value. Analyst projections state that TGB is forecast to be at a low of $1.33 and a high of $2.30. In order for the stock price to hit the forecast high, the stock would need to plunge -85.48% from its current level, while the stock would need to crash -7.26% from its current level to reach the projected low.

Taseko Mines Limited (TGB) estimates and forecasts

Taseko Mines Limited share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -47.46 percent over the past six months and at a -84.62% annual growth rate that is well below the industry average of 16.40%. The year-over-year growth rate is expected to be 14.90%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $90.61 million in revenue for the current quarter. 2 analysts expect Taseko Mines Limited to make $99.5 million in revenue for the quarter ending Sep 2022.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 23.70%.

TGB Dividends

Taseko Mines Limited’s next quarterly earnings report is expected to be released around November 01 and November 07.

Taseko Mines Limited (AMEX:TGB)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.37% of Taseko Mines Limited shares, and 24.83% of them are in the hands of institutional investors. The stock currently has a share float of 25.69%. Taseko Mines Limited stock is held by 112 institutions, with Benefit Street Partners, LLC being the largest institutional investor. By Jun 29, 2022, it held 3.44% of the shares, which is about 9.86 million shares worth $10.64 million.

Renaissance Technologies, LLC, with 2.76% or 7.91 million shares worth $18.12 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

iShares U.S. Infrastructure ETF and Global X Fds-Global X Copper Miners ETF were the top two Mutual Funds as of Jun 29, 2022. The former held 6.82 million shares worth $7.36 million, making up 2.38% of all outstanding shares. On the other hand, Global X Fds-Global X Copper Miners ETF held roughly 5.47 million shares worth around $5.91 million, which represents about 1.91% of the total shares outstanding.

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