Canada's Taseko Mines Q2 revenue misses expectations

Overview

• Taseko Mines Q2 revenue of CAD 116 mln missed analyst expectations

• Adjusted EPS for Q2 met expectations at CAD 0.04 loss per share

• Co's Gibraltar SX/EW plant restarted, Florence Copper project over 90% complete

Outlook

• Taseko expects copper production of 110-120 mln pounds in 2025

• Florence Copper on track for first production before end of 2025

• Company forecasts higher molybdenum grades in Connector pit ore

• Taseko has copper collar contracts securing US$4.00 per pound for 54 million pounds of copper for the remainder of 2025

Result Drivers

• GIBRALTAR PRODUCTION - Copper production at Gibraltar was in line with plan, despite low-grade stockpiled material impacting recoveries

• SX/EW PLANT - Restart of Gibraltar's SX/EW plant contributed to copper cathode production

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialty mining & metals peer group is "buy"

• Wall Street's median 12-month price target for Taseko Mines Ltd is C$5.30, about 20.2% above its August 5 closing price of C$4.23

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX1KGxbY