Canada's Taseko Mines Q3 revenue rises, driven by improved Gibraltar copper production

Overview

• Taseko Q3 rev at C$173.9 mln driven by improved Gibraltar copper production

• Adjusted EPS for Q3 misses analyst expectations

• Company reports net loss of ~C$28 mln for Q3

Outlook

• Company expects 2025 copper production of 100 to 105 mln pounds

• Taseko anticipates first copper cathode production at Florence Copper in early 2026

• Company sees strong copper prices in 2026 due to demand and supply constraints

Result Drivers

• COPPER PRODUCTION - Gibraltar copper production improved due to higher grades and recoveries as mining advanced deeper into the Connector pit

• OPERATING COSTS - Total operating (C1) costs decreased to US$2.87 per pound, attributed to higher molybdenum by-product credits and lower off-property costs

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$6.10, about 5.6% below its November 11 closing price of C$6.44

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nGNE5H8DXm

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