Canadian miner Taseko's Q3 revenue rises on higher Gibraltar copper production

Overview

• Taseko Q3 revenue rose to about C$174 mln, driven by copper and molybdenum sales

• Adjusted net income for Q3 was C$6 mln, with a net loss of C$28 mln

• Gibraltar copper production improved due to higher grades and recoveries

Outlook

• Taseko expects copper production of 100 to 105 mln pounds in 2025

• Company anticipates higher molybdenum production due to improved grades

• Florence Copper to produce first copper cathode early next year

Result Drivers

• HIGHER COPPER GRADES - Gibraltar copper production improved due to mining advancing into higher grade ore in the Connector pit

• FLORENCE COPPER PROGRESS - Substantial completion of SX/EW plant and commencement of wellfield operations at Florence Copper

• FINANCIAL STRENGTHENING - Equity financing strengthened balance sheet, enabling debt repayment and project investment

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 10.3% below its November 12 closing price of C$6.73

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nRSM4814Ha

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