Canada's Taseko Q1 revenue rises but misses estimates

Overview

• Canada copper miner's Q1 revenue rose yr/yr but missed analyst expectations

• Q1 adjusted EPS missed analyst expectations

• Higher site costs driven by increased diesel and explosives prices

Outlook

• Taseko expects Gibraltar 2026 copper production between 110 mln and 115 mln pounds

• Company sees Florence Copper 2026 production in the range of 30 mln to 35 mln pounds

• Taseko says elevated diesel prices could increase Gibraltar operating costs by US$0.15 per pound

Result Drivers

• GIBRALTAR PRODUCTION - Higher copper and molybdenum output at Gibraltar, with copper production up 50% yr/yr and recoveries improved to 83% due to better ore characteristics

• FLORENCE COPPER RAMP-UP - Initial production from Florence Copper contributed 1.5 mln pounds of copper cathode in Q1 as the SX/EW plant began operations and wellfield expansion progressed

• HIGHER SITE COSTS - Site costs rose due to increased diesel and explosives prices, higher usage, and unscheduled maintenance, particularly at Gibraltar

Company press release: ID:nGNX6ZWkL2

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "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$12.88, about 26.1% above its May 6 closing price of C$10.21

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 18 three months ago

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