Taseko Mines Ltd (AMEX:TGB) price on current trading day, rose 8.70% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.25.
A look at the stock’s price movement, the close in the last trading session was $2.07. Turning to its 52-week performance, $3.15 and $1.46 were the 52-week high and 52-week low respectively. Overall, TGB moved 19.05% over the past month.
Taseko Mines Ltd’s market cap currently stands at around $698.74 million, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 141.07M for the company’s revenue for the quarter, with a low and high estimate of 129.9M and 154M respectively. The average forecast suggests down to a -4.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 742.28M, representing a 22.07% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TGB is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 25% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 3 recommend TGB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
TGB’s current price about 9.06% and 11.10% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.80, while 7-day volatility ratio is 8.03% and 5.33% in the 30-day chart. Further, Taseko Mines Ltd (TGB) has a beta value of 1.61, and an average true range (ATR) of 0.12. Analysts have given the company’s stock an average 52-week price target of $3.75, forecast between a low of $3.75 and high of $3.75. Looking at the price targets, the low is -66.67% off current price level while to achieve the yearly target high, price needs to move -66.67%. Nonetheless, investors will most likely welcome a -66.67% jump to $3.75 which is the analysts’ median price.
If we refocus on Taseko Mines Ltd (AMEX:TGB), historical trading data shows that trading volumes averaged 3.68 million over the past 3 months. The company’s latest data on shares outstanding shows there are 304.68 million shares.
The 2.31% of Taseko Mines Ltd’s shares are in the hands of company insiders while institutional holders own 26.42% of the company’s shares. Current price change has pushed the stock 15.98% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TGB stock continues to rise going into the next quarter.
