National Bank Thinks Taseko Mines’ Stock is Going to Recover
In a new note to investors today, an analyst has provided a rating update for Taseko Mines (TKO). The company received a Buy rating from National Bank’s analyst Don DeMarco, with a C$1.25 price target.
According to TipRanks.com, DeMarco is a 5-star analyst with an average return of 13.7% and a 79.7% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Trevali Mining Corporation, Kirkland Lake Gold Ltd, and First Majestic Silver.
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Taseko Mines has an analyst consensus of Moderate Buy, with a price target consensus of C$1.25.
Based on Taseko Mines’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$7.93 million. In comparison, last year the company had a GAAP net loss of C$18.48 million.
Taseko Mines Ltd. engages in the acquisition, development, and operation of mineral deposits. It also engages in production and sale of metals. Its properties include Gibraltar, Florence copper, Aley niobium, Harmony gold, and New Prosperity gold-copper projects. The company was founded on April 15, 1966 and is headquartered in Vancouver, Canada.
The company’s shares closed on Friday at C$0.70, close to its 52-week low of C$0.60.