Taseko Mines: Solid Gibraltar Performance and Florence Ramp-Up Underscore Buy Rating and Copper-Leveraged Growth Upside

In a report released yesterday, Rene Cartier from BMO Capital maintained a Buy rating on Taseko Mines, with a price target of C$13.00.

Rene Cartier has given his Buy rating due to a combination of factors that highlight both solid current performance and meaningful growth potential. He notes that copper output at the Gibraltar mine exceeded expectations, supported by grades in line with the long-term plan and better-than-anticipated recoveries, while Florence’s early production is tracking the company’s ramp-up model.

Cartier also emphasizes that Gibraltar’s operations remain relatively steady, with only a modest cost impact from higher diesel prices, and Florence’s key reagent costs are protected by fixed contracts for 2026. In his view, Taseko offers attractive leverage to copper prices today, with additional upside from the continued development of the Florence project and longer-term optionality from the Yellowhead project.