Taseko Mines Limited (TSE:TKO)
TSX:TKO
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Taseko Mines
(TSX:TKO)
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Rating:60Neutral
Price Target:
C$8.50
▲(2.53% Upside)
Action:ReiteratedDate:02/20/26
The score is held back mainly by weaker financial quality (recent net losses, elevated leverage, and sharply negative 2025 free cash flow). This is partly offset by constructive technical trends and a generally positive earnings-call outlook driven by Florence ramp-up, Gibraltar production guidance, and strong liquidity, while valuation support is limited due to the negative P/E and no stated dividend yield.
Positive Factors
Florence first production and project optionality
Florence reaching electrowinning and first cathode production is a durable expansion of low‑cost SX/EW capacity. At an expected 30–35M lbs in 2026 and a controlled final capex (~US$275M), Florence materially increases company-scale copper output and optionality, supporting long-term revenue diversification and project-led growth.
Negative Factors
Elevated leverage
Debt levels above equity increase the company's sensitivity to copper price swings and operational hiccups. Elevated leverage can raise interest and refinancing risk, constrain strategic flexibility (M&A, dividend policy) and amplify downside in downturns, making capital structure resilience a persistent fundamental concern.
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Positive Factors
Negative Factors
Florence first production and project optionality
Florence reaching electrowinning and first cathode production is a durable expansion of low‑cost SX/EW capacity. At an expected 30–35M lbs in 2026 and a controlled final capex (~US$275M), Florence materially increases company-scale copper output and optionality, supporting long-term revenue diversification and project-led growth.
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Taseko Mines (TKO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.02B
Dividend YieldN/A
Average Volume (3M)1.86M
Price to Earnings (P/E)―
Beta (1Y)2.26
Revenue Growth1.17%
EPS Growth-169.37%
CountryCA
Employees191
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)0.11
Shares Outstanding364,557,160
10 Day Avg. Volume2,536,790
30 Day Avg. Volume1,863,956
Financial Highlights & Ratios
PEG Ratio-0.80
Price to Book (P/B)3.23
Price to Sales (P/S)3.73
P/FCF Ratio-8.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$12.26Price Target Upside47.91% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.55
Revenue Forecast (FY)C$1.09B
Taseko Mines Business Overview & Revenue Model
Company Description
Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties. The company explores for copper, molybdenum, gold, niobium, and silver deposits. It holds 75% interest in the Gibraltar mine located in British Columbia. ...
How the Company Makes Money
Taseko makes money primarily by producing and selling copper, with revenue largely determined by (1) the volume of copper and any by-product metals produced and sold and (2) prevailing commodity prices. The company’s operating mine(s) generate sal...
Taseko Mines Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
Overall the quarter and annual results show material operational and financial progress: Florence achieved first copper production with encouraging early wellfield performance, Gibraltar delivered a strong Q4 with improved grades, record revenues were recorded, adjusted EBITDA and operating cash flow strengthened materially, and liquidity remains robust. Offsetting these positives are operational challenges at Gibraltar (unscheduled downtime, more supergene/oxide material and grade-model revisions), a fatal safety incident, minor commissioning delays at Florence and some near-term accounting impacts as capitalized commissioning costs are expensed. On balance the positive operational momentum, strong commodity pricing (copper ~25% higher YoY), significant cash generation and valuable project optionality outweigh the challenges.Positive Updates
Florence Copper Achieves First Production
Electrowinning circuit turned on and copper plating underway; first cathodes expected within days. Wellfield solutions have been flowing for ~3 months with higher-than-expected injection flow rates and accelerated acidification leading to faster-than-expected PLS grade ramp-up. Company expects Florence to produce approximately 30–35 million pounds of copper in 2026 and plans to add 80–100 new wells per year to support long-term production growth.
Negative Updates
Fatal Safety Incident at Gibraltar
A tragic accident in November resulted in the death of a contract worker. The incident is under review with on-site employees; management reiterated safety as a core value and extended condolences to the family and coworkers.
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Q4-2025 Updates
Positive
Negative
Florence Copper Achieves First Production
Electrowinning circuit turned on and copper plating underway; first cathodes expected within days. Wellfield solutions have been flowing for ~3 months with higher-than-expected injection flow rates and accelerated acidification leading to faster-than-expected PLS grade ramp-up. Company expects Florence to produce approximately 30–35 million pounds of copper in 2026 and plans to add 80–100 new wells per year to support long-term production growth.
Read all positive updates
Company Guidance
Management guided that Florence has started electrowinning and is expected to produce ~30–35 million pounds of copper in 2026, with drilling ramping from 3 to 4 rigs and a plan to add ~80–100 new wells per year; Florence final commercial capex was US$275 million (~3% over the revised budget), Q4 capex was US$8 million and Q4 capitalized site/commissioning costs were US$60 million. Gibraltar is forecast to produce 110–115 million pounds of copper in 2026 (±5% through 2028) with average recoveries of 75–80%, design throughput ~85,000 tpd (~30+ Mtpa) and a Connector‑pit reserve grade of ~0.25% (management is modeling 5–10% lower conservatively); Q4 Gibraltar delivered 31 Mm lbs Cu at 0.26% head grade and 81% recovery (800k lbs Mo), with 2025 totals of 98 Mm lbs Cu and 1.9 Mm lbs Mo at a cost of US$2.66/lb (Q4 US$2.47/lb). Financially, Q4 copper sales were 32 Mm lbs at an average realized US$5.13/lb (2025 avg US$4.61/lb), Q4 revenue was US$244m (including US$25m moly), Q4 adjusted EBITDA US$116m (FY US$230m), Q4 cash flow from operations US$101m (Gibraltar free cash flow US$72m; FY Gibraltar cash flow US$220m), liquidity was C$188m cash + US$110m undrawn (~C$340m), and hedges include a Florence ceiling of US$5.40/lb to end‑June (year‑end mark US$22m) plus Q3‑2026 collars with a US$4.75/lb floor on 8 Mm lbs/month and ceilings to US$7.50–8.50/lb.Taseko Mines Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
52
Neutral
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 673.17M | 608.09M | 524.97M | 391.61M | 433.28M |
| Gross Profit | 141.44M | 117.16M | 207.35M | 54.23M | 163.81M |
| EBITDA | 213.85M | 170.94M | 233.23M | 71.62M | 176.63M |
| Net Income | -30.08M | -13.44M | 82.73M | -25.97M | 36.47M |
Balance Sheet | |||||
| Total Assets | 2.47B | 2.20B | 1.57B | 1.28B | 1.18B |
| Cash, Cash Equivalents and Short-Term Investments | 190.37M | 173.63M | 97.81M | 123.43M | 239.88M |
| Total Debt | 870.62M | 790.57M | 637.89M | 586.57M | 533.10M |
| Total Liabilities | 1.69B | 1.69B | 1.13B | 922.27M | 824.68M |
| Stockholders Equity | 778.66M | 503.22M | 434.15M | 356.41M | 358.52M |
Cash Flow | |||||
| Free Cash Flow | -282.15M | 149.48M | 33.16M | 1.59M | 87.04M |
| Operating Cash Flow | 146.12M | 232.62M | 151.09M | 81.27M | 174.77M |
| Investing Cash Flow | -425.84M | -317.89M | -167.60M | -166.41M | -147.71M |
| Financing Cash Flow | 297.94M | 157.16M | -7.05M | -35.24M | 125.79M |
Taseko Mines Technical Analysis
Negative
8.29
Price Trends
10.26
Negative
8.77
Negative
6.82
Positive
Market Momentum
-0.65
Positive
38.55
Neutral
40.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TKO, the sentiment is Negative. The current price of 8.29 is below the 20-day moving average (MA) of 9.33, below the 50-day MA of 10.26, and above the 200-day MA of 6.82, indicating a neutral trend. The MACD of -0.65 indicates Positive momentum. The RSI at 38.55 is Neutral, neither overbought nor oversold. The STOCH value of 40.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TKO.
Taseko Mines Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$769.33M | 14.93 | 33.30% | 4.11% | 10.41% | -0.23% | |
65 Neutral | C$1.31B | 10.94 | 16.22% | ― | 45.15% | 449.29% | |
65 Neutral | C$3.62B | 10.93 | 31.58% | ― | 29.97% | 658.38% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | C$3.02B | -83.57 | -5.02% | ― | 1.17% | -169.37% | |
59 Neutral | C$1.36B | -39.35 | -5.31% | ― | ― | 22.26% | |
52 Neutral | C$1.06B | -22.90 | -17.78% | ― | ― | -104.52% |
* Basic Materials Sector Average
TSE:TKO
Taseko Mines
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153.42%
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TSE:ERO
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TSE:ASCU
Arizona Sonoran Copper Co.
6.50
4.24
187.61%
Taseko Mines Corporate Events
Business Operations and StrategyFinancial Disclosures
Taseko Mines Boosts Q4 Results and Starts Copper Production at Florence Project
Positive
Feb 18, 2026
Taseko Mines reported 2025 revenues of $673 million from the sale of 99 million pounds of copper and 1.9 million pounds of molybdenum, with adjusted EBITDA of $230 million and adjusted net income of $27 million despite a reported net loss. The Gib...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.