Taseko Mines (TSE:TKO)
XASE:TKO
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Taseko Mines
(NYSE MKT:TKO)
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Rating:58Neutral
Price Target:
C$9.00
▼(-14.53% Downside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by mixed financial performance—thin profitability, meaningful leverage, and weak/volatile free cash flow—despite improving revenue and positive net income. Technicals are moderately supportive with price above key moving averages and neutral momentum. Valuation is a notable headwind due to a high P/E, while the latest earnings call adds support via positive Florence ramp guidance and strong recent operational results, tempered by inflationary cost pressures and hedge impacts.
Positive Factors
Florence ramp potential
Florence’s phased ramp to 30–35M lbs in 2026 and 80–85M lbs steady state in 2027 is a structural capacity expansion. If achieved, it materially increases company-scale, diversifies production sources, and improves future revenue and cash generation potential beyond current Gibraltar output.
Negative Factors
Meaningful leverage
Debt roughly in line with equity constrains financial flexibility against commodity cyclicality. High leverage increases refinancing, interest and covenant risks during price or operational downturns, limiting the company’s ability to fund growth or absorb shocks without using cash or issuing equity.
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Positive Factors
Negative Factors
Florence ramp potential
Florence’s phased ramp to 30–35M lbs in 2026 and 80–85M lbs steady state in 2027 is a structural capacity expansion. If achieved, it materially increases company-scale, diversifies production sources, and improves future revenue and cash generation potential beyond current Gibraltar output.
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Taseko Mines (TKO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.32B
Dividend YieldN/A
Average Volume (3M)931.47K
Price to Earnings (P/E)48.6
Beta (1Y)2.39
Revenue Growth27.92%
EPS GrowthN/A
CountryCA
Employees191
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)0.04
Shares Outstanding365,633,150
10 Day Avg. Volume1,268,970
30 Day Avg. Volume931,467
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$13.10Price Target Upside24.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.49
Revenue Forecast (FY)C$1.10B
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:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive operational and financial picture driven by the successful startup and initial ramp of Florence, strong Gibraltar production, record quarterly revenue, solid cash generation, and improved molybdenum performance. Notable headwinds include cost inflation (diesel, explosives), elevated site costs (+13% vs Q4), temporary production/throughput impacts and realized price dilution from hedges. Management provided clear ramp guidance for Florence and confidence in liquidity and deleveraging potential later in the year.Positive Updates
Florence First Production and Ramp Plan
Achieved first copper cathode production in late February; harvested ~1.5 million pounds of cathode in Q1. Approximately 90 production wells producing at a consistent daily rate of 55,000–60,000 lbs (≈1.5–1.8 million lbs/month). Five drill rigs operating; +20 wells coming online in May and +26 later in the summer, with further monthly additions through year-end. Company guidance of 30–35 million lbs of copper for 2026 (weighted to H2) and target steady-state capacity of 80–85 million lbs in 2027.
Negative Updates
Cost Inflation at Gibraltar
C1 cash cost increased to $2.63 US per pound produced, approximately 6% higher than the previous quarter. Total site costs were $142 million (including $15 million capitalized stripping), up 13% versus Q4 2025. Key inflation drivers include higher diesel and explosives costs and higher repairs & maintenance (timing-related).
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Q1-2026 Updates
Positive
Negative
Florence First Production and Ramp Plan
Achieved first copper cathode production in late February; harvested ~1.5 million pounds of cathode in Q1. Approximately 90 production wells producing at a consistent daily rate of 55,000–60,000 lbs (≈1.5–1.8 million lbs/month). Five drill rigs operating; +20 wells coming online in May and +26 later in the summer, with further monthly additions through year-end. Company guidance of 30–35 million lbs of copper for 2026 (weighted to H2) and target steady-state capacity of 80–85 million lbs in 2027.
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Company Guidance
The company guided that Florence will ramp through 2026 to a target of 30–35 million pounds of copper this year (weighted to the second half) and to steady‑state 80–85 million pounds in 2027, with about 90 wells currently producing ~55–60k lbs/day (~1.5–1.8M lbs/month), five drill rigs active, +20 wells coming online this month, +26 later in the summer and further groups monthly; Gibraltar is expected to sustain steady production (Q1 produced 30M lbs Cu and ~700k lbs Mo, head grade 0.25%, recovery 83%) while its SX/EW contributed 733k lbs cathode in Q1 and leaching was paused in April to tie in a second leach pad to boost cathode output. They reiterated near‑term financial/hedging guidance: existing collars reduced realized price to US$5.40/lb in Q1 versus an LME average of ~US$5.83/lb, with 27M lbs of collars remaining into Q2 (roll‑off beginning in June) after which higher upside to strikes at US$7.50/8.50 (and no limit after Q3) will be available; Florence is expected to begin generating free cash flow later this year, liquidity was C$322M including C$169M cash, and management plans to shift to shorter‑dated out‑of‑the‑money puts thereafter.Taseko Mines Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 768.08M | 673.17M | 608.09M | 524.97M | 391.61M | 433.28M |
| Gross Profit | 210.63M | 141.44M | 117.16M | 207.35M | 54.23M | 163.81M |
| EBITDA | 274.46M | 213.85M | 170.94M | 233.23M | 71.62M | 176.63M |
| Net Income | 15.33M | -30.08M | -13.44M | 82.73M | -25.97M | 36.47M |
Balance Sheet | ||||||
| Total Assets | 2.57B | 2.47B | 2.20B | 1.57B | 1.28B | 1.18B |
| Cash, Cash Equivalents and Short-Term Investments | 170.54M | 190.37M | 173.63M | 97.81M | 123.43M | 239.88M |
| Total Debt | 875.29M | 739.29M | 790.57M | 637.89M | 586.57M | 533.10M |
| Total Liabilities | 1.75B | 1.69B | 1.69B | 1.13B | 922.27M | 824.68M |
| Stockholders Equity | 817.99M | 778.66M | 503.22M | 434.15M | 356.41M | 358.52M |
Cash Flow | ||||||
| Free Cash Flow | 18.83M | -282.15M | 149.48M | 33.16M | 1.59M | 87.04M |
| Operating Cash Flow | 222.36M | 146.12M | 232.62M | 151.09M | 81.27M | 174.77M |
| Investing Cash Flow | -366.69M | -425.84M | -317.89M | -167.60M | -166.41M | -147.71M |
| Financing Cash Flow | 292.49M | 297.94M | 157.16M | -7.05M | -35.24M | 125.79M |
Taseko Mines Technical Analysis
Negative
10.53
Price Trends
9.55
Negative
9.86
Negative
7.81
Positive
Market Momentum
-0.05
Positive
41.80
Neutral
12.99
Positive
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 10.53 is above the 20-day moving average (MA) of 9.88, above the 50-day MA of 9.55, and above the 200-day MA of 7.81, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 41.80 is Neutral, neither overbought nor oversold. The STOCH value of 12.99 is Positive, 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | C$1.03B | 9.92 | 42.44% | 4.11% | 29.10% | 162.15% | |
72 Outperform | C$3.86B | 6.49 | 31.19% | ― | 87.54% | 1269.40% | |
64 Neutral | C$1.11B | 24.03 | 12.78% | ― | 14.21% | -23.19% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | C$3.32B | 48.59 | 2.27% | ― | 27.92% | ― | |
55 Neutral | C$1.69B | -10.74 | -15.03% | ― | ― | -120.73% | |
48 Neutral | C$1.07B | -22.69 | -17.73% | ― | ― | -107.42% |
* Basic Materials Sector Average
TSE:TKO
Taseko Mines
9.07
6.21
217.13%
TSE:ARG
Amerigo Resources
6.40
4.77
293.36%
TSE:MARI
Marimaca Copper
7.96
3.38
73.80%
TSE:III
Imperial Metals
6.21
1.91
44.42%
TSE:ERO
Ero Copper
37.02
17.88
93.42%
TSE:ASCU
Arizona Sonoran Copper Co.
8.09
6.06
298.52%
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.