Taseko Mines Ltd T.TKO

Alternate Symbol(s): TGB

Metals & Mining Copper

Taseko Mines Limited is a Canada-based copper focused mining company. The Company's principal assets are the 100% owned Gibraltar mine (Gibraltar), which is located in central British Columbia and is one of the largest copper mines in North America and the Florence Copper project, which is under construction. The Company also owns the Yellowhead copper, New Prosperity gold-copper, and Aley niobium projects. The Florence Copper project is located south of Phoenix in the community of Florence, Arizona. The Yellowhead Project is located in the Thompson-Nicola region of British Columbia, approximately 150 kilometers (km) northeast of Kamloops near the town of Vavenby. The Aley niobium project is located in northeast British Columbia. The New Prosperity property is located in south-central British Columbia and hosts one of the most significant copper and gold deposits in Canada. It is also located in an area of cultural significance to the Tsilhqot'in Nation, known as Teztan Biny and Nabas.

TSX:TKO - Post by User

Taseko Mines Ltd

Bullboard Posts

Comment by your_solution1on Nov 17, 2012 7:31pm

476 Views

Post# 20614368

RE: Insider and target.... TGB (US)

Taseko (TGB) is the owner (75%) and operator of the Gibraltar Mine, the second largest open pit copper-molybdenum mine in Canada. Taseko's New Prosperity Project, which is currently in the Environmental Assessment process, is one of the largest undeveloped gold-copper deposits in the world. In addition, the Aley Niobium and Harmony Gold projects are two longer term development opportunities that provide Taseko with a diverse project pipeline.

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Insider buys

Russell Hallbauer purchased 64,100 shares on November 2. Russell Hallbauer is President, CEO and director of the company.
Taseko Mines Limited purchased 2,861,020 shares on May 11 - September 6.
Brian Battison purchased 10,000 shares on May 15. Brian Battison is Vice President, Corporate Affairs.

Financials

The company reported the third-quarter financial results on October 31 with the following highlights:

Revenue	$61.0 million
Net loss	$3.9 million
Cash	$200.8 million

Outlook

Russell Hallbauer, President and CEO of Taseko, commented on October 31:

"With the ramp up of GDP2 effectively behind us and commissioning of GDP3 expected to commence later this quarter, we are in an enviable position heading into next year. 2013 will be a year of significant growth with the potential to nearly double our revenue with a commensurate increase in free cash flow and earnings. At the same time, exploration and evaluation expenditures will be approximately one half of 2012 levels as the majority of our project work is complete. This reduction in project expenditures will translate into near-term earnings improvements."

My analysis

The stock has a $8 price target from the Point and Figure chart. There have been 36 insider buy transactions and 10 insider sell transactions during the past six months. There are 0 analyst buy ratings, two neutral ratings and two sell ratings. The stock is trading at a P/E ratio of 41.29 and a forward P/E ratio of 6.88. The company has a Net Asset Value of $17.41 per share. I have a bullish bias for the stock currently.