Taseko Mines Ltd T.TKO

Interesting News

[dcjones4396]

Scotiabank came out today cutting their target price for TKO from $2.75 to $2.60 Canadian. This as TKO currently sits at $2.54. Therefore, Scotiabank must believe that Florence permit news will only add an additional 6 Canadian cents to share price. Or, they must believe TKO is currently overvalued. Or....something funny is going on and they want investors to sell their shares. I'm not sure but doesn't Scotiabank have an analyst that sits in on all of the quartely conference calls? Very strange that they would release a cut on the same day Taseko announced strong Q3 production results, don't you think?

[metalhead666]

1. Analysts know nothing or they would be rich 2. Florence permit is well known 3. Copper is going lower 4. Florence won't be cash flow positive for 2 years

[nofluff]

Yup. Anon the main seller today. When they have to disclose in a couple days, you can be sure scotia was a big seller. They will hope to squeeze it back to 2.20 cad before permit issue. They r just starting to formukate a drill program. They did a powerful deep survey, so they are looking for bonanza type feeders for underground development. Drill results will not b out until new year. Full

[JCSunsfan]

That came across my Ameritrade new feed as well.  I am in the US and usually they convert those recommendations to USD denominations.  So, was it $2.60 US or CAD? $2.60 CAD does not make much sense to me.  USD would make sense.  The upside will be there but not quite as much as originally imagined.  That might be because of outside market forces. 

[nofluff]

It is 2.60 cad jc.  nf

[JCSunsfan]

Thank you for the clarification.  OK. Please check my math on this.  The average price of Moly in Q2 was $11 USD per pound.  In Q3 it spiked to $20 per pound.  Gibraltar Moly production in Q2 was 400,000 pounds.  Production in q3 was 600,000 pounds  That would make the c1 offset from Moly .177 cents per pound in q2. The offset in q3 would be .347 per pound. 

[nofluff]

We will no the data soon. Looks like copper guys are buying all things copper. I just poured myself a 2 oz shot of scotch. It was a very mental meral day fir me. I think I am done for the day. Watch it close and then go do some gardening and feed steers. Happy guessing all. nf

[dcjones4396]

The only thing I know is that the moly will definitely bring the Q3 C1 number down, how much I'm uncertain. Nice close on the day, just shy of the inta-day high. Yes JC, a trading pattern has developed on a daily basis...up, down, up..great for day traders like Fish. Hey Fish, where are you? Grouper got your tongue? Are you still in Fish? Cash out today? C'mon Fish, you're always good

[Cognition777]

Morningstar has TGB target at $2.51 and TKO at $3.04.

[JCSunsfan]

So, at 11:53 AM on October 12, Scotiabank declares a $2.60 price target. Four hours later TKO closes at $2.60.  Thought those targets were supposed to reach out a little farther than that.