Globe says Taseko Mines a top small-cap idea at Stifel
2023-11-29 07:41 ET - In the News
The Globe and Mail reports in its Wednesday, Nov. 29, edition that Stifel analyst James Hodgins thinks "it's time to buy Canadian small caps." The Globe's David Leeder writes that Mr. Hodgins says in a note: "After underperforming for the better part of the past decade, Canadian small cap equities are literally begging to be bought. The value is there, the cycle returns are there and the seasonality is now here. ... Small cap equities historically also benefit from the yield curve resteepening, which it inevitably will do. While we realize many small cap names are bearing the brunt of tax-loss selling, that peak selling pressure is due to abate within two to three weeks, thereby giving investors an opportunity to pick up great small cap companies at bargain-basement prices." Mr. Hodgins adds that small caps have never been cheaper relative to their large peers, "making them a great value call." Mr. Hodgins says Taseko Mines is on his firm's list of top small-cap ideas. He rates Taseko "buy" with a $3.60 share target. Analysts on average target the shares at $2.98. The Globe reported on July 20, 2022, and Oct. 18, 2023, that National Bank rated Taseko "sector perform." It was then going for $1.26 and $1.60.